Analyst Consensus ?
ConsensusBuy39 ratings
Bullish2666.7%
Neutral1230.8%
Bearish12.5%
Parker-Hannifin Corporation · PH · FY2026 Q3 · Calendar Q2 2026
Parker-Hannifin Q3 FY2026: Record EPS Above $8, Backlog Hits $12.5B, Guidance Raised
Parker-Hannifin's interconnected motion-control, filtration, and aerospace platform delivered a third consecutive record quarter, with adjusted EPS exceeding $8 for the first time ($8.17 vs $7.84 consensus). Revenue of $5.49B beat estimates of $5.40B. Record backlog of $12.5B and a second consecutive guidance raise underscore management's confidence in sustained organic growth. The pending Filtration Group acquisition would expand the company's filtration franchise. Despite these strong results, shares fell 4% on the report (abnormal move of -5% vs SPY) and drifted an additional 7% lower, suggesting investors are weighing tariff risk, margin sustainability above 40%, and integration execution against the operational beat.
Reported Before market openNYSEIndustrials
$124.49B market cap
100quality score
Company context
Snapshot as of publicationParker-Hannifin Corporation is a global enterprise specializing in the production and distribution of advanced motion and control technologies and systems. These solutions serve a broad spectrum of international markets, including mobile applications, industrial operations, and the aerospace sector. Its organizational structure is primarily divided into two key business units: Diversified Industrial and Aerospace Systems. Within the Diversified Industrial division, the product portfolio is extensive, covering sealing, protective shielding, thermal management systems, bonding agents, surface coatings, and technologies designed to reduce noise, vibration, and harshness. This segment also provides filtration units, diagnostic tools, and related solutions for purifying fuel, air, oil, water, and various other liquids and gases by eliminating contaminants.…
Earnings scorecard
Reported versus consensus
Reported EPS
$8.17
Consensus $8
EPS surprise
+4.2%
Reported versus consensus
Reported revenue
$5.49B
Consensus $5.40B
Revenue surprise
+1.6%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$950.23Current
$260Low
$909.73Average
$1,358High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 12, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Bernstein | Outperform | Outperform | Maintain | Aug 14, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Aug 11, 2026 |
| UBS | Buy | Buy | Maintain | Aug 7, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 7, 2026 |
| Susquehanna | Positive | Positive | Maintain | Aug 7, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Aug 7, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 7, 2026 |
| BNP Paribas | Outperform | Outperform | Maintain | Aug 7, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | May 26, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | May 7, 2026 |
| Stifel | Hold | Hold | Maintain | Apr 10, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Mar 27, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Feb 24, 2026 |
| Jefferies | Buy | Buy | Maintain | Jan 30, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jan 30, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Dec 17, 2025 |
| Baird | Outperform | Outperform | Maintain | Nov 12, 2025 |
| Argus Research | Buy | Buy | Maintain | Nov 10, 2025 |
| Mizuho | Outperform | Outperform | Maintain | Oct 17, 2025 |
| Deutsche Bank | Hold | Buy | Downgrade | Sep 4, 2025 |
| Raymond James | Outperform | Outperform | Maintain | Aug 8, 2025 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Apr 3, 2025 |
| TD Cowen | Hold | Hold | Maintain | Nov 12, 2024 |
| B of A Securities | Buy | Buy | Maintain | May 17, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | May 5, 2023 |
| Gordon Haskett | Buy | Hold | Upgrade | Jun 16, 2020 |
| Bank of America | Buy | Neutral | Upgrade | Dec 17, 2019 |
| Stifel Nicolaus | Hold | Hold | Maintain | Jul 15, 2019 |
| Vertical Research | Hold | Buy | Downgrade | Feb 1, 2019 |
| Cowen & Co. | Underperform | Market Perform | Downgrade | Oct 15, 2018 |
| Buckingham Research | Buy | Neutral | Upgrade | Sep 14, 2018 |
| Buckingham | Buy | Neutral | Upgrade | Sep 14, 2018 |
| Argus | Hold | Buy | Downgrade | Aug 14, 2018 |
| Aegis Capital | Hold | Hold | Maintain | Dec 9, 2016 |
| Avondale Partners | Perform | Market Perform | Maintain | Apr 7, 2016 |
| ISI Group | Buy | Neutral | Upgrade | Aug 7, 2014 |
| MKM Partners | Buy | Buy | Maintain | Apr 30, 2014 |
| Longbow Research | Neutral | Underperform | Upgrade | Apr 29, 2013 |
| RBC Capital | Perform | Sector Perform | Maintain | Feb 15, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $950.23. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Bernstein | Varun Govindaraj | $1,218 | $1,057.28 | +28.2% | Aug 14, 2026 |
| Truist Financial | Analyst unavailable | $1,358 | $1,079.69 | +42.9% | Aug 7, 2026 |
| Stifel Nicolaus | Nathan Jones | $1,075 | $1,081.58 | +13.1% | Aug 7, 2026 |
| BMO Capital | Daniel DiCicco | $1,214 | $1,069.8 | +27.8% | Aug 7, 2026 |
| UBS | Amit Mehrotra | $1,250 | $1,069.8 | +31.5% | Aug 7, 2026 |
| KeyBanc | Analyst unavailable | $1,210 | $1,069.8 | +27.3% | Aug 7, 2026 |
| Bernstein | Varun Govindaraj | $1,037 | $973.1 | +9.1% | Jul 16, 2026 |
| Truist Financial | Jamie Cook | $1,269 | $963.81 | +33.5% | Jul 2, 2026 |
| Bernstein | Varun Govindaraj | $1,026 | $905.53 | +8.0% | Jun 9, 2026 |
| Wells Fargo | Joseph O'Dea | $950 | $866.96 | -0.0% | May 26, 2026 |
| Evercore ISI | Analyst unavailable | $1,064 | $870.1 | +12.0% | May 11, 2026 |
| Truist Financial | Analyst unavailable | $1,147 | $889.27 | +20.7% | May 1, 2026 |
| Mizuho Securities | Brett Linzey | $1,050 | $895.3 | +10.5% | May 1, 2026 |
| Stifel Nicolaus | Analyst unavailable | $1,000 | $983.17 | +5.2% | Apr 10, 2026 |
| BMO Capital | Analyst unavailable | $1,090 | $901.46 | +14.7% | Mar 26, 2026 |
| Morgan Stanley | Analyst unavailable | $1,038 | $1,018.77 | +9.2% | Feb 24, 2026 |
| Truist Financial | Analyst unavailable | $1,139 | $936.2 | +19.9% | Jan 30, 2026 |
| KeyBanc | Analyst unavailable | $1,100 | $948.4 | +15.8% | Jan 30, 2026 |
| Stifel Nicolaus | Analyst unavailable | $965 | $948.4 | +1.6% | Jan 30, 2026 |
| Robert W. Baird | Analyst unavailable | $1,050 | $948.4 | +10.5% | Jan 30, 2026 |
| Barclays | Analyst unavailable | $1,020 | $948.4 | +7.3% | Jan 30, 2026 |
| Industrial Alliance Securities | Analyst unavailable | $1,032 | $948.4 | +8.6% | Jan 29, 2026 |
| Stifel Nicolaus | Analyst unavailable | $941 | $932.7 | -1.0% | Jan 23, 2026 |
| Morgan Stanley | Christopher Snyder | $945 | $931.66 | -0.6% | Jan 14, 2026 |
| Barclays | Analyst unavailable | $990 | $928.76 | +4.2% | Jan 7, 2026 |
| Wells Fargo | Joseph O'Dea | $1,000 | $928.76 | +5.2% | Jan 7, 2026 |
| KeyBanc | Jeffrey Hammond | $1,050 | $906.89 | +10.5% | Jan 6, 2026 |
| Truist Financial | Analyst unavailable | $1,097 | $874.17 | +15.4% | Dec 18, 2025 |
| Stifel Nicolaus | Analyst unavailable | $869 | $871.56 | -8.5% | Dec 16, 2025 |
| Goldman Sachs | Analyst unavailable | $1,000 | $883.45 | +5.2% | Dec 16, 2025 |
| Barclays | Julian Mitchell | $950 | $869.2 | -0.0% | Dec 4, 2025 |
| BNP Paribas | Analyst unavailable | $1,020 | $869.2 | +7.3% | Dec 4, 2025 |
| Susquehanna | Philip Walsh | $1,000 | $857.93 | +5.2% | Nov 12, 2025 |
| Truist Financial | Analyst unavailable | $977 | $844.01 | +2.8% | Nov 9, 2025 |
| KeyBanc | Analyst unavailable | $935 | $839.75 | -1.6% | Nov 7, 2025 |
| Stifel Nicolaus | Analyst unavailable | $723 | $733.59 | -23.9% | Oct 20, 2025 |
| Mizuho Securities | Analyst unavailable | $825 | $726.16 | -13.2% | Oct 17, 2025 |
| KeyBanc | Jeffrey Hammond | $825 | $728.66 | -13.2% | Oct 14, 2025 |
| Truist Financial | Jamie Cook | $910 | $750.68 | -4.2% | Oct 8, 2025 |
| Barclays | Analyst unavailable | $785 | $758.15 | -17.4% | Oct 1, 2025 |
| Raymond James | Tim Thein | $845 | $727.74 | -11.1% | Aug 8, 2025 |
| Mizuho Securities | Brett Linzey | $785 | $680.4 | -17.4% | May 16, 2025 |
| Argus Research | John Eade | $680 | $613.92 | -28.4% | May 6, 2025 |
| Barclays | Analyst unavailable | $750 | $634.66 | -21.1% | Mar 10, 2025 |
| Wells Fargo | Joseph O'Dea | $710 | $635.23 | -25.3% | Jan 7, 2025 |
| UBS | Amit Mehrotra | $842 | $569.81 | -11.4% | Nov 13, 2024 |
| KeyBanc | Jeffrey Hammond | $725 | $637.15 | -23.7% | Oct 14, 2024 |
| Mizuho Securities | Brett Linzey | $665 | $626.05 | -30.0% | Sep 20, 2024 |
| Argus Research | John Eade | $650 | $590.84 | -31.6% | Aug 16, 2024 |
| Barclays | Julian Mitchell | $650 | $568.08 | -31.6% | Aug 9, 2024 |
| Raymond James | Tim Thein | $610 | $504.22 | -35.8% | Jun 27, 2024 |
| Barclays | Julian Mitchell | $610 | $513.08 | -35.8% | Jun 4, 2024 |
| Mizuho Securities | Brett Linzey | $650 | $529.83 | -31.6% | May 28, 2024 |
| KeyBanc | Jeffrey Hammond | $640 | $544.48 | -32.6% | May 17, 2024 |
| Goldman Sachs | Joe Ritchie | $700 | $544.4 | -26.3% | May 17, 2024 |
| Argus Research | John Eade | $590 | $536.18 | -37.9% | May 6, 2024 |
| Mizuho Securities | Brett Linzey | $550 | $530.68 | -42.1% | May 3, 2024 |
| Stifel Nicolaus | Nathan Jones | $629 | $559.06 | -33.8% | Apr 3, 2024 |
| Truist Financial | Jamie Cook | $602 | $539.56 | -36.6% | Mar 13, 2024 |
| Mizuho Securities | Brett Linzey | $290 | $271.54 | -69.5% | May 8, 2022 |
| Stifel Nicolaus | Nathan Jones | $338 | $273.87 | -64.4% | Apr 18, 2022 |
| Barclays | Julian Mitchell | $350 | $274.43 | -63.2% | Apr 5, 2022 |
| Jefferies | Stephen Volkmann | $350 | $283.85 | -63.2% | Mar 5, 2022 |
| Goldman Sachs | Joe Ritchie | $375 | $313.07 | -60.5% | Dec 12, 2021 |
| Cowen & Co. | Joseph C Giordano | $260 | $328.67 | -72.6% | Nov 19, 2021 |
| J.P. Morgan | Ann Duignan | $310 | $323.67 | -67.4% | Nov 5, 2021 |
| KeyBanc | Jeffrey Hammond | $385 | $323.67 | -59.5% | Nov 5, 2021 |
| Melius Research | Scott Davis | $458 | $285.59 | -51.8% | Oct 11, 2021 |
| Stifel Nicolaus | Nathan Jones | $342 | $285.59 | -64.0% | Oct 11, 2021 |
| Argus Research | John Eade | $345 | $311.6 | -63.7% | May 5, 2021 |
| Bank of America Securities | Andrew Obin | $385 | $309.85 | -59.5% | Apr 29, 2021 |
| Morgan Stanley | Joshua Pokrzywinski | $355 | $317.01 | -62.6% | Apr 12, 2021 |
Track every rating change on PH the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
-4.0%
Event window
SPY move
+1.0%
Same window
Abnormal move
-5.0%
Stock minus SPY
Volume
3.8×
Versus trailing sessions
Subsequent drift
-7.1%
Up to 20 sessions
PHSPY benchmark
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What changed
Revenue grew to $5.49B from $5.2B in Q2, with 6.5% organic growth. Adjusted EPS rose to $8.17 from $7.65, the first quarterly print above $8. Backlog climbed to a new all-time high of $12.5B from $11.7B. Aerospace & defense delivered double-digit organic growth, with FY2026 segment guidance raised to 12%. Transportation heavy-truck orders emerged as a new demand driver. Free cash flow reached $2.6B, the dividend was increased to $2/share, and $825M of share repurchases were completed. The Filtration Group acquisition continued to progress, with expected synergies of $20M. A severe weather event damaged a Texas facility but is not expected to materially affect Q4. Segment margin expansion moderated to 40bp from 150bp in the prior quarter.
Guidance delta
FY2026 guidance was raised for the second consecutive quarter. Organic sales growth guidance was lifted to 5.5% from a prior midpoint of approximately 5%. Adjusted EPS guidance was raised to $31.20. Aerospace & defense FY2026 organic growth guidance was increased to 12%. The dividend was increased to $2/share and share repurchases of $825M were completed. Management also expressed confidence in FY2027 as another record year with continued organic growth.
Key takeaways
- Record Q3 sales of $5.49B with 6.5% organic growth and adjusted EPS of $8.17, beating consensus of $7.84 EPS and $5.40B revenue
- Backlog reached an all-time high of $12.5B, up from $11.7B in the prior quarter
- Aerospace & defense delivered double-digit organic growth; FY2026 segment guidance raised to 12%
- FY2026 guidance raised: organic sales growth to 5.5% and adjusted EPS to $31.20
- Free cash flow reached $2.6B; dividend increased to $2/share and $825M of share repurchases completed
- Filtration Group acquisition integration progressing; severe weather damaged a Texas facility but Q4 impact not expected to be material
Management priorities
- Complete Filtration Group acquisition and realize planned synergies
- Continue lean Kaizen initiatives to expand industrial margins
- Invest in data-center cooling product development
- Maintain dividend growth and share-repurchase program
- Target FY2027 as another record year with continued organic growth
Related earnings events
IndustrialsPOOL · FY2026 Q2 · Calendar Q3 2026Pool Corp Q2: Maintenance Demand Holds, Freight Costs Weigh on MarginsALLE · FY2026 Q2 · Calendar Q3 2026Allegion Beats on Q2 Revenue and EPS, Raises Full-Year Outlook as Americas Demand AcceleratesROL · FY2026 Q2 · Calendar Q3 2026Rollins Q2 2026: Revenue Misses as Digital Lead Slowdown Hits Orkin
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-28T23:41:53.018886+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-28T23:41:53.015884+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.