4Q26 preview: likely to clear the EPS and guidance bar, but the "how" will matter

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4Q26 preview: likely to clear the EPS and guidance bar, but the "how" will matter

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Parker Hannifin Corporation

4Q26 preview: likely to clear the EPS and

guidance bar, but the “how” will matter

Reiterate Rating: BUY | PO: 1,050.00 USD | Price: 985.48 USD

4Q26 coming in above, industrial performance key 24 July 2026

We expect Parker to deliver a modest beat for 4Q26, with adjusted EPS (BofAe $8.32) Equity

above both guidance (~$8.16) and consensus ($8.22). Aerospace should continue to grow

well (organic growth BofAe 9.5%) and could be a source of upside, consistent with Andrew Obin Research Analyst

positive datapoints from our meetings at Farnborough. We are modeling a slight BofAS

deceleration in Industrial organic growth driven by tougher comps to (2.1%). The market +1andrew.obin@bofa.com646 855 1817

will likely be looking for improving Industrial NA orders vs. 2% in FY3Q26, particularly David Ridley-Lane, CFA

given positive short cycle data this earnings season. We expect PH to guide EPS slightly Research Analyst

BofAS

above the current consensus of $33.91(+8.4%) more consistent with its stated target of +1 646 855 2907

10%+ EPS growth. Reiterate Buy. david.ridleylane@bofa.com

Devin Leonard

Key debates: how much short-cycle leverage? ResearchBofAS Analyst

Over the past several years the Aerospace business has outperformed the peers, while +1 646 855 3698

devin.leonard@bofa.com

Industrials have underperformed in terms of organic growth. The key debate is whether

Parker will capture the same short-cycle torque as multi-industrial peers. In our meeting

with Jennifer Parmentier, PH Chairman and CEO, at the Farnborough Airshow on July

21, recovery was noted as broad-based but gradual, with strength in trucks, mining, off- Stock Data