Posted August 7, 2020

Parker Hannifin sales decline 14.1 percent

Parker Hannifin Corporation said yesterday its fiscal 2020 fourth quarter sales were $3.16 billion, a 14.1 percent decline from $3.68 billion in the prior year quarter.

Net income was $295.7 million, or $2.27 per share, compared with $413.7 million, or $3.27 per share, in the fourth quarter of fiscal 2019. 

For the full year, fiscal 2020 sales were $13.70 billion, 4.3 percent lower than $14.32 billion in fiscal 2019. Net income was $1.21 billion, or $9.29 per share, compared with $1.51 billion, or $11.48 per share in the prior year.

Diversified Industrial segment North American fourth quarter sales decreased 18 percent to $1.4 billion. International fourth quarter sales decreased 13 percent to $1.1 billion.

Aerospace Systems segment fourth quarter sales decreased 8 percent to $624.0 million.