Mayfield Heights-based Parker Hannifin Corp. (NYSE: PH), the maker of motion and control technologies, reported record first-quarter sales and net income figures and raised its guidance for fiscal 2022.
The company on Nov. 4 reported fiscal 2022 first-quarter sales hit a first-quarter record of $3.76 billion, up 17 percent from sales of $3.23 billion in the first quarter of fiscal 2021. Net income also posted a first-quarter record, at $451.2 million, which was an increase of 41 percent from $319.8 million in the like quarter a year ago.
Fiscal 2022 first-quarter earnings per share were a record $3.45, also up 41 percent from $2.45 in the first quarter of fiscal 2021.