Parker Hannifin (NYSE: PH) reported earnings on April 24. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q3), Parker Hannifin beat expectations on revenue and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased and GAAP earnings per share improved significantly.

Gross margin dropped, operating margin were steady, and net margin expanded.

Revenue details
Parker Hannifin tallied revenue of $3.39 billion. The 10 analysts polled by S&P Capital IQ predicted a top line of $3.29 billion on the same basis. GAAP reported sales were 4.7% higher than the prior-year quarter's $3.24 billion.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $2.01. The 15 earnings estimates compiled by S&P Capital IQ averaged $1.72 per share. GAAP EPS of $2.01 for Q3 were 20% higher than the prior-year quarter's $1.68 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 23.7%, 40 basis points worse than the prior-year quarter. Operating margin was 12.5%, about the same as the prior-year quarter. Net margin was 9.2%, 60 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $3.42 billion. On the bottom line, the average EPS estimate is $1.90.

Next year's average estimate for revenue is $13.06 billion. The average EPS estimate is $7.08.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 547 members out of 561 rating the stock outperform, and 15 members rating it underperform. Among 169 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 167 give Parker Hannifin a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Parker Hannifin is outperform, with an average price target of $93.79.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.