- Parker Hannifin (PH -3.1%) slides after FQ2 earnings rose 40% Y/Y and results were mostly in-line with estimates, but the company offered an EPS outlook for the year that was largely below forecast.
- Overall orders rose 5% Y/Y in orders for the quarter: +3% in the Diversified Industrial North America businesses, +6% in the Diversified Industrial International businesses, +7% in the Aerospace Systems segment on a rolling 12-month average basis.
- Gains from a joint venture agreement with GE offset a costly write-down.
- Sees FY 2014 EPS of $6.20-$6.60, excluding non-recurring items, vs. $6.62 Capital IQ consensus estimate.
Parker Hannifin -3%, FY 2014 outlook at low end of consensus
Jan 22 2014, 10:14 ET