TECH - Parker-Hannifin Delivers Robust Q1 FY24 Performance Aerospace Segment Sales Soar | Benzinga
Parker-Hannifin Corp (NYSE: PH) reported first-quarter FY24 sales growth of 15% year-over-year to $4.85 billion and +2% on an organic basis, missing the consensus of $4.88 billion.
Adjusted EPS improved to $5.96 from $4.74 in the first quarter of 2023, beating the consensus of $5.31.
Segment Sales: Diversified Industrial North America $2.23 billion (+4.6% Y/Y), Diversified Industrial International $1.39 billion (+2.5% Y/Y) and Aerospace Systems $1.23 billion (+64.7% Y/Y).
The total segment operating margin for the quarter was 22.3%, and on an adjusted basis, the segment operating margin expanded 220 ...