Cleveland, Ohio-based Parker-Hannifin Corporation PH is a prominent built-up components & equipment company, conducting trade in the global industrial goods sector. The company produces control and motion technologies as well as systems that are traded across different aerospace, industrial and mobile marketplaces located around the world.PH’s “Win Strategy,” which aims to measure excellence of customer service through efficient business and cash management schemes, continues to be one of its major strengths. Also, impressive performance of the company’s Aerospace System has been a key driver of growth over the past few quarter.However, continuous strengthening of the U.S. dollar and sluggishness in key industrial end-markets of late have proved to be a major drag on the company’s financials of late. In the last four trailing quarters, PH has reported a positive average earnings surprise of 3.36%, beating the estimates thrice.Currently, PH has a Zacks Rank #3 (Hold) but that could change following its third-quarter fiscal 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:Earnings: PH beat on earnings. Adjusted Earnings per share came in at $1.51, higher than the Zacks Consensus Estimate of $1.46.Revenue: Revenues of $2,828.7 million, higher than the Zacks Consensus Estimate of $2,776 million.Key Stats: PH aims to boost its revenues and margins on the back of its newly implemented Win Strategy. The company also perceives that superior innovations, customer services and strategic growth plans would even help in strengthening its financial fundamentals in the near term. Based on the existing conditions PH has raised its full year fiscal 2016 adjusted earnings guidance to the range of $6.20 to $6.40 per share from $5.90 to $6.30 per share. Stock Price: PH shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.Check back later for our full write up on this PH earnings report later!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PARKER HANNIFIN (PH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research