Parker-Hannifin Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2022
May 05, 2022 at 07:30 am EDT
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Parker-Hannifin Corporation reported earnings results for the third quarter and nine months ended March 31, 2022. For the third quarter, the company reported sales was USD 4,086.39 million compared to USD 3,746.33 million a year ago. Net income was USD 348.02 million compared to USD 473.15 million a year ago. Basic earnings per share from continuing operations was USD 2.71 compared to USD 3.67 a year ago. Diluted earnings per share from continuing operations was USD 2.67 compared to USD 3.6 a year ago.
For the nine months, sales was USD 11,673.78 million compared to USD 10,388.77 million a year ago. Net income was USD 1,186.77 million compared to USD 1,241.31 million a year ago. Basic earnings per share from continuing operations was USD 9.23 compared to USD 9.63 a year ago. Diluted earnings per share from continuing operations was USD 9.1 compared to USD 9.5 a year ago.
Parker Hannifin Corporation specializes in designing, manufacturing, and selling monitoring and control systems. Net sales break down by family of products as follows:
- industrial systems (84.1%): industrial pipes, pipe connectors and adapters, oil filters, air filters, motors, hydraulic pumps and valves, pneumatic accessories, diagnostic equipment, climate control and monitoring systems (carbonic gas control systems, electronic controllers, pressure regulators, electromagnetic valves, thermostatic pressure relief valves), etc. North America accounts for 57.7% of net sales;
- aerospace systems and components (15.9%): flight control systems, fluid flow automation and monitoring systems, hydraulic components, brakes, etc. intended for military and commercial aircraft.
Net sales break down geographically as follows: North America (64.4%), Europe (19.9%), Asia-Pacific (14.4%) and Latin America (1.3%).
PARKER-HANNIFIN CORPORATION 
