Parker Hannifin Corp. Q1 Profit Increases, beats estimates

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

The company's earnings totaled $650.827 million, or $4.99 per share. This compares with $387.854 million, or $2.98 per share, in last year's first quarter.

Excluding items, Parker Hannifin Corp. reported adjusted earnings of $776.437 million or $5.96 per share for the period.

Analysts on average had expected the company to earn $5.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.5% to $4.847 billion from $4.232 billion last year.

Parker Hannifin Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $650.827 Mln. vs. $387.854 Mln. last year. -EPS (Q1): $4.99 vs. $2.98 last year. -Analyst Estimate: $5.31 -Revenue (Q1): $4.847 Bln vs. $4.232 Bln last year.