Parker Hannifin Guides FY19 Adj. EPS Below View - Quick Facts

(RTTNews) - Parker Hannifin Corp. (PH) issued Thursday fiscal 2019 guidance for adjusted earnings from continuing operations in the range of $10.70 to $11.50 per share on organic sales growth of 2.3 to 5.1 percent. The company anticipates another record year for sales and operating margins.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $10.10 per share on sales growth of 18.90 percent to $14.30 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, net earnings increased to $353.26 million or $2.62 per share from $293.31 million or $2.15 per share in the prior-year quarter. Adjusted earnings were $3.22 per share, compared to last year's $2.45 per share. Net sales increased 9 percent to $3.82 billion from last year's $3.50 billion.

Analysts expected quarterly earnings of $2.91 per share on sales of $3.83 billion.