Parker-Hannifin (PH) reported $5.06 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 23.9%. EPS of $5.93 for the same period compares to $4.83 a year ago.
The reported revenue represents a surprise of +5.36% over the Zacks Consensus Estimate of $4.8 billion. With the consensus EPS estimate being $5.03, the EPS surprise was +17.89%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Parker-Hannifin performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Parker - Change in Percentage - As Reported: 19% compared to the 15.5% average estimate based on three analysts.
Net sales - Total Parker - Change in Percentage - Organic Sales: 11.5% versus the three-analyst average estimate of 4.93%.
Net sales - Industrial - North America - Organic impact - YoY change: 11.7% versus 5.33% estimated by three analysts on average.
Net sales - Aerospace Systems - Change in Percentage - Organic Sales: 14.5% compared to the 6.53% average estimate based on three analysts.
Aerospace Systems - Change in Percentage - As Reported: 69% versus 77.77% estimated by three analysts on average.
Net sales- Aerospace: $1.19 billion versus the four-analyst average estimate of $1.13 billion. The reported number represents a year-over-year change of +88.9%.
Net sales- Diversified Industrial- International: $1.52 billion versus $1.40 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.9% change.
Net sales- Diversified Industrial- North America: $2.34 billion versus the four-analyst average estimate of $2.18 billion. The reported number represents a year-over-year change of +16.3%.
Adjusted Segment operating income- Diversified Industrial- North America: $489.35 million versus the four-analyst average estimate of $487.99 million.
Adjusted Segment operating income- Aerospace Systems: $281.26 million compared to the $240.75 million average estimate based on four analysts.
Adjusted Segment operating income- Diversified Industrial- International: $329.50 million versus the four-analyst average estimate of $308.49 million.
View all Key Company Metrics for Parker-Hannifin here>>>
Shares of Parker-Hannifin have returned +3.4% over the past month versus the Zacks S&P 500 composite's -0.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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