Parker announces record first quarter sales
Parker Hannifin Corp., a global provider of motion and control technologies, reported sales increased 18% to a record $6 billion for its first fiscal quarter ended Sept. 30.
Net income was $0.9 billion, an increase of 9%, or $1.1 billion adjusted, an increase of 23% year over year.
“Parker team members delivered an exceptional quarter of record performance and an impressive start to our fiscal year,” said Chairman and Chief Executive OfficerJenny Parmentier. “We experienced increased demand across all market verticals, resulting in double-digit organic sales growth and record backlog levels.
Strong market conditions, combined with execution of The Win Strategy, delivered record adjusted segment operating margin of 28.6% and adjusted earnings per share growth of 23%. We are pleased to have completed the acquisition of Filtration Group Corp., significantly expanding our filtration offering and aftermarket business and are excited to welcome these talented team members to Parker. With strong first quarter performance and increased order rates, we are raising our full year fiscal 2027 guidance for organic sales growth, adjusted segment operating margin, adjusted earnings per share and free cash flow.”
INDUSTRIAL SUPPLY MAGAZINE
The September/October issue of Industrial Supply magazine features an in-depth cover story about Rotator Products. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
