Parker-Hannifin reported Tuesday morning reporting their 3Q2012 Earnings. They recorded record sales, Net
Income, and EPS for third quarter results. Net Sales grew to $3.39 Billion,
against estimates of $3.28 Billion, while Net Income reached $312 Million, and
EPS totaled $2.01 per share, beating expected EPS by 19.6%. They achieved these
numbers through an 11.6% increase in North American sales and an increase of
7.7% in the Aerospace Segment. With the relatively positive 3Q2012 earnings,
Parker was able to raise their EPS range FY2012 from $6.90-$7.30 a share to
$7.30-$7.50 a share. The company also raised their dividend to $.41 a quarter,
a 5% increase over the previous number. The stock reacted well, going up 6.99% since
the earnings announcement and closed Wednesday at $87.08.
-Matthew Buechele
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