logo
Plus   Neg
Share
Email
Comment

Parker Hannifin Q3 Profit Up; Raises 2012 EPS Forecast - Quick Facts

Parker Hannifin Corp. (PH) posted third-quarter profit of $312.07 million or $2.01 per share, higher than $279.59 million or $1.68 per share last year.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $1.71 per share. Analysts' estimates typically exclude special items.

Net sales grew to $3.39 billion from $3.24 billion a year ago. Analysts estimated revenues of $3.28 billion.

"This quarter's results benefitted, in part, from the favorable resolution of prior year tax filings, however, all-time record quarterly earnings were largely achieved as a result of strong operating performance in North America," said Chairman, CEO and President, Don Washkewicz. "Our organic sales growth was 6 percent, led by a double-digit increase in the North America Industrial segment, while currency translation negatively affected sales by 1 percent.."

For fiscal 2012, the company has increased its guidance for earnings from continuing operations to the range of $7.30 to $7.50 per share from the range of $6.90 to $7.30 per share. Analysts expect the company to earn $7.08 per share.

Washkewicz added, "Reflecting our strong outperformance relative to guidance, Parker is increasing our earnings outlook for the year. The Company remains on pace to deliver an all-time record year in fiscal 2012."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Angry protesters are planning more than 50 demonstrations on Friday at several Tim Hortons locations across Canada after some franchise owners in Ontario slashed workers' benefits as well as paid breaks in response to the Ontario government's minimum wage hike. The protests are being organized by advocacy group Leadnow and the Fight for $15 & Fairness Campaign. Athletic footwear giant Nike, Inc. on Thursday announced a new marketing head, in its efforts to boost market share. The company promoted Dirk-Jan "DJ" van Hameren as its VP, Chief Marketing Officer, effective immediately. Van Hameren will succeed Greg Hoffman, who has been appointed VP, Global Brand Creative & Marketing Innovation Amazon.com Inc. (AMZN) said Thursday that it has chosen the 20 metropolitan areas to move to the next phase of the selection process for the company's second headquarters. The company plans to invest over $5 billion and grow the second headquarters to accommodate as many as 50,000 high-paying jobs.
comments powered by Disqus
Follow RTT