Earnings Preview: Parker-Hannifin Corp.

Parker-Hannifin Corp. (PH) is expected to report Q1 earnings on Tuesday, October 20 before the market open with a conference call scheduled for 10 am ET.

Guidance

Analysts are looking for EPS of 17c on revenue of $2.17B. The consensus range is 9c-28c for EPS, and $2.05B-$2.45B for revenue, according to First Call. When the company reported its Q4 earnings it announced that it expects FY10 EPS to be in the range of $1.25-$1.75, compared to consensus estimates at the time of $2.25. Consensus for FY10 EPS was dropped to $1.68. Since it last reported earnings, Parker-Hannifin's shares have climbed 14.28% to $53.71 from $46.98, just below the Basic Materials sector gain of 20.05% over the same time period.

Analyst Views

The company was raised to Outperform from Neutral at Credit Suisse in late September. The firm noted that although the machinery group has rallied, it believes more positive earnings revisions lie ahead ,and notes that the group is coming off a very low base. Investors will be interested to see if the company can continue to report strong results into its new fiscal year.