Parker-Hannifin: Fiscal 4Q Earnings Snapshot
CLEVELAND (AP) _ Parker-Hannifin Corp. (PH) on Thursday reported fiscal fourth-quarter profit of $353.3 million.
On a per-share basis, the Cleveland-based company said it had net income of $2.62. Earnings, adjusted for non-recurring costs, were $3.22 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.91 per share.
The maker of motion and control products posted revenue of $3.82 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $3.84 billion.
For the year, the company reported profit of $1.06 billion, or $7.83 per share. Revenue was reported as $14.3 billion.
Parker-Hannifin expects full-year earnings in the range of $10.70 to $11.50 per share.
Parker-Hannifin shares have fallen 14 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5 percent. The stock has risen 4 percent in the last 12 months.