Parker-Hannifin Q2 2022 Earnings Report
Key Takeaways
Parker-Hannifin reported a 12% increase in sales to a second quarter record of $3.82 billion. The company's segment operating margin also reached a record at 19.4% as reported, or 21.6% adjusted. Net income was $387.6 million, with an EPS of $2.97 as reported, or $4.46 adjusted. The company has increased its fiscal year 2022 EPS guidance.
Sales increased 12% to a second quarter record at $3.82 billion.
Organic sales increased 13%.
Segment operating margin was a second quarter record at 19.4% as reported, or 21.6% adjusted.
Company increases fiscal 2022 EPS guidance.
Parker-Hannifin
Parker-Hannifin
Parker-Hannifin Revenue by Segment
Forward Guidance
For the fiscal year ending June 30, 2022, the company has increased guidance for earnings per share to the range of $14.42 to $14.92, or $17.80 to $18.30 on an adjusted basis. Guidance assumes organic sales growth of approximately 10% to 12% compared with the prior year.
Positive Outlook
- Positive demand trends are expected to continue.
- Confident in ability to navigate the Omicron variant.
- Confident in ability to navigate supply chain challenges ahead.
- Encouraged with the progress being made on the regulatory clearances required for the closure of the Meggitt acquisition.
- Remain strongly positioned to deliver sustainable long-term growth and top quartile performance.