Parker Hannifin Corp. Q3 Profit Increases, Beats Estimates

(RTTNews) - Parker Hannifin Corp. (PH) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $960.87 million, or $7.37 per share. This compares with $726.57 million, or $5.56 per share, last year.

Excluding items, Parker Hannifin Corp. reported adjusted earnings of $903.84 million or $6.94 per share for the period.

Analysts on average had expected the company to earn $6.72 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 2.2% to $4.960 billion from $5.074 billion last year.

Parker Hannifin Corp. earnings at a glance (GAAP) :

-Earnings: $960.87 Mln. vs. $726.57 Mln. last year. -EPS: $7.37 vs. $5.56 last year. -Revenue: $4.960 Bln vs. $5.074 Bln last year.

-Guidance: Full year EPS guidance: $26.60 to $26.80