Parker Hannifin Increases FY19 EPS Guidance - Quick Facts

(RTTNews) - Parker Hannifin Corp. (PH) announced, for the fiscal year ending June 30, 2019, the company has increased guidance for earnings from continuing operations to the range of $11.04 to $11.54 per share, or $11.35 to $11.85 per share on an adjusted basis. The company's guidance assumes organic sales growth in the range of 2.0% to 4.0%.

For the second-quarter, adjusted earnings per share were $2.51, compared with adjusted earnings per share of $2.15 in the prior year quarter. The company noted that its fiscal 2019 second quarter earnings included an $0.11 per share adjustment to income tax expense related to U.S. Tax Reform. Sales increased 3% to $3.47 billion; organic sales were up 6%, for the quarter.