Parker's ongoing transformation enables sustainable growth, new 5-year targets announced at investor meeting indicate promising future

Cleveland, march 08, 2022 (globe newswire) -- parker hannifin corporation (nyse: ph), the global leader in motion and control technologies, today hosted a virtual investor meeting where the leadership team presented an update on the company's ongoing transformation by implementing the win strategy 3.0™, reviewed key secular growth trends that are expected to accelerate organic sales growth, and announced new financial performance targets for the fiscal year ending june 30, 2027. the win strategy 3.0 is the parker business system and establishes goals for engaged people, premier customer experience, profitable growth and financial performance. “the completed acquisitions of clarcor, lord corporation and exotic metals forming along with the pending acquisition of meggitt plc continue to transform parker,” said tom williams, chairman and ceo. “this has resulted in our portfolio becoming more balanced toward higher growth, longer cycle, higher margin businesses. these portfolio changes, combined with continued implementation of the win strategy 3.0 across our operations and the engagement of our team members, have contributed to an acceleration of parker's financial performance. we continue to see opportunities to take our performance to even higher levels, leading us to commit to new five-year financial targets.”
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