Parker Hannifin Q3 Profit Rises - Quick Facts

(RTTNews) - Parker Hannifin Corporation (PH), the global leader in motion and control technologies, reported third-quarter net income to shareholders of $285.4 million, an increase of 18 percent, compared to $242.4 million in the third quarter of fiscal 2014. Earnings per share were $2.02, compared to $1.60, prior year. Adjusting for restructuring expenses, earnings per share were $2.06 in the fiscal 2015 third quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $1.99 for the quarter. Analysts' estimates typically exclude special items.

Sales decreased 6 percent to $3.16 billion, primarily as a result of the impact of changes in foreign currency rates, compared with $3.36 billion in the same quarter a year ago. Analysts expected revenue of $3.30 billion for the quarter. For the fiscal year ending June 30, 2015, the company has revised guidance for earnings from continuing operations to the range of $7.25 to $7.45 per share, or $7.55 to $7.75 per share on an adjusted basis. Analysts expect the company to report fiscal 2015 earnings per share of $8.01.