(RTTNews.com) - Parker Hannifin Corp. ( PH ) announced, for the fiscal year ending June 30, 2019, the company has increased guidance for earnings from continuing operations to the range of $11.04 to $11.54 per share, or $11.35 to $11.85 per share on an adjusted basis. The company's guidance assumes organic sales growth in the range of 2.0% to 4.0%.
For the second-quarter, adjusted earnings per share were $2.51, compared with adjusted earnings per share of $2.15 in the prior year quarter. The company noted that its fiscal 2019 second quarter earnings included an $0.11 per share adjustment to income tax expense related to U.S. Tax Reform. Sales increased 3% to $3.47 billion; organic sales were up 6%, for the quarter.
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