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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Parker Hannifin Corp | NYSE:PH | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 3.75 | 0.68% | 554.54 | 557.3499 | 549.03 | 552.77 | 159,757 | 17:54:50 |
From May 2019 to May 2024
By Carlo Martuscelli
Parker Hannifin Corp. (PH) on Thursday reported a 77% fall in fiscal second-quarter net income after posting a $224.5 million expense related to U.S. tax reform.
The Cleveland-based motion and control technology company earned a quarterly profit of $56.2 million, or 41 cents a share, compared with $241.3 million, or $1.78 a share, for the same period last year.
Excluding items, Parker Hannifin reported an adjusted profit of $2.15 a share for the quarter. Analysts expected a profit of $1.89 a share, according to FactSet.
Sales rose to $3.37 billion from $2.67 billion for the second quarter ended Dec. 31, 2016, topping analysts forecasts of $3.32 billion.
Chief Executive Tom Williams said improved market conditions and the implementation of Parker Hannifin's business strategy had resulted in improvements across the company, pointing to growing sales and improved margins.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
February 01, 2018 08:09 ET (13:09 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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