Parker-Hannifin tops fourth-quarter results on aerospace parts demand
Aug 7 (Reuters) - Parker-Hannifin PH.N posted fourth-quarter revenue and profit that topped Wall Street expectations on Thursday, driven by sustained demand for its aerospace parts and motion control products, sending its shares up 4.5% in premarket trading.
The supplier of airframes and engine components to Boeing BA.N and Airbus AIR.PA has banked on rising demand, as planemakers ramp production to meet orders for new jets.
Airlines also have had to fly an older fleet amid a persistent shortage of new aircraft, propelling orders for replacement parts from players like Parker.
On an adjusted basis, it reported a profit of $7.69 per share in the fourth quarter, surpassing analysts' average estimate of $7.10, according to data compiled by LSEG.
The company's aerospace segment saw sales rise 9.7% to $1.68 billion, pushing total revenue to $5.24 billion. Analysts had expected sales of $5.11 billion.
Parker forecast its fiscal 2026 profit between $28.40 and $29.40 per share on an adjusted basis, compared with estimates of $29.02.
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