Parker Hannifin Slashes FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the first quarter of fiscal 2020 on Thursday, Parker Hannifin Corp. (PH) slashed its earnings and adjusted earnings guidance for the full-year 2020.

For fiscal 2020, the company now projects earnings in a range of $8.53 to $9.33 per share and adjusted earnings in a range of $10.10 to $10.90 per share, assuming organic sales decline in the range of 7.5 to 4.5 percent.

Previously, the company expected earnings in the range of $11.38 to $12.18 per share and adjusted earnings in a range of $11.50 to $12.30 per share, assuming organic sales change between a decline of 3 percent and flat.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.74 per share on a sales decline of 1.70 percent to $14.08 billion for the year. Analysts' estimates typically exclude special items.