Parker Hannifin Corp. Q2 Profit Increases, Beats Estimates

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

The company's earnings totaled $948.54 million, or $7.25 per share. This compares with $681.85 million, or $5.23 per share, last year.

Excluding items, Parker Hannifin Corp. reported adjusted earnings of $853.23 million or $6.53 per share for the period.

Analysts on average had expected the company to earn $6.23 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 1.6% to $4.742 billion from $4.820 billion last year.

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

-Earnings: $948.54 Mln. vs. $681.85 Mln. last year. -EPS: $7.25 vs. $5.23 last year. -Revenue: $4.742 Bln vs. $4.820 Bln last year.

-Guidance: Full year EPS guidance: $26.40 to $27.00