Parker-Hannifin Corporation Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023
February 01, 2024 at 08:01 am EST
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Parker-Hannifin Corporation reported earnings results for the second quarter and six months ended December 31, 2023. For the second quarter, the company reported sales was USD 4,820.95 million compared to USD 4,674.81 million a year ago. Net income was USD 681.85 million compared to USD 395.24 million a year ago. Basic earnings per share from continuing operations was USD 5.31 compared to USD 3.08 a year ago. Diluted earnings per share from continuing operations was USD 5.23 compared to USD 3.04 a year ago.
For the six months, sales was USD 9,668.44 million compared to USD 8,907.59 million a year ago. Net income was USD 1,332.68 million compared to USD 783.09 million a year ago. Basic earnings per share from continuing operations was USD 10.38 compared to USD 6.1 a year ago. Diluted earnings per share from continuing operations was USD 10.23 compared to USD 6.03 a year ago.
Parker Hannifin Corporation specializes in designing, manufacturing, and selling monitoring and control systems. Net sales break down by family of products as follows:
- industrial systems (84.1%): industrial pipes, pipe connectors and adapters, oil filters, air filters, motors, hydraulic pumps and valves, pneumatic accessories, diagnostic equipment, climate control and monitoring systems (carbonic gas control systems, electronic controllers, pressure regulators, electromagnetic valves, thermostatic pressure relief valves), etc. North America accounts for 57.7% of net sales;
- aerospace systems and components (15.9%): flight control systems, fluid flow automation and monitoring systems, hydraulic components, brakes, etc. intended for military and commercial aircraft.
Net sales break down geographically as follows: North America (64.4%), Europe (19.9%), Asia-Pacific (14.4%) and Latin America (1.3%).