Parker Hannifin on Thursday posted a slight drop in sales in its recently completed fiscal year, but its fourth quarter set a new company record.
The motion and control technology provider reported net sales of $19.85 billion in the 12 months ending in June, down from $19.93 billion in the previous year. Company officials, however, highlighted 1% organic sales growth for the year, and net income climbed from $2.85 billion last year up to $3.53 billion â an increase of 24%.
The company wrapped up the year with a record $5.24 billion in fourth-quarter sales, up from $5.19 billion in the previous Q4, and net income of $923 million, an increase of 18% year-over-year.
Parker Chairman and CEO Jenny Parmentier added that the company posted a record year for earnings per share, margins and cash flow, as well as safety and engagement.
âDelivering strong margin expansion and earnings growth in a dynamic macro environment is a testament to the resilience of our portfolio and the power of our business system,â Parmentier said in the companyâs earnings release.
Parkerâs topline numbers were buoyed by increases in its aerospace systems segment, which offset quarterly and annual declines in its industrial business. Parmentier said that although aerospace is expected to remain its fastest-growing segment, the company also anticipates âa return to positive organic growth in our industrial businesses.â
Parkerâs initial FY2026 forecast outlined overall sales growth of between 2% and 5% for the year.
