Parker-Hannifin Reports Q2 Earnings Beat, Revenue Miss
Cleveland-based Parker-Hannifin Corp. (PH) reported fiscal second-quarter net income of $948.5 million, resulting in earnings per share (EPS) of $7.25. Excluding one-time items, adjusted EPS reached $6.53, surpassing analysts' estimates of $6.22 per share.
Revenue for the quarter came in at $4.74 billion, falling short of expectations of $4.8 billion.
Parker-Hannifin's full-year earnings guidance is now in the range of $26.40 to $27 per share.