Parker-Hannifin beats by $0.34, reports revs in-line; reaffirms FY16 EPS guidance (88.12)
- Reports Q2 (Dec) earnings of $1.52 per share, $0.34 better than the Capital IQ Consensus of $1.18; revenues fell 13.7% year/year to $2.71 bln vs the $2.69 bln Capital IQ Consensus.
- Co reaffirms guidance for FY16, sees EPS of $5.90-6.30, excluding non-recurring items, vs. $6.02 Capital IQ Consensus Estimate.
- Parker reported a decrease in orders of 12% for Q2
- Orders decreased 15% in the Diversified Industrial North America businesses
- Orders decreased 10% in the Diversified Industrial International businesses
- Orders decreased 11% in the Aerospace Systems segment