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Parker-Hannifin: Fiscal 3Q Earnings Snapshot

CLEVELAND (AP) _ Parker-Hannifin Corp. (PH) on Thursday reported fiscal third-quarter net income of $411.2 million.

On a per-share basis, the Cleveland-based company said it had profit of $3.14. Earnings, adjusted for non-recurring costs, came to $3.17 per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.01 per share.

The maker of motion and control products posted revenue of $3.69 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $3.71 billion.

Parker-Hannifin expects full-year earnings in the range of $11.45 to $11.75 per share.

Parker-Hannifin shares have increased 21% since the beginning of the year, while the Standard & Poor's 500 index has risen 17%. The stock has increased 7% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PH at https://www.zacks.com/ap/PH