Stock Monitor: Cemtrex Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 22, 2018 / Active-Investors.com has just released a free earnings report on Parker-Hannifin Corp. (NYSE: PH). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=PH. Parker-Hannifin reported its second quarter fiscal 2018 operating and financial results on February 01, 2018. The maker of motion and control products surpassed revenue and earnings estimates and provided guidance for fiscal 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for Cemtrex, Inc. (NASDAQ: CETX), which also belongs to the Industrial Goods sector as the Company Parker-Hannifin. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/'symbol=CETX
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Parker-Hannifin most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=PH
Earnings Highlights and Summary
During second quarter fiscal 2018, Parker-Hannifin's sales surged 26% to $3.37 billion compared to $2.67 billion in Q2 FY17. In the reported quarter, the Company's organic sales increased 9.5% on a y-o-y basis, while there was a 13.3% contribution to sales in the quarter from acquisitions, and currency, positively impacted performance by 3.4% during the reported quarter. Parker-Hannifin's sales topped analysts' estimates of $3.34 billion.
For Q2 FY18, Parker-Hannifin reported net income or $56.3 million, or $0.41 per share, compared to earnings of $241.4 million, or $1.78 per share, in Q2 FY17. In the reported quarter, the Company recognized a net one-time adjustment to income tax expense of $1.65 per share related to US Tax Reform and recorded a net pre-tax gain on the sale and write-down of assets of $0.05 per share. Business realignment expenses and CLARCOR costs to achieve totaled $0.14 per share in Q2 FY18.
Parker-Hannifin's adjusted earnings per share were $2.15 in Q2 FY18 compared to adjusted earnings per share of $1.91 in Q2 FY17, which included a divestiture resulting in a pre-tax gain of $45.0 million, or $0.21 per share. Parker-Hannifin's earnings beat Wall Street's estimates of $2.06 per share.
Parker-Hannifin's Segment Results
During Q2 FY18, the Diversified Industrial segment's sales from its North American business soared 40% to $1.57 billion compared to $1.12 billion in Q2 FY17. The segment's operating income advanced 23% to $225.8 million versus $184.0 million in the year earlier comparable quarter. Orders increased 15% on a y-o-y basis in the Diversified Industrial North America business.
For Q2 FY18, the Diversified Industrial segment's sales from the International division rose 25% to $1.26 billion versus $1.01 billion in Q2 FY17. The segment's operating income surged 29% to $164.8 million compared to $127.5 million in the year earlier corresponding quarter. Orders increased 13% in the Diversified Industrial International businesses
The Aerospace Systems segment's sales totaled $549.7 million in Q2 FY18 compared to $543.8 million in Q2 FY17. The segment's operating income climbed 20% to $87.1 million compared to $72.5 million in the year ago same period. Orders increased 8% in the Aerospace Systems segment on a rolling 12-month average basis
Cash Matters
Parker-Hannifin's cash flow from operations for the first half of fiscal 2018 was $460.3 million, or 6.8% of sales, compared to $404.2 million, or 7.5% of sales, in H1 FY17. The Company's significant capital allocations on a year-to-date basis have been $176 million for the payment of shareholder dividends, $145 million for capital expenditures, and $100 million for its 10b51 repurchase of common shares.
Outlook
For the fiscal year ending June 30, 2018, Parker-Hannifin revised its earnings from continuing operations guidance to the range of $7.38 to $7.78 per share, or $9.65 to $10.05 per share on an adjusted basis. The revised fiscal 2018 earnings guidance reflected a reduction in the US Federal income tax rate. On an adjusted basis, forecasted earnings reflect the net one-time adjustment in income tax expense of $1.65 per share recorded in Q2 FY18 as well as expected business realignment expenses of approximately $58 million and CLARCOR costs to achieve of approximately $52 million.
Stock Performance Snapshot
February 21, 2018 - At Wednesday's closing bell, Parker-Hannifin's stock marginally declined 0.17%, ending the trading session at $181.30.
Volume traded for the day: 687.96 thousand shares.
Stock performance in the previous six-month period - up 16.85%; and past twelve-month period - up 16.50%
After yesterday's close, Parker-Hannifin's market cap was at $24.34 billion.
Price to Earnings (P/E) ratio was at 21.24.
The stock has a dividend yield of 1.46%.
The stock is part of the Industrial Goods sector, categorized under the Industrial Equipment & Components industry.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
