CLEVELAND (AP) — Parker-Hannifin Corp. on Thursday reported fiscal fourth-quarter profit of $785 million.
On a per-share basis, the maker of motion and control products said it had profit of $6.01. Earnings, adjusted for one-time gains and costs, came to $6.77 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $6.23 per share.
The posted revenue of $5.19 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $5.1 billion.
For the year, the Cleveland-based company reported profit of $2.84 billion, or $21.84 per share. Revenue was reported as $19.93 billion.
Parker-Hannifin expects full-year earnings in the range of $26.30 to $27 per share.
