Parker Hannifin Corp. Q1 adjusted earnings Beat Estimates

(RTTNews) - Parker Hannifin Corp. (PH) announced a profit for its first quarter that increased from the same period last year.

The company's profit came in at $451.16 million, or $3.45 per share. This compares with $319.80 million, or $2.45 per share, in last year's first quarter.

Analysts had expected the company to earn $3.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.4% to $3.76 billion from $3.23 billion last year.

Parker Hannifin Corp. earnings at a glance:

-EPS (Q1): $4.26 vs. $3.05 last year. -Analysts Estimate: $3.68 -Revenue (Q1): $3.76 Bln vs. $3.23 Bln last year.

-Guidance: Full year EPS guidance: $16.95 to $17.65