Feb 15, 2022
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UPDATE 2-Parker Hannifin profit tops estimates
* Sees FY 2012 EPS $7.25 to $7.85NEW YORK, Oct 18 (Reuters) - Parker Hannifin Corp reported a higher-than-expected quarterly profit, lifted by sales of industrial motion-control systems and stronger margins in its aerospace segment, and the company raised its full-year profit forecast.Net earnings rose 20 percent to $298.1 million, or $1.91 per share, in the fiscal first quarter that ended Sept. 30, from $249 million, or $1.51 per share, a year earlier.Analysts, on average, expected a profit of $1.69 per share, according to Thomson Reuters I/B/E/S.Sales rose 14 percent to $3.23 billion, also ahead of Wall Street forecasts.Orders rose in three of the company's four divisions.Citing order growth and other factors, Parker raised its fiscal 2012 profit forecast to a range of $7.25 to $7.85 per share from its August forecast of $6.70 to $7.50 a share. Analysts were expecting profit of $7 for the year.Parker, which competes with Pall Corp , Eaton Corp and Honeywell International Inc , makes fluid power systems, electromechanical controls and related components for manufacturing, transportation and aerospace industries.