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Parker-Hannifin (PH) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

Parker-Hannifin (PH) reported $5.07 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 0.3%. EPS of $6.51 for the same period compares to $5.93 a year ago.

The reported revenue represents a surprise of -0.03% over the Zacks Consensus Estimate of $5.08 billion. With the consensus EPS estimate being $6.10, the EPS surprise was +6.72%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Parker-Hannifin performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net sales- Aerospace Systems: $1.41 billion versus the three-analyst average estimate of $1.31 billion. The reported number represents a year-over-year change of +17.9%.

  • Net sales- Diversified Industrial- International: $1.43 billion versus $1.47 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -5.9% change.

  • Net sales- Diversified Industrial- North America: $2.23 billion versus $2.30 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -4.7% change.

  • Adjusted Segment operating income- Diversified Industrial- North America: $538.30 million compared to the $535.10 million average estimate based on three analysts.

  • Adjusted Segment operating income- Aerospace Systems: $376.10 million versus $336.60 million estimated by three analysts on average.

  • Adjusted Segment operating income- Diversified Industrial- International: $336.57 million compared to the $344.80 million average estimate based on three analysts.

View all Key Company Metrics for Parker-Hannifin here>>>

Shares of Parker-Hannifin have returned -2.8% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research