Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade PH now with 

Parker Hannifin Corp. (PH: Quote) 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."

Register
To receive FREE breaking news email alerts for Parker Hannifin Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.