CLEVELAND (AP) — CLEVELAND (AP) — Parker-Hannifin Corp. (PH) on Thursday reported fiscal fourth-quarter net income of $1.09 billion.
The Cleveland-based company said it had net income of $8.54 per share. Earnings, adjusted for non-recurring costs, were $9.27 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $8.29 per share.
The maker of motion and control products posted revenue of $5.76 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $5.61 billion.
For the year, the company reported profit of $3.65 billion, or $28.48 per share. Revenue was reported as $21.5 billion.
Parker-Hannifin expects full-year earnings in the range of $34.25 to $35.25 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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