Parker Hannifin Corp. (PH) reported that its third-quarter net income attributable to shareholders decreased to $256.56 million or $1.68 per share from $312.07 million or $2.01 per share last year.
Net sales decreased to $3.31 billion, from $3.39 billion last year. Acquisitions contributed 4 percent which was offset by a 6 percent reduction in organic sales.
On average, 15 analysts polled by Thomson Reuters expected the company to report profit of $1.67 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $3.35 billion for the quarter.
The Board increased the company's regular quarterly cash dividend to $0.45 per share of common stock and declared a dividend payable June 7, 2013 to shareholders of record as of May 10, 2013. This represents a 5 percent increase over the previous quarterly dividend.
For the fiscal year ending June 30, 2013, the company has maintained the midpoint and narrowed the range of guidance for earnings from continuing operations to $6.25 to $6.65 per share. Analysts expect the company to report fiscal 2013 profit per share of $6.43.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.