Parker(US:PH)2024-08-08 15:21FY24 Performance Highlights - Parker Hannifin reported sales of $19.9 billion, a 4.5% increase, including 2.3% organic growth[4] - Adjusted segment operating margin reached 24.9%, a 200 bps increase[4] - Adjusted EPS grew by 18%[4] - Free cash flow was $3.0 billion, a 15% increase[4] - Aerospace Systems achieved $5.5 billion in sales, with 17% organic growth[6] Q4 FY24 Financial Summary - Sales were $5.187 billion, a 1.8% increase compared to the previous year[10] - Adjusted segment operating margin was 25.3%, a 130 bps increase year-over-year[10] - Adjusted EPS was $6.77, an 11.3% increase year-over-year[10] - The company achieved over $800 million in debt reduction during the quarter[13] FY25 Guidance - The company forecasts sales growth between 1.5% and 4.5%, with organic sales growth between 2% and 5%[15] - Adjusted EPS is projected to be between $26.30 and $27.00[15] - Free cash flow is expected to be between $3.0 billion and $3.3 billion[15] - Aerospace & Defense is expected to have High Single Digit (HSD) growth in FY25, while In-Plant & Industrial Equipment, Off-Highway Transportation, and Energy are expected to have Low Single Digit (LSD) growth[15] Debt Reduction - Since the Meggitt acquisition, the company has reduced debt by approximately $3.4 billion[13] - Net leverage was reduced to 2.0x[13]