Parker Hannifin Corp. Q2 Profit Increases, beats estimates

(RTTNews) - Parker Hannifin Corp. (PH) reported a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $395.237 million, or $3.04 per share. This compares with $387.600 million, or $2.97 per share, in last year's second quarter.

Excluding items, Parker Hannifin Corp. reported adjusted earnings of $618.854 million or $4.76 per share for the period.

Analysts on average had expected the company to earn $4.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.2% to $4.674 billion from $3.824 billion last year.

Parker Hannifin Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $395.237 Mln. vs. $387.600 Mln. last year. -EPS (Q2): $3.04 vs. $2.97 last year. -Analyst Estimate: $4.46 -Revenue (Q2): $4.674 Bln vs. $3.824 Bln last year.

-Guidance: Full year EPS guidance: $19.20 to $19.70