Parker Reports Monthly Orders Up Across All Segments
Parker Hannifin Corporation reported orders for the month of October in the company's industrial, aerospace and Climate and Industrial Control segments.
- Orders for the North American Industrial businesses increased 7 percent over the same month last year. Orders in this segment remain strong, particularly in construction, heavy-duty truck, and oil & gas markets.
- Rest-of-World Industrial orders increased 5 percent, mainly in Asia and Europe, over the same month last year.
- Parker Aerospace reported a 12 percent increase in orders on a rolling 12-month basis. The company noted year-over-year strength in commercial and military markets, for both OEM and aftermarket orders.
- In the Climate and Industrial Controls segment order rates increased 31 percent compared to last year, driven by commercial and residential air conditioning. This growth in orders excludes the impact of the 2004 Sporlan acquisition. Sporlan orders will be included in Parker's monthly reported orders beginning next month.
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.
Source: Parker Hannifin Corp