Parker Hannifin Corp. Q3 Profit Falls 29%

(RTTNews) - Parker Hannifin Corp. (PH) released earnings for third quarter that dropped from last year.

The company said its profit totaled $206.37 million, or $1.51 per share. This was lower than $291.81 million, or $2.06 per share, in last year's third quarter.

Analysts had expected the company to earn $1.44 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 10.4% to $2.83 billion. This was down from $3.16 billion last year.

Parker Hannifin Corp. earnings at a glance:

-Earnings (Q3): $206.37 Mln. vs. $291.81 Mln. last year. -Earnings Decline (Y-o-Y): -29.3% -EPS (Q3): $1.51 vs. $2.06 last year. -EPS Decline (Y-o-Y): -26.7% -Analysts Estimate: $1.44 -Revenue (Q3): $2.83 Bln vs. $3.16 Bln last year. -Revenue Change (Y-o-Y): -10.4%

-Guidance: Full year EPS guidance: 6.20 - $6.40