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Parker-Hannifin Corporation (NYSE: PH) is a Fortune 250 global leader in motion and control technologies. For over a century, Parker has been engineering breakthroughs across a wide array of diversified industrial and aerospace markets. The company's products and services are crucial to a variety of applications, including the manufacture and processing of raw materials, durable goods, infrastructure development, and various forms of transport.
Parker operates through two major segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment covers technologies such as engineered materials, filtration, fluid connectors, instrumentation, and motion systems. This segment alone boasts 17,100 independent distributors, with about 40% of its business occurring outside the United States. Each technology group within this segment creates essential solutions that enhance the functionality and efficiency of countless products and systems worldwide.
The Aerospace Systems segment, on the other hand, deals with advanced technologies for engine and actuation components, significantly contributing to the aerospace industry. This segment has seen remarkable growth, partly attributed to the recent acquisition of Meggitt PLC, which has enhanced Parker’s capabilities and market reach.
Financially, Parker-Hannifin has consistently showcased robust performance. For instance, in the fiscal 2024 first quarter, the company reported record sales of $4.8 billion, marking a 15% increase from the previous year. Net income surged to $650.8 million, up from $387.9 million, highlighting the firm's strong financial health and strategic execution. The company's focus on operational excellence and continuous improvement, driven by their Win Strategy™, has enabled consistent growth and record performance across all segments.
Recent updates reveal Parker’s ambitious goals and future outlook. The company has updated its guidance for the fiscal year ending June 30, 2024, projecting total sales growth between 3% to 5% and earnings per share in the range of $20.00 to $20.60, or $23.90 to $24.50 on an adjusted basis. These projections are bolstered by Parker’s strong cash flow, operational efficiencies, and the positive impact of strategic acquisitions.
Parker-Hannifin's ongoing transformation and commitment to innovation ensure that it remains at the forefront of its industry. The company’s emphasis on safety, customer service, and operational excellence, combined with favorable market trends, sets the stage for continued success and shareholder value.
For more information, visit www.parker.com or follow Parker on Twitter at @parkerhannifin.
Parker Hannifin Corporation (NYSE: PH) reported record fiscal 2022 first-quarter results for sales, net income, and earnings per share. Sales rose 17% to $3.76 billion, with net income increasing by 41% to $451.2 million. Earnings per share reached $3.45, up 41% year-over-year. Adjusted EBITDA margin improved to 22.1%. The company raised its fiscal year EPS guidance to $14.52 to $15.22, driven by a robust demand outlook across various sectors. Orders increased by 26%, indicating strong future performance.
Parker Hannifin Corporation (NYSE: PH) declared a quarterly cash dividend of $1.03 per share, payable on December 3, 2021, to shareholders of record by November 12, 2021. This marks the company's 286th consecutive quarterly dividend and continues its streak of increasing annual dividends for 65 years, ranking among the top five longest-running dividend-increase records in the S&P 500 Index.
Parker Hannifin Corporation (NYSE: PH) announced it will release its fiscal 2022 Q1 earnings on November 4, 2021, before the market opens. A conference call will follow at 11:00 a.m. Eastern time to discuss the results and answer questions from investors and analysts. Parker, a leader in motion and control technologies, has raised its annual dividend for 65 consecutive years, ranking among the top five for longest-running dividend increases in the S&P 500. The conference call will be available via webcast on the company's investor website.
Parker Hannifin Corporation (NYSE: PH) will hold its Annual Meeting of Shareholders virtually on October 27, 2021, starting at 9:00 a.m. ET. The meeting can be accessed live via a webcast at www.virtualshareholdermeeting.com/PH2021 or through Parker's investor website. The webcast will remain archived for one year. Parker is a Fortune 250 leader in motion and control technologies, boasting a 65-year history of annual dividend increases, ranking among the top five in the S&P 500.
Parker Hannifin Corporation (NYSE: PH) announces that Meggitt shareholders have approved the cash acquisition of Meggitt PLC, set to close in Q3 2022, pending regulatory clearances and court approval. The acquisition aims to create a leading provider of aerospace solutions, enhancing R&D investments and operational integration. Meggitt, with 2020 revenues of approximately $2.3 billion, provides diverse technology across major aircraft platforms. The move is seen as strategic for fostering innovation and creating value for stakeholders, with commitments for cultural integration and responsible management.
Parker Aerospace, a segment of Parker Hannifin (NYSE: PH), has been honored as Supplier of the Year by Commercial Aircraft Corporation of China (COMAC) for exceptional customer service in support of the ARJ21 program in 2020. This accolade emphasizes Parker's Customer Support Operations, particularly its Hydraulic Systems Division and Parker Aerospace China. The award was accepted by PAC's General Manager Stephen Tien at a virtual conference attended by over 1,000 representatives. Parker achieved high on-time delivery rates and has established local ARJ21 MRO capabilities in Xi’an, China.
Parker Hannifin Corporation (NYSE:PH) announced executive leadership changes on August 13, 2021. Lee C. Banks has been appointed Vice Chairman and President, shifting his focus to regional growth strategies. Jennifer A. Parmentier is promoted to Chief Operating Officer, bringing her extensive experience from her previous role as President of the Motion Systems Group. Berend Bracht succeeds Parmentier as the President of Motion Systems Group, having previously led Parker LORD’s integration. This transition is part of Parker’s strategic succession planning aimed at continued company transformation.
Parker Hannifin Corporation (NYSE: PH) has declared a quarterly cash dividend of $1.03 per share, set to benefit shareholders of record as of August 27, 2021, with payment on September 10, 2021. This marks the 285th consecutive quarterly dividend for the company, illustrating its robust performance and commitment to returning value to shareholders. Parker has maintained an impressive record, increasing its annual dividends for 65 consecutive fiscal years, positioning it among the top five in the S&P 500 Index.
Parker Hannifin Corporation reported all-time records in sales, net income, and EPS for the fourth quarter and fiscal year ending June 30, 2021. Fourth quarter sales reached $3.96 billion, a 25% increase, with EPS soaring by 72% to $3.84. Full year sales were $14.35 billion, up 5%, and net income rose 45% to $1.75 billion. The company also announced plans to acquire Meggitt PLC, potentially doubling its Aerospace Systems segment. Guidance for fiscal 2022 EPS ranges from $14.08 to $14.88, indicating robust organic growth expectations of 5% to 9%.
Parker Hannifin Corporation (NYSE: PH) has announced a cash acquisition of Meggitt, valued at $2.3 billion, aimed at strengthening its aerospace systems segment.
This acquisition aligns with Parker's strategic vision, The Win Strategy™, enhancing its capabilities in aerospace and defense technologies. The deal is subject to regulatory approvals and shareholder consent from Meggitt. Parker's CEO emphasized a commitment to integrating Meggitt responsibly while maintaining its heritage and culture in British industry.
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