Parker-Hannifin Corporation Provides Earnings Guidance for the Fiscal Year Ending June 30, 2023
August 04, 2022 at 07:30 am EDT
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Parker-Hannifin Corporation provided earnings guidance for the fiscal year ending June 30, 2023. For the year, the company expects fiscal 2023 organic sales growth to be in the range of 2% to 5% and earnings per share in the range of $16.13 to $16.93, or $18.10 to $18.90 on an adjusted basis. Included in the outlook is an expected first quarter fiscal 2023 interest expense of $0.25 per share related to the Meggitt acquisition.
Parker Hannifin Corporation specializes in designing, manufacturing, and selling monitoring and control systems. Net sales break down by family of products as follows:
- industrial systems (84.1%): industrial pipes, pipe connectors and adapters, oil filters, air filters, motors, hydraulic pumps and valves, pneumatic accessories, diagnostic equipment, climate control and monitoring systems (carbonic gas control systems, electronic controllers, pressure regulators, electromagnetic valves, thermostatic pressure relief valves), etc. North America accounts for 57.7% of net sales;
- aerospace systems and components (15.9%): flight control systems, fluid flow automation and monitoring systems, hydraulic components, brakes, etc. intended for military and commercial aircraft.
Net sales break down geographically as follows: North America (64.4%), Europe (19.9%), Asia-Pacific (14.4%) and Latin America (1.3%).
PARKER-HANNIFIN CORPORATION 
