Parker-Hannifin Surpasses Q4 Estimates with $6.77 EPS and $5.19B Revenue

Aug 8, 2024, 11:40 AM

Parker-Hannifin has reported impressive fourth-quarter earnings, surpassing Wall Street's profit and revenue estimates. The company achieved an adjusted earnings per share of $6.77 and generated revenue of $5.19 billion, marking a 2% year-over-year growth. Net income rose by 10.68% to $785.07 million. The strong performance is attributed to sustained demand for Parker-Hannifin's aircraft systems and a record segment operating margin. The company has also issued a strong guidance for fiscal year 2025, which has led to a surge in its stock price.