Investing.com - Parker-Hannifin reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Parker-Hannifin announced earnings per share of $2.92 on revenue of $3.70B. Analysts polled by Investing.com anticipated EPS of $2.24 on revenue of $3.57B. That with comparison to EPS of $3.17 on revenue of $3.69B in the same period a year before.Parker-Hannifin had reported EPS of $2.54 on revenue of $3.5B in the previous quarter.Analysts are expecting EPS of $1.25 and revenue of $3.01B in the upcoming quarter.
Parker-Hannifin shares are down 23% from the beginning of the year and are trading at $156.86 , down-from-52-week-high.They are under-performing the S&P 500 which is down 9.4% year to date.
Parker-Hannifin follows other major Basic Materials sector earnings this month
Parker-Hannifin's report follows an earnings missed by Air Products on April 23, who reported EPS of $2.04 on revenue of $2.22B, compared to forecasts EPS of $2.08 on revenue of $2.16B.
Sherwin-Williams had beat expectations on Wednesday with first quarter EPS of $4.08 on revenue of $4.15B, compared to forecast for EPS of $3.92 on revenue of $4.13B.
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