CLEVELAND (AP) — CLEVELAND (AP) — Parker-Hannifin Corp. (PH) on Thursday reported fiscal third-quarter profit of $904 million.
On a per-share basis, the Cleveland-based company said it had net income of $7.06. Earnings, adjusted for one-time gains and costs, came to $8.17 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $7.85 per share.
The maker of motion and control products posted revenue of $5.49 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $5.37 billion.
Parker-Hannifin expects full-year earnings to be $31.20 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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