RTTNews | Aug 5, 2021 09:37AM EDT

09:37 Thursday, August 5, 2021 (RTTNews.com) - While reporting significantly higher fourth-quarter results on Thursday, Parker Hannifin Corp. (PH), a provider of motion and control technologies, issued fiscal 2022 earnings per share forecast.

For fiscal 2022, the company projects earnings per share in the range of $14.08 to $14.88, and adjusted earnings per share in the range of $16.20 to $17.00.

On average, 21 analysts polled by Thomson Reuters expect earnings of $14.94 per share. Analysts' estimates typically exclude special items.

Guidance assumes organic sales growth of approximately 5 percent to 9 percent compared with the prior year.

Tom Williams, Chairman and Chief Executive Officer, said, "We are encouraged by the positive demand trends across many of our end markets and anticipate a continued recovery in commercial aerospace during fiscal 2022. We expect this improving macro-economic outlook to enhance the impact of our continued actions to drive profitable growth by executing the Win Strategy and delivering top quartile financial performance."

Parker Hannifin shares were trading at $301.80, down 0.51 percent.

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