Parker-Hannifin said net sales for the current-year quarter rose on higher sales in the Aerospace Systems Segment, partially offset by lower sales in the Diversified Industrial Segment. Currency exchange rate changes reduced net sales for the quarter by approximately $31 million, and divestiture activity reduced sales by approximately $16 million.

10-QQuarterly reportFiled May 3, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Parker-Hannifin said net sales for the current-year quarter rose on higher sales in the Aerospace Systems Segment, partially offset by lower sales in the Diversified Industrial Segment. Currency exchange rate changes reduced net sales for the quarter by approximately $31 million, and divestiture activity reduced sales by approximately $16 million.
The company said sales in Diversified Industrial North America fell 4.7% in the current-year quarter and 0.7% in the first 9 months of fiscal 2024, while International sales fell 5.9% in the quarter and 1.2% in the first 9 months. It cited lower demand in the refrigeration, cars and light trucks, and turf markets in North America for the quarterly decline.
Parker-Hannifin said Aerospace Systems Segment sales rose in the current-year quarter and in the first 9 months of fiscal 2024. It said sales also increased by $386 million in the first 9 months due to the Acquisition. Backlog as of March 31, 2024 was higher than the $6.2 billion recorded on June 30, 2023.
The company said cash flow from operating activities for the first 9 months of fiscal 2024 was $2,147 million, compared with $1,795 million a year earlier, an increase of $352 million. Net commercial paper repayments over the same period totaled $941 million, and commercial paper outstanding as of March 31, 2024 was $0.8 billion.

Key figures

Quarter ended March 31, 2024

Revenue: $5.1B
Operating income: $1.0B
Net income: $727M
EPS: $5.56

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net Sales Growth Drivers and Currency and Divestiture Effects

Parker-Hannifin said net sales for the current-year quarter rose on higher sales in the Aerospace Systems Segment, partially offset by lower sales in the Diversified Industrial Segment. Currency exchange rate changes reduced net sales for the quarter by approximately $31 million, and divestiture activity reduced sales by approximately $16 million.

Source · Based on the MD&A text of the filing

Diversified Industrial North America and International Sales Declines

The company said sales in Diversified Industrial North America fell 4.7% in the current-year quarter and 0.7% in the first 9 months of fiscal 2024, while International sales fell 5.9% in the quarter and 1.2% in the first 9 months. It cited lower demand in the refrigeration, cars and light trucks, and turf markets in North America for the quarterly decline.

Source · Based on the MD&A text of the filing

Aerospace Systems Sales and Backlog

Parker-Hannifin said Aerospace Systems Segment sales rose in the current-year quarter and in the first 9 months of fiscal 2024. It said sales also increased by $386 million in the first 9 months due to the Acquisition. Backlog as of March 31, 2024 was higher than the $6.2 billion recorded on June 30, 2023.

Source · Based on the MD&A text of the filing

Nine-Month Operating Cash Flow and Commercial Paper

The company said cash flow from operating activities for the first 9 months of fiscal 2024 was $2,147 million, compared with $1,795 million a year earlier, an increase of $352 million. Net commercial paper repayments over the same period totaled $941 million, and commercial paper outstanding as of March 31, 2024 was $0.8 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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