Parker Reports Fiscal 2020 Third Quarter Results
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Parker-Hannifin (PH) Tops Q3 EPS by 68c, Revenues Beat; Withdraws FY20 Guidance
April 30, 2020 7:32 AM EDTParker-Hannifin (NYSE: PH) reported Q3 EPS of $2.92, $0.68 better than the analyst estimate of $2.24. Revenue for the quarter came in at $3.7 billion versus the consensus estimate of $3.57 billion.
The third quarter was a strong quarter for Parker during the early stages of this historic period of global disruption, said Chairman and Chief Executive Officer, Tom Williams. Despite an organic sales decline of 7.4%, we delivered strong adjusted total segment operating margin, and adjusted EBITDA margin was 19.3%, an improvement of 60 basis points compared with the same quarter a year ago. Our year-to-date operating... More
