CLEVELAND, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today reported results for the quarter ended September 30, 2026 that included the following highlights (compared with the prior year period):

Fiscal 2027 First Quarter Highlights:

• Sales increased 18% to a record $6.0 billion; organic sales increased 11.5%; acquisitions added 7%
• Net income was $0.9 billion, an increase of 9%, or $1.1 billion adjusted, an increase of 23%
• EPS increased 10% to $6.92, adjusted EPS increased 23% to a record $8.90
• Segment operating margin was 24.4%, an increase of 20 bps, or 28.6% adjusted, an increase of 120 bps
• FY27 outlook increased for organic sales growth, adjusted segment operating margin, adjusted EPS and free cash flow
  
  

“Parker team members delivered an exceptional quarter of record performance and an impressive start to our fiscal year,” said Jenny Parmentier, Chairman and Chief Executive Officer. “We experienced increased demand across all market verticals, resulting in double-digit organic sales growth and record backlog levels. Strong market conditions, combined with execution of The Win Strategy™, delivered record adjusted segment operating margin of 28.6% and adjusted earnings per share growth of 23%. We are pleased to have completed the acquisition of Filtration Group Corporation, significantly expanding our filtration offering and aftermarket business and are excited to welcome these talented team members to Parker. With strong first quarter performance and increased order rates, we are raising our full year fiscal 2027 guidance for organic sales growth, adjusted segment operating margin, adjusted earnings per share and free cash flow.”

This news release contains non-GAAP financial measures. Reconciliations of adjusted numbers and certain non-GAAP financial measures are included in the financial tables of this press release.

Fiscal 2027 Outlook
The company has updated guidance for the fiscal year ending June 30, 2027, which now includes Filtration Group Corporation.

• Reported sales growth of 16.0% to 19.0%
• Organic sales growth of 7.5% to 10.5%; acquisitions of 9%, and currency of (0.5%)
• Segment operating margin of 23.6% to 24.0%, or 27.7% to 28.1% on an adjusted basis
• EPS of $29.65 to $30.45, or $36.45 to $37.25 on an adjusted basis
  
  

Fiscal 2027 First Quarter Segment Results

Diversified Industrial Segment

• Record sales with growth across all market verticals; Organic sales growth of 9%
• Segment operating margin of 23.0% includes expenses related to the Filtration Group acquisition
• Record adjusted segment operating margin of 27.6%, up 60 bps from 27.0% in the prior-year quarter
  
  

• Record sales with growth led by APAC
• Organic growth: 23% APAC, 4% EMEA, (1%) LA
• Record adjusted segment operating margin of 27.7%, up 270 bps from 25.0% in the prior-year quarter
  
  

Aerospace Systems Segment

• Record sales with double-digit OEM and Aftermarket growth
• Record adjusted segment operating margin of 30.7%, up 70 bps from 30.0% in the prior-year quarter
• Strong orders drive backlog to a new record
  
  

Rolling 12-Month Order Rates

• Double digit order rates across all businesses as backlog reaches a record $13.7 billion
  
  

About Parker Hannifin
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Learn more at www.parker.com or @parkerhannifin.

Notice of Webcast
Parker Hannifin's conference call and slide presentation to discuss its fiscal 2027 first quarter results are available to all interested parties via live webcast today at 11:00 a.m. ET, at investors.parker.com. A replay of the webcast will be available on the site approximately one hour after the completion of the call and will remain available for one year. To register for e-mail notification of future events, please visit investors.parker.com.

Note on Orders
The company reported orders for the 12 months ended September 30, 2026, compared with the prior year period. All comparisons are at constant currency exchange rates, with the prior year quarter restated to the current-year rates, and exclude divestitures. Beginning in fiscal year 2027, all order comparisons are on rolling 12-month average computations.

Note on Non-GAAP Financial Measures
This press release contains references to non-GAAP financial information including (a) adjusted net income; (b) adjusted earnings per share; (c) adjusted segment operating margin for Parker and by segment; (d) adjusted segment operating income for Parker and by segment; (e) free cash flow; and (f) organic sales growth. These measures are presented to allow investors and the company to meaningfully evaluate changes in net income, earnings per share, segment operating margins, cash flow and sales growth on a comparable basis from period to period. Although these measures are not measures of performance calculated in accordance with GAAP, we believe that they are useful to an investor in evaluating Parker's performance or expected performance for the periods presented. Additionally, adjusted net income, adjusted earnings per share and organic sales growth include an adjustment related to IEEPA tariff returns to customers, which returns we believe are discrete, non-operating items that are not indicative of our ongoing operations. Comparable descriptions of record adjusted results in this release refer only to the period from the first quarter of FY2011 to the periods presented in this release. This period coincides with recast historical financial results provided in association with our FY2014 change in segment reporting. A reconciliation of non-GAAP measures is included in the financial tables of this press release.

Forward-Looking Statements
Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. Often but not always, these statements may be identified from the use of forward-looking terminology such as “anticipates,” “believes,” “may,” “should,” “could,” “expects,” “targets,” “is likely,” “will,” or the negative of these terms and similar expressions, and may also include statements regarding future performance, orders, earnings projections, events or developments. Parker cautions readers not to place undue reliance on these statements. It is possible that the future performance may differ materially from expectations, including those based on past performance.

Among other factors that may affect future performance are: changes in business relationships with and orders by or from major customers, suppliers or distributors, including delays or cancellations in shipments; disputes regarding contract terms, changes in contract costs and revenue estimates for new development programs; changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions, including the pending acquisition of CIRCOR International Inc.'s Commercial and Defense Aerospace business and the integration of Filtration Group Corporation and Curtis Instruments, Inc.; ability to successfully divest businesses planned for divestiture and realize the anticipated benefits of such divestitures; the determination and ability to successfully undertake business realignment activities and the expected costs, including cost savings, thereof; ability to implement successfully business and operating initiatives, including the timing, price and execution of share repurchases and other capital initiatives; availability, cost increases of or other limitations on our access to raw materials, component products and/or commodities if associated costs cannot be recovered in product pricing; ability to manage costs related to insurance and employee retirement and health care benefits; legal and regulatory developments and other government actions, including related to environmental protection, and associated compliance costs; supply chain and labor disruptions, including as a result of tariffs and labor shortages; threats associated with international conflicts, including geopolitical tensions in the Middle East, and cybersecurity risks and risks associated with protecting our intellectual property; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; effects on market conditions, including sales and pricing, resulting from global reactions to U.S. trade policies; manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and economic conditions such as inflation, deflation, interest rates and credit availability; inability to obtain, or meet conditions imposed for, required governmental and regulatory approvals; changes in the tax laws in the United States and foreign jurisdictions and judicial or regulatory interpretations thereof; and large scale disasters, such as floods, earthquakes, hurricanes, industrial accidents and pandemics. Readers should also consider forward-looking statements in light of risk factors discussed in Parker’s Annual Report on Form 10-K for the fiscal year ended June 30, 2026 and other periodic filings made with the SEC.