Parker Hannifin Guides FY21 Above Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, Parker Hannifin Corp. (PH) initiated its earnings and adjusted earnings guidance for the full-year 2021, above analysts' expectations.

For fiscal 2021, the company now projects earnings in a range of $7.41 to $8.41 per share and adjusted earnings in a range of $9.80 to $10.80 per share, assuming organic sales decline in the range of 13 to 9 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.45 per share on a sales decline of 0.6 percent to $13.37 billion for the year. Analysts' estimates typically exclude special items.

"We expect that the global COVID-19 pandemic will continue to have a negative effect on economic activity in fiscal 2021," said Tom Williams, Chairman and Chief Executive Officer.