CLEVELAND (AP) — CLEVELAND (AP) — Parker-Hannifin Corp. (PH) on Thursday reported fiscal first-quarter profit of $808 million.
The Cleveland-based company said it had net income of $6.29 per share. Earnings, adjusted for one-time gains and costs, were $7.22 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $6.67 per share.
The maker of motion and control products posted revenue of $5.08 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $4.94 billion.
Parker-Hannifin expects full-year earnings in the range of $29.60 to $30.40 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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