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In The News:

Parker Hannifin Reports February Orders Up 5%

Parker Hannifin Corporation,Cleveland, OH, reported orders for the North American Industrial businesses increased five percent over the same month last year, while Rest-of-World Industrial orders also increased five percent. In the Climate and Industrial Controls business (CIC) order rates were 15 percent lower, compared with last year. Parker Aerospace reported a 16 percent increase in orders on a rolling 12-months basis.


In the North American Industrial segment, the company noted order strength in oil & gas, heavy-duty truck, general industrial, and marine markets, offset by weak demand in automotive and semiconductor. Distribution remains strong. In the Rest-of-World Industrial segment, orders in Europe remain positive. The decrease in CIC can be attributed to softening in automotive production schedules.


In Aerospace, both commercial OEM and aftermarket orders continue to gain momentum. Defense also remains strong.


Orders provide near-term perspective on the company's outlook, but are not in themselves an indication of future performance. All comparisons are at constant currency exchange rates, with the prior year restated to the current-year rates. All exclude acquisitions until they can be reflected in both the numerator and denominator. Aerospace comparisons are rolling 12-month average computations to mitigate volatility within monthly figures.


 

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