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April 29 , 2021 Parker Parker Reports Fiscal 2021 Third Quarter Results and Increases Fiscal 2021 Full Year Guidance - - All - time quarterly records for net income , EPS and segment operating margins - Net income was $ 471.6 million ; EPS were $ 3.59 as reported , or $ 4.11 adjusted EBITDA margin was 21.6 % as reported , or 21.8 % adjusted - Total segment operating margin reached 19.0 % as reported , or 21.4 % adjusted - Cash flow from operations was a Q3 YTD record at $ 1.88 billion , or 18.1 % of sales - Total order rates turned positive , led by strong demand in Diversified Industrial Segment CLEVELAND , April 29 , 2021 ( GLOBE NEWSWIRE ) -- Parker Hannifin Corporation ( NYSE : PH ) , the global leader in motion and control technologies , today reported results for the fiscal 2021 third quarter ended March 31 , 2021. Fiscal 2021 third quarter sales were $ 3.75 billion , compared with $ 3.70 billion in the third quarter of fiscal 2020. Net income was an all- time quarterly record at $ 471.6 million , an increase of 28 % compared with $ 367.3 million in the prior year quarter . Fiscal 2021 third quarter earnings per share were also an all - time quarterly record at $ 3.59 , an increase of 27 % compared with $ 2.83 in the third quarter of fiscal 2020. Adjusted earnings per share increased 21 % to $ 4.11 , compared with adjusted earnings per share of $ 3.39 in the prior year quarter . Fiscal year - to - date cash flow from operations was a third quarter record at $ 1.88 billion , reaching 18.1 % of sales , compared with $ 1.29 billion , or 12.3 % of sales in the prior year period . A reconciliation of non - GAAP measures is included in the financial tables of this press release . “ In the third quarter , we delivered all - time quarterly records for net income , EPS and segment operating margins , ” said Chairman and Chief Executive Officer , Tom Williams . " We also generated record year - to - date cash from operations and continued to accelerate the pay down of available debt , putting us in a very strong financial position . Our results reflect sustainable performance improvements across our business . These include strengthening our portfolio through the effective integration and accelerated synergies from our acquisitions . Broad - based execution of The Win Strategy ™ continues to drive improved profitability and cash flow . Order rates increased by 6 % in the third quarter , reinforcing our view that demand is at a positive inflection point . " TM In the fiscal 2021 third quarter , the company made debt repayments of $ 426 million , bringing the cumulative debt reduction to approximately $ 3.2 billion over the last 17 months . Also during the quarter , the company made share repurchases of $ 50 million under its 10b5-1 share repurchase program . As announced last week , Parker's Board of Directors declared an increase of 17 % to the quarterly cash dividend , which extends its long - standing record of annual dividends per share paid to 65 consecutive fiscal years .