CLEVELAND (AP) — CLEVELAND (AP) — Parker-Hannifin Corp. (PH) on Thursday reported fiscal third-quarter net income of $726.6 million.
On a per-share basis, the Cleveland-based company said it had profit of $5.56. Earnings, adjusted for one-time gains and costs, came to $6.51 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $6.10 per share.
The maker of motion and control products posted revenue of $5.07 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $5.08 billion.
Parker-Hannifin expects full-year earnings in the range of $24.65 to $24.85 per share.
_____
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
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
