Parker net income increases 6%
Parker Hannifin Corp. says it achieved record margins in its fiscal third quarter. Sales were $5.0 billion, and organic sales growth was 1%.
Net income was $961 million, an increase of 32%, or $904 million adjusted, an increase of 6%. Segment operating margin was 23.2%, an increase of 170 bps, and year-to-date cash flow from operations increased 8% to $2.3 billion, or 15.8% of sales
“Our third quarter performance demonstrates the strength of our business and our global team’s ability to continue to deliver record results,” said Chairman and Chief Executive Officer Jenny Parmentier. “All reported businesses showed substantial margin expansion and helped us surpass 26% adjusted segment operating margin for the first time. We also produced record earnings per share, generated record cash flow from operations, and repurchased $650 million of shares. We recently announced a 10% increase in our quarterly cash dividend and are committed to our strategy of actively deploying capital to drive shareholder value, including acquisitions and increased share repurchase activity, depending on market conditions."
"The resiliency of our portfolio coupled with the power of our business system, The Win Strategy, has enabled us to consistently deliver strong results through business cycles," she added. "With our decentralized structure and the agility of our global teams, we are confident in our ability to manage through macroeconomic uncertainty, including tariffs. We are fully committed to achieving our fiscal year 2029 financial targets.”
The company has updated its guidance for the fiscal year ending June 30, 2025 – it now expects sales growth in fiscal 2025 of approximately (1%), with organic sales growth of approximately 1%; divestitures of (1.5%) and unfavorable currency of (0.5%).
INDUSTRIAL SUPPLY MAGAZINE
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