Parker Hannifin revises earning estimates downward

10/20/2008 | Forbes

Analysts lowered expectations for Parker Hannifin Corp. after the Cleveland-based motion control systems producer cut profit estimates. The company revised earnings estimates for the fiscal year down to between $5.35 and $5.75 per share from between $5.65 and $6.05 per share. "There is enough uncertainty in many of our end markets and sentiment among our customers to warrant a downward revision in our earnings expectations for the year," said Don Washkewicz, chief executive officer for Parker Hannifin.

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