Parker Hannifin saw a decline in sales in its fiscal third quarter, but its earnings jumped by nearly one-third compared to the same period last year.
The company also raised its earnings forecast heading into the final quarter of its fiscal year — adding that announced tariffs would be “fully offset by mitigation actions.”
The motion and control supplier posted $4.96 billion in net sales, down from $5.07 billion in the same quarter of 2024. Net income, however, rose from $726.7 million to $961.2 million — up 32% year-over-year.
Company officials said its organic sales were up 1% in the latest quarter and highlighted “substantial” margin expansion across all its reported businesses, as well as record earnings per share and cash flow from operations.
Parker's adjusted outlook anticipates a 1% decline in overall sales growth, which includes 1% organic growth that would be offset by the impacts of currency rates and divestitures. Its earnings forecast, meanwhile, was increased from $24.46 to $25.06 per share midway through the year up to $25.92 to $26.12 per share.
“With our decentralized structure and the agility of our global teams, we are confident in our ability to manage through macroeconomic uncertainty, including tariffs,” Parker Chairman and CEO Jenny Parmentier said in a statement. “We are fully committed to achieving our fiscal year 2029 financial targets.”
