Investing.com - Parker-Hannifin reported on Thursday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Parker-Hannifin announced earnings per share of $2.55 on revenue of $3.16B. Analysts polled by Investing.com anticipated EPS of $1.51 on revenue of $2.87B.
Parker-Hannifin shares are down 9% from the beginning of the year and are trading at $194.50 , down-from-52-week-high.They are under-performing the S&P 500 which is up 3% from the start of the year.
Parker-Hannifin shares gained 4.79% in pre-market trade the report.
Parker-Hannifin follows other major Basic Materials sector earnings this month
Parker-Hannifin's report follows an earnings beat by Air Products on July 23, who reported EPS of $2.01 on revenue of $2.07B, compared to forecasts EPS of $1.98 on revenue of $2.06B.
Vale ADR had missed expectations on July 30 with second quarter EPS of $0.19 on revenue of $7.52B, compared to forecast for EPS of $0.29 on revenue of $7.56B.
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