Parker-Hannifin reports record sales, increases dividend 11 percent

Cleveland, OH — Parker-Hannifin Corp. reported higher sales and record profitability in its fiscal 2026 third quarter, driven by strong demand in its aerospace and industrial businesses and continued margin expansion and declared a quarterly cash dividend of $2.00 per share of common stock to shareholders of record as of May 8, 2026. The dividend is payable June 5, 2026. The dividend represents an 11% increase over the previous quarterly cash dividend of $1.80 per common share and will be the 304th consecutive quarterly dividend paid by the company.

Net sales rose to $5.49 billion from $4.96 billion in the same period a year earlier, an increase of about 11%.

Net income totaled $904 million, or $7.06 per diluted share, compared with $961 million, or $7.37 per diluted share, in the prior-year quarter.

Adjusted segment operating income increased, supported by strong execution across the company’s Diversified Industrial and Aerospace Systems segments. Adjusted segment operating margin reached a record level for the quarter.

Sales growth included a 12.7% increase in the International Businesses segment, driven by strength in Europe and Asia Pacific. Aerospace Systems also posted strong results, with sales up 15.5% and operating income rising more than 20% year over year.

The company said organic growth was 2.8%, led by industrial, off-highway and energy markets. Order rates remained strong at 9%, with particularly robust demand in aerospace and long-cycle industrial applications.

Parker also reported continued strength in its backlog, which reached a record level of $12.5 billion, reflecting growth in both industrial and aerospace segments.

The company said adjusted segment operating margin improved to a record level, supported by pricing actions, productivity gains and favorable business mix.

Chief Executive Officer Jenny Parmentier said demand trends remained solid across most end markets, with continued strength in aerospace and steady conditions in industrial segments despite global economic uncertainty.

The company said it continues to focus on operational efficiency, margin expansion and disciplined capital allocation while navigating mixed demand conditions across global markets.

Parker said it expects continued momentum into the remainder of fiscal 2026, supported by strong order activity and backlog visibility across its core businesses.