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Dec 31, 2022
Parker-Hannifin Q2 2023 Earnings Report
Parker-Hannifin reported record sales, record adjusted net income, and record adjusted EPS.
Key Takeaways
Parker-Hannifin reported a strong second quarter in fiscal year 2023, with record sales of $4.67 billion, a 22% increase from the previous year. Adjusted net income was $618.9 million, and adjusted EPS reached a record $4.76. The company has increased its full-year organic growth and adjusted EPS guidance.
Sales increased 22% to $4.67 billion; organic sales increased 10%.
Total segment operating margin was 15.3%, or 21.5% adjusted.
Net income was $395.2 million, or $618.9 million adjusted.
EPS were $3.04, or $4.76 adjusted.
Revenue by Segment
Forward Guidance
Parker expects another year of record performance in fiscal 2023. They anticipate $300 million of synergies from the Meggitt acquisition and remain committed to fiscal year 2027 financial targets.
Positive Outlook
- Expects fiscal 2023 organic sales growth to be in the range of 6% to 8%.
- Forecasted earnings per diluted share to be in the range of $13.50 to $14.00.
- Adjusted forecasted earnings per diluted share to be in the range of $19.20 to $19.70.
- Plans to deliver $300 million of synergies from the acquisition of Meggitt.
- Remains committed to fiscal year 2027 financial targets.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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