$PH (Parker-Hannifin Corporation)

$PH {{ '2016-08-04T12:01:38+0000' | timeago}} • Announcement

$PH CEO Tom Williams said, "In many of our key markets we are seeing a decelerating rate of decline. While we see progress toward stabilization, we remain cautious in our outlook and are not anticipating any meaningful turnaround in global market conditions. In fiscal year 2017, we are estimating flat sales and significant margin improvement."

$PH {{ '2017-06-19T11:06:08+0000' | timeago}} • Announcement

Parker Aerospace, a business segment of $PH, said it has been selected by $GE's GE Aviation to provide the lubrication and scavenge pump for the 1,300 to 2,000 shaft-horsepower small turboprop engine currently in development on the Advanced Turboprop (ATP), $GE's new advanced turboprop engine.

$PH {{ '2017-06-16T13:14:19+0000' | timeago}} • Announcement

$PH announced the retirement of Robert W. Bond, VP - eBusiness, IoT and Services. The BoD has elected Michael Chung, who is currently the VP and President - Automation Group, to succeed Mr. Bond effective August 1, 2017.

$PH {{ '2017-06-15T11:18:12+0000' | timeago}} • Announcement

$PH's BoD elected Todd Leombruno as VP and Controller, effective July 1, 2017. Leombruno succeeds Catherine Suever in this role, who was recently elected to EVP, Finance and Administration and CFO.

$PH {{ '2017-05-05T14:49:33+0000' | timeago}} • Announcement

$PH said John Dedinsky, VP Global Supply Chain and Procurement, will retire after 38 years of dedicated service to the company. The BoD has elected Thomas Gentile, to succeed Dedinsky as VP Global Supply Chain, effective July 1, 2017.

$PH {{ '2017-04-27T16:40:38+0000' | timeago}} • Announcement

$PH narrowed its FY17 EPS from continuing operations guidance to $6.90-7.20 from $6.71-7.21, while lifting its adjusted EPS estimate to $7.70-8.00 from $7.05-7.55. The forecast is adjusted for expected business realignment expenses and acquisition related expenses. The estimate has been updated to include acquisitions.

$PH {{ '2017-04-27T16:33:09+0000' | timeago}} • Announcement

$PH reported a jump in 3Q17 earnings driven by accelerated sales growth and benefits of ongoing execution of Win Strategy initiatives. Net income rose to $238.7MM or $1.75 per share from $187.1MM or $1.37 per share last year. Sales grew to $3.12Bil from $2.83Bil. Adjusted EPS increased to $2.11 from $1.51.

$PH {{ '2017-04-21T12:36:31+0000' | timeago}} • Announcement

$PH's Board of Directors declared a quarterly cash dividend of $0.66 per share to the company's common stockholders. This dividend is payable on June 2, 2017 to holders of record as of May 10, 2017.

$PH {{ '2017-04-10T14:34:00+0000' | timeago}} • Announcement

$PH said Jon Marten, EVP, Finance and Administration and CFO, will retire after 30 years of dedicated service to the company. The Board elected Catherine Suever, currently VP and Controller and acting CFO, to succeed Marten as EVP, Finance and Administration and CFO, effective immediately.

$PH {{ '2017-02-28T22:04:41+0000' | timeago}} • Announcement

$PH completes the acquisition of CLARCOR for approx. $4.3Bil in a cash transaction, which includes the net debt. On Dec. 1, 2016, $PH purchased all outstanding CLARCOR shares for $83 per share in cash. This deal is expected to add to the company's cash flow, EPS and EBITDA, after adjusting for one-time costs.

$PH {{ '2017-02-02T15:00:30+0000' | timeago}} • Announcement

$PH lifted FY17 EPS from continuing operations guidance to $6.71-7.21 from $6.15-6.85 and its adjusted EPS estimate to $7.05-7.55 from $6.40-7.10. The company raised its organic growth forecast for 2H17 from 2.3% to 3.3% at the midpoint in its new guidance.

$PH {{ '2017-02-02T14:54:06+0000' | timeago}} • Announcement

$PH reported a rise in 2Q17 earnings driven by lower costs and expenses as well as gain from sale of Autoline product line. Net income rose to $241.3MM or $1.78 per share from $182.98MM or $1.33 per share last year. Net sales fell to $2.67Bil from $2.71Bil. Adjusted EPS increased to $1.91 from $1.52.

$PH {{ '2017-02-01T18:33:47+0000' | timeago}} • Announcement

$PH acquired helical rotary actuators maker Helac Corp., headquartered in Enumclaw, WA. The acquired company will become a business unit of $PH's Cylinder Division within the Hydraulics Group with sales reported in $PH's Diversified Industrial segment.

$PH {{ '2017-01-27T10:59:54+0000' | timeago}} • Announcement

$PH BoD declared a quarterly cash dividend to $0.66 per share of common stock to shareholders of record as of Feb. 10, 2017. The dividend is payable March 3, 2017.

$CLC {{ '2017-01-19T15:16:14+0000' | timeago}} • Announcement

$CLC reported a drop in 4Q16 earnings due to negative impact from expenses associated with the pending $PH transaction and upfront expenses for cost reduction initiatives. Net income fell to $29MM or $0.59 per share from $33.05MM or $0.67 per share last year. Net sales grew to $376.95MM from $372.55MM. Adjusted EPS was flat at $0.74.

$PH {{ '2016-12-01T13:42:58+0000' | timeago}} • Announcement

$PH agreed to buy $CLC. Upon closing, $CLC will be combined with $PH's Filtration Group to form diverse global filtration business. $PH intends to make debt reduction a priority in the near term. The transaction is not expected to impact $PH's dividend payout target of about 30% of net income while maintaining record of annual dividend rises.

$PH {{ '2016-12-01T13:41:00+0000' | timeago}} • Announcement

$PH agreed to buy $CLC. $PH expects to realize annual run rate cost synergies of about $140MM 3 years after closing through variety of initiatives. The transaction is expected to be accretive to $PH's cash flow, EPS, and EBITDA margins, after adjusting for one-time costs. After completion, $PH will maintain high investment grade credit profile.

$PH {{ '2016-12-01T13:38:29+0000' | timeago}} • Announcement

$PH agreed to buy $CLC for about $4.3Bil in cash, including the assumption of net debt, or $83 per share in cash. The transaction has been unanimously approved by the BoD of each company. $PH plans to finance the transaction using cash and new debt. The transaction is expected to be completed by or during $PH's 1Q18.

$PH {{ '2016-10-21T16:49:47+0000' | timeago}} • Webcast

$PH said it is expecting FY17 CapEx to be in the range of 1.6-2% of sales, including a lot of reinvestments down the line. The company's R&D level is at about 8% of sales, which seems to be the right level in this current environment.

$PH {{ '2016-10-21T15:44:44+0000' | timeago}} • Webcast

$PH expects FY17 total segment operating margin to be in the range of 14.8-15.2%, which includes Diversified Industrial North America of 16.9-17.3%, Diversified Industrial International of 12.4-12.8% and Aerospace Systems of 14.8-15.2%

$PH {{ '2016-10-21T12:24:38+0000' | timeago}} • Announcement

$PH maintained its 2017 guidance for earnings from continuing operations in the range of $6.15 to $6.85 per share, or $6.40 to $7.10 per share on an adjusted basis.  Fiscal year 2017 guidance is adjusted for expected business realignment expenses of approximately $0.25 per share.

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