Parker Sees FY24 Sales Growth ~4%
Portfolio Pulse from Benzinga Newsdesk
Parker (PH) has updated its fiscal 2024 outlook, projecting approximately 4% sales growth, a total segment operating margin of around 21.2% (24.6% adjusted), and EPS of $20.80 to $21.00 ($24.65 to $24.85 adjusted). The revision is attributed to strong Q3 performance and double-digit organic growth in aerospace, with an investor day scheduled for May 16, 2024.
May 02, 2024 | 11:39 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Parker has raised its fiscal 2024 forecasts, expecting sales growth of about 4%, operating margins of 21.2% (24.6% adjusted), and EPS of $20.80-$21.00 ($24.65-$24.85 adjusted), following a strong Q3 and growth in aerospace.
The positive revision in Parker's fiscal 2024 outlook, especially the expected sales growth and improved earnings per share, is likely to be viewed favorably by investors. The company's strong performance in Q3 and significant growth in the aerospace sector are key drivers of this optimistic outlook, which could lead to increased investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100