WASHINGTON (dpa-AFX) - (Adds Outlook)

Parker Hannifin Corp. (PH) announced a profit for its first quarter that
increased from the same period last year and beat the Street estimates.

The company's earnings totaled $650.827 million, or $4.99 per share. This
compares with $387.854 million, or $2.98 per share, in last year's first
quarter.

Excluding items, Parker Hannifin Corp. reported adjusted earnings of $776.437
million or $5.96 per share for the period.

Analysts on average had expected the company to earn $5.31 per share, according
to figures compiled by Thomson Reuters. Analysts' estimates typically exclude
special items.

The company's revenue for the quarter rose 14.5% to $4.847 billion from $4.232
billion last year.

Outlook:

Looking ahead, citing its strong first-quarter financial performance,
Parker-Hannifin has raised its full-year 2024 earnings guidance, above analysts'
estimates. However, it revised down the sales growth forecast.

For the 12-month period to June 30, 2024, PH now expects adjusted income per
share of $22.60 to $23.40 against previous forecast of $21.90 to $22.90.  On
average, 19 analysts polled by Thomson Reuters project the firm to earn $22.62
per share, for the year. Analysts' estimates typically exclude special items.

Net earnings per share is now anticipated in the range of $18.73 to $19.53,
higher than its previous outlook of $18.05 to $19.05. Parker-Hannifin now
forecasts total sales growth of 2.5 percent to 5.5 percent, but lesser than its
earlier guidance of 3 percent to 6 percent.

Analysts, on average expect the company to post revenue of $19.95 billion, for
the year.

Parker Hannifin Corp. Q1 earnings at a glance (GAAP) :

-Earnings (Q1): $650.827 Mln. vs. $387.854 Mln. last year.
-EPS (Q1): $4.99 vs. $2.98 last year.
-Analyst Estimate: $5.31
-Revenue (Q1): $4.847 Bln vs. $4.232 Bln last year.



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