Parker reports Q1 Fiscal 2018

10 November 2017

Parker Hannifin Corporation (PH) has reported results for the fiscal 2018 Q1 ended September 30, 2017. Fiscal 2018 Q1 sales increased 23% to USD 3.36B compared with USD 2.74B in the prior year quarter. Net income increased 36% to USD 285.5M compared with USD 210.2 million in the prior year quarter. Fiscal 2018 Q1 earnings per share increased 36% to USD 2.10, compared with USD 1.55 in the fiscal Q1 2017. Earnings per share increased 40% to USD 2.24 when adjusted for business realignment expenses, CLARCOR costs to achieve and a loss related to the sale of an investment, compared with earnings per share of USD 1.61 in the prior year quarter, which was adjusted for business realignment expenses. Fiscal year to date, net cash provided by operating activities was USD 239.0M or 7.1% of sales, compared with USD 113.9M or 4.2% of sales in the prior year period.

Parker reported that orders increased 11% for total Parker. The orders increased 10% in the diversified industrial North America businesses, 15% in the diversified industrial International businesses, and 4% in the eerospace systems segment on a rolling 12-month average basis.