By Dave Sebastian

Parker-Hannifin Corp. (PH) said its first-quarter profit rose, though revenue fell.

The motion-and-control-technology company posted net income of $338.9 million, or $2.60 a share, compared with $375.7 million, or $2.79 a share, in the same quarter last year. Analysts polled by FactSet were expecting $2.61 a share.

On an adjusted basis, earnings were $2.76 a share, compared with $2.84 a share a year earlier. Analysts were looking for $2.66 a share.

Revenue for the quarter was $3.33 billion, compared with $3.48 billion a year ago. Analysts were expecting $3.33 billion.

On an organic basis, sales declined 3%, the company said.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

October 31, 2019 07:58 ET (11:58 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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