Parker Hannifin Corp. Q2 Profit Decreases, but beats estimates

(RTTNews) - Parker Hannifin Corp. (PH) revealed earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $387.60 million, or $2.97 per share. This compares with $448.35 million, or $3.42 per share, in last year's second quarter.

Excluding items, Parker Hannifin Corp. reported adjusted earnings of $582.18 million or $4.46 per share for the period.

Analysts on average had expected the company to earn $3.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.0% to $3.82 billion from $3.41 billion last year.

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

-Earnings (Q2): $387.60 Mln. vs. $448.35 Mln. last year. -EPS (Q2): $2.97 vs. $3.42 last year. -Analyst Estimates: $3.91 -Revenue (Q2): $3.82 Bln vs. $3.41 Bln last year.

-Guidance: Full year EPS guidance: $17.80 to $18.30