Parker-Hannifin's quarterly profit beats estimates on aircraft parts demand

Parker-Hannifin

30/01/2025 16:05

Jan 30 (Reuters) - Parker-Hannifin  PH.N  on Thursday
posted a quarterly profit that surpassed estimates, driven by
higher demand for its aircraft parts and components, sending its
shares up 6% in morning trade.
    Faced with a jet shortage amid strong travel demand,
airlines have resorted to flying older, maintenance-intensive
aircraft, boosting the need for replacement parts. 
    Meanwhile, despite supply chain issues, increased production
efforts by plane manufacturers are benefiting parts suppliers
like Parker, who are seeing a surge in orders.
    Parker, which supplies airframes and engine components to
Boeing  BA.N  and Airbus  AIR.PA , posted a second-quarter
adjusted profit per share of $6.53, surpassing analysts' average
estimate of $6.23, according to data compiled by LSEG. 
    The company, however, marginally tightened its 2025 adjusted
profit forecast range to between $26.40 and $27.00 per share,
citing a delay in industrial recovery and currency headwinds.

 (Reporting by Utkarsh Shetti in Bengaluru; Editing by Vijay
Kishore)
 ((UtkarshUmesh.Shetti@thomsonreuters.com;))