Parker-Hannifin Q4 Results Surpass Street Expectation, Provides FY24 Outlook
Portfolio Pulse from Akanksha Bakshi
Parker-Hannifin Corp (NYSE:PH) reported Q4 FY23 sales growth of 22% YoY to $5.09 billion, beating the consensus of $5.01 billion. Adjusted EPS improved to $6.08 from $5.16 in 4Q22, surpassing the consensus of $5.50. The company's operating cash flow for FY23 totaled $2.98 billion, compared to $2.44 billion in FY22. For FY24, Parker-Hannifin expects organic sales growth of 3%-6% and Adjusted Total segment operating margin of 23.0%-23.4%. PH shares are trading higher by 2.73% at $416.95.
August 04, 2023 | 1:58 pm
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Parker-Hannifin reported strong Q4 FY23 results, beating consensus estimates for both sales and EPS. The company's FY24 outlook is also positive, which has led to a rise in its stock price.
Parker-Hannifin's strong Q4 FY23 results and positive FY24 outlook indicate a healthy financial position, which is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100