Parker-Hannifin Tops Q2 Estimates as Gas and Liquid Handling Stocks Slide

Earnings
โดย Yahoo Finance·US·Read original
Summary · why it matters

Parker-Hannifin reported Q2 revenues of $5.76 billion, up 9.8% year on year and 3.3% above analysts' expectations, in what was described as an exceptional quarter for the motion and control systems maker. The company also posted an impressive beat of analysts' organic revenue estimates and full-year EPS guidance that exceeded expectations, though the stock is down 6.6% since reporting and trades at $931.29. Across the 12 gas and liquid handling stocks tracked, group revenues beat consensus estimates by 2% while next quarter's revenue guidance came in 0.8% below, and share prices have fallen 6.5% on average since the latest results. SPX Technologies was the group's best performer with revenues of $679 million, up 22.9% year on year and 5.8% above expectations, and achieved the highest full-year guidance raise in the group, while Graco was the slowest with revenues of $590.6 million, up 3.3% but 3% short of expectations. ITT posted the biggest analyst estimate beat and fastest revenue growth of the group at $1.47 billion, up 51.5% year on year and 5.9% above expectations, and Atmus Filtration Technologies reported revenues of $527.9 million, up 16.4% and 3.8% ahead of estimates.

Impact on stocks 5

Industrials± Mixed · 2 stocks
Graco Inc
GGG
▼ NegativeCapitalrelevance

Graco was the group's slowest performer with revenues up 3.3% but 3% short of expectations.

Aerospace & Aviation · 1 stocks
Parker-Hannifin Corporation
PH
▲ PositiveCapitalrelevance

Parker-Hannifin topped Q2 estimates with $5.76B revenue, up 9.8% YoY, and raised full-year EPS guidance above expectations.

Defense & Geopolitical Fragmentation · 1 stocks
ITT Inc
ITT
▲ PositiveCapitalrelevance

ITT posted the biggest analyst estimate beat and fastest revenue growth at $1.47B, up 51.5% YoY and 5.9% above expectations.

Smart City / Autonomous Infrastructure · 1 stocks
SPX Corp
SPXC
▲ PositiveCapitalrelevance

SPX Technologies was the group's best performer with revenues of $679M, up 22.9% YoY and 5.8% above expectations, and the highest guidance raise.