Parker’s Promising Future Highlighted at Investor Day, Win Strategy Enables Sustainable Growth, New 5-Year Targets Announced

• Portfolio Aligned with Secular Trends Driving Long Term Growth Opportunities 
• Parker’s Business System The Win Strategy^TM Proven to Deliver Top Quartile Performance
• Operational Excellence Creates Growth and Margin Expansion Opportunities
• Announces New 5-Year Financial Targets on Strength of People, Portfolio and Strategy

CLEVELAND, May 16, 2024 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today hosted its 2024 investor meeting where members of the Office of the Chief Executive presented an update on the company’s ongoing transformation, detailed how Parker is positioned for continued growth from secular trends, reinforced the importance of The Win Strategy^TM in driving growth and margin expansion, and announced new five-year financial performance targets for fiscal year 2029. The Win Strategy^TM is the Parker business system and establishes goals and strategies for engaged people, premier customer experience, profitable growth and financial performance.

“Parker is a very different company today,” said Jenny Parmentier, Chairman and CEO. “Our portfolio of interconnected technologies strengthens our competitive position, increases resiliency, and aligns us with secular trends that are expected to sustain organic sales growth. In addition, the Win Strategy provides the necessary tools to drive continuous improvement and operational excellence which compounds performance. Given our performance and our promising future, we have announced new five-year targets that would keep us among the top quartile of our peer companies.”

Parmentier began the meeting with a strategic overview of Parker’s ongoing transformation and a review of how Parker is positioned for growth.  Andy Ross, President and Chief Operating Officer provided an overview of how Parker’s highly engaged global team deploys The Win Strategy^TM 3.0 to drive operational excellence and deliver exceptional results with further opportunities for growth and margin expansion. A financial review by Todd Leombruno, Executive Vice President and Chief Financial Officer, highlighted Parker’s ongoing ability to generate strong cash flow leaving substantial capital deployment optionality to drive shareholder returns.  A replay of the presentations is available at investors.parker.com.