CLEVELAND (AP) — CLEVELAND (AP) — Parker-Hannifin Corp. (PH) on Thursday reported fiscal fourth-quarter net income of $923 million.
The Cleveland-based company said it had profit of $7.16 per share. Earnings, adjusted for one-time gains and costs, came to $7.69 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $7.08 per share.
The maker of motion and control products posted revenue of $5.24 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $5.1 billion.
For the year, the company reported profit of $3.53 billion, or $27.12 per share. Revenue was reported as $19.85 billion.
Parker-Hannifin expects full-year earnings in the range of $28.40 to $29.40 per share.
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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
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