Parker(PH)

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Kaon Interactive Powers Parker Hannifin's Digital Transformation to Drive Market Segment Growth
Prnewswire· 2024-06-26 13:45
Parker has chosen the Kaon High Velocity Marketing Platform to help accelerate its digital transformation, focusing on interactive customer engagement applications. Kaon's solutions enable dynamic interaction with customers, allowing them to explore and understand the impact and value of various Parker technologies. This initiative aligns with Parker's target to achieve organic growth in key markets by 4-6% annually. About Kaon Interactive HOUSTON, June 26, 2024 /PRNewswire/ -- Kaon Interactive, the leader ...
Parker-Hannifin: 'ETF-Like' Industrial Dividend Giant Poised For Long-Term Gains
Seeking Alpha· 2024-06-13 10:11
Introduction Even better, and with regard to my aerospace comments, going forward, the company believes it is in a great spot to capitalize on several long-term secular trends, including clean technology, electrification, digitalization, and aerospace. To add some details, the company's clean technology initiatives, like hydrogen fuel cells and electrolyzers, are expected to capture a $5 billion market through 2030, with double-digit revenue growth. 4 Acr g Market tes III co Verticals In Plan Aerospace & De ...
Parker-Hannifin (PH) to Gain From Business Strength Amid Risks
ZACKS· 2024-06-03 17:01
The company remains focused on acquiring businesses to gain access to new customers, regions and product lines. In September 2022, it acquired Meggitt plc, a global leader in motion and control technologies. The acquisition expanded PH's presence in the UK, positioning it well to provide a broader suite of solutions for aircraft, and aero-engine components and systems. Acquisitions boosted the company's sales by 3.4% in the first nine months of fiscal 2024. Parker-Hannifin has been gaining from its unique W ...
Parker's Promising Future Highlighted at Investor Day, Win Strategy™ Enables Sustainable Growth, New 5-Year Targets Announced
Newsfilter· 2024-05-16 21:00
CLEVELAND, May 16, 2024 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies, today hosted its 2024 investor meeting where members of the Office of the Chief Executive presented an update on the company's ongoing transformation, detailed how Parker is positioned for continued growth from secular trends, reinforced the importance of The Win StrategyTM in driving growth and margin expansion, and announced new five-year financial performance targets fo ...
Parker's Promising Future Highlighted at Investor Day, Win Strategy™ Enables Sustainable Growth, New 5-Year Targets Announced
globenewswire.com· 2024-05-16 21:00
CLEVELAND, May 16, 2024 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today hosted its 2024 investor meeting where members of the Office of the Chief Executive presented an update on the company's ongoing transformation, detailed how Parker is positioned for continued growth from secular trends, reinforced the importance of The Win StrategyTM in driving growth and margin expansion, and announced new five-year financial performance targets f ...
Parker(PH) - 2024 Q3 - Quarterly Report
2024-05-03 20:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File number 1-4982 PARKER-HANNIFIN CORPORATION (Exact name of registrant as specified in its charter) | | | (State or other jurisdiction of Incorporation o ...
Parker(PH) - 2024 Q3 - Quarterly Results
2024-05-02 11:53
"We produced record results this quarter across nearly all key metrics, a reflection of the strength of our transformed portfolio and our global team's ability to drive operational improvements," said Chairman and Chief Executive Officer, Jenny Parmentier. "We delivered significant adjusted segment operating margin improvement with our Aerospace Systems Segment delivering another standout quarter. Our strong performance also led to record year-to-date operating cash flow." | For Release: | Immediately | Exh ...
Parker(PH) - 2024 Q2 - Quarterly Report
2024-02-06 12:41
Financial Performance - Net sales increased to $4,821 million in Q3 2023, up from $4,675 million in Q3 2022, driven by higher sales in the Aerospace Systems Segment[85] - Gross profit margin improved to 35.7% in Q3 2023, compared to 30.8% in Q3 2022, due to price increases, favorable product mix, and moderating material costs[85][87] - Net income rose to $682 million in Q3 2023, representing 14.1% of sales, up from $395 million (8.5% of sales) in Q3 2022[85] - Operating margin in North America increased to 21.9% in Q3 2023, up from 19.6% in Q3 2022, driven by price increases and cost containment[94][102] - Aerospace Systems Segment operating margin increased to 20.1% in the current-year quarter, up from 0.8% in the prior-year quarter[108] - Cash flows from operating activities increased by $276 million to $1,352 million in the first six months of fiscal 2024 compared to the same period in fiscal 2023[118] Sales and Revenue - The acquisition of Meggitt contributed approximately $501 million to net sales in the first six months of fiscal 2024[86] - Currency exchange rate changes increased net sales by $25 million in Q3 2023, with $16 million attributable to the Diversified Industrial Segment and $9 million to the Aerospace Systems Segment[85] - Diversified Industrial North America sales decreased 1.4% in Q3 2023, but increased 1.6% in the first six months of fiscal 2024, with currency exchange rate changes adding $7 million and $18 million, respectively[96] - Diversified Industrial International sales increased by 0.5% in the current-year quarter and 1.5% in the first six months of fiscal 2024, with currency exchange rates contributing $9 million and $34 million, respectively[98] - The Acquisition contributed approximately $38 million to sales in the first six months of fiscal 2024 for Diversified Industrial International[98] - Sales in the Asia Pacific region decreased in the current-year quarter and first six months of fiscal 2024, primarily due to lower end-user demand in semiconductor, construction equipment, and industrial machinery markets[100] - Aerospace Systems Segment sales increased by $386 million in the first six months of fiscal 2024 due to the Acquisition[109] Expenses and Costs - Selling, general and administrative expenses (SG&A) decreased to $807 million in Q3 2023, down from $815 million in Q3 2022, primarily due to lower research and development expenses[89] - Corporate general and administrative expenses remained flat at $50 million in the current-year quarter and $106 million in the first six months of fiscal 2024[115] - Capital expenditures increased to $204 million in fiscal 2024 from $186 million in fiscal 2023[121] - A 100 basis point increase in near-term interest rates would increase annual interest expense on variable rate debt by approximately $23 million[136] Tax and Dividends - The effective tax rate for Q3 2023 was 21.4%, down from 23.5% in Q3 2022, due to a net decrease in tax costs and an increase in discrete tax benefits[85][93] - The company declared a quarterly dividend of $1.48 per share on October 25, 2023, and January 25, 2024, marking 294 consecutive quarters of dividend payments[120] Inventory and Receivables - Days sales outstanding for trade accounts receivable was 50 days at December 31, 2023, compared to 51 days at June 30, 2023 and December 31, 2022[118] - Days supply of inventory on hand was 96 days at December 31, 2023, compared to 85 days at June 30, 2023 and 98 days at December 31, 2022[119] Acquisitions and Divestitures - The company repurchased 0.2 million common shares for $100 million during fiscal 2024, compared to 0.4 million shares for $100 million in fiscal 2023[121] - Net proceeds from the sale of the aircraft wheel and brake business were approximately $441 million in fiscal 2023[121] Financial Position and Liquidity - The company's foreign subsidiaries held $327 million in cash and cash equivalents as of December 31, 2023, down from $422 million as of June 30, 2023[122] - The company is authorized to sell up to $3.0 billion of short-term commercial paper notes, with $1.2 billion outstanding as of December 31, 2023[123] - The company has a $3.0 billion line of credit, with $1.8 billion available as of December 31, 2023[124] - The company's debt to debt-shareholders' equity ratio was 0.51 to 1.0 as of December 31, 2023, below the covenant limit of 0.65 to 1.0[127] - The company's long-term credit ratings as of December 31, 2023 were BBB+ (Fitch and S&P) and Baa1 (Moody's)[128] Backlog and Segment Performance - The backlog for the Diversified Industrial Segment stood at $4,429 million as of December 31, 2023, compared to $4,966 million in the prior year[94]
Parker(PH) - 2024 Q2 - Earnings Call Transcript
2024-02-01 18:42
Call Start: 11:00 January 1, 0000 11:49 AM ET Parker-Hannifin Corporation (NYSE:PH) Q2 2024 Earnings Conference Call February 01, 2024 11:00 AM ET Company Participants Jennifer A. Parmentier - Chairman and Chief Executive Officer Todd M. Leombruno - Executive Vice President and Chief Financial Officer Conference Call Participants Joe Ritchie - Goldman Sachs Julian Mitchell - Barclays Bank Scott Davis - Melius Research Nicole DeBlase - Deutsche Bank Nathan Jones - Stifel Mircea Dobre - Baird Joe O’Dea - Well ...
Parker(PH) - 2024 Q1 - Quarterly Report
2023-11-07 12:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File number 1-4982 PARKER-HANNIFIN CORPORATION (Exact name of registrant as specified in its charter) | | | (State or other jurisdiction of Incorporati ...