Does Parker-Hannifin's Guidance Signal a Turnaround for Industrial Companies?
Motion and control technologies company Parker-Hannifin (NYSE: PH) is somehow emblematic of investing in the industrial sector right now. The company recently gave its first-quarter earnings for fiscal 2020, and lowered its full-year 2020 guidance. But the stock continues its positive run in 2019 -- it's now up more than 33% year to date -- as investors have shrugged off disappointing earnings results and a deteriorating near-term outlook. Let's look at what's going on and what it might mean for other industrial stocks.
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The company is only one quarter into its full-year 2020, but given the deteriorating end-market outlook, it's already cut its full-year guidance.
Source Fool.com
