Parker Hannifin Corp. Q2 Profit Increases, beats estimates

(RTTNews) - Parker Hannifin Corp. (PH) announced earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $681.851 million, or $5.23 per share. This compares with $395.237 million, or $3.04 per share, in last year's second quarter.

Excluding items, Parker Hannifin Corp. reported adjusted earnings of $802.379 million or $6.15 per share for the period.

Analysts on average had expected the company to earn $5.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.1% to $4.820 billion from $4.674 billion last year.

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

-Earnings (Q2): $681.851 Mln. vs. $395.237 Mln. last year. -EPS (Q2): $5.23 vs. $3.04 last year. -Analyst Estimate: $5.26 -Revenue (Q2): $4.820 Bln vs. $4.674 Bln last year.