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Parker-Hannifin fiscal Q1 profit climbs 32.7% YOY

Parker-Hannifin Corp. said its normalized net income for the fiscal first quarter ended Sept. 30 came to $1.85 per share, compared with the S&P Capital IQ consensus estimate of $2.04 per share.

EPS climbed 32.7% year over year from $1.39.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $251.2 million, an increase of 32.7% from $189.3 million in the prior-year period.

The normalized profit margin increased to 7.5% from 6.9% in the year-earlier period.

Total revenue grew 22.7% on an annual basis to $3.36 billion from $2.74 billion, and total operating expenses increased 20.8% on an annual basis to $2.92 billion from $2.42 billion.

Reported net income grew 35.5% year over year to $285.2 million, or $2.10 per share, from $210.5 million, or $1.55 per share.