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Parker-Hannifin fiscal Q2 profit climbs 23.1% YOY

Parker-Hannifin Corp. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to $1.48 per share, compared with the S&P Capital IQ consensus estimate of $1.55 per share.

EPS climbed 26.4% year over year from $1.17.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $219.2 million, an increase of 23.1% from $178.0 million in the year-earlier period.

The normalized profit margin increased to 7.0% from 5.7% in the year-earlier period.

Total revenue totaled $3.13 billion, compared with $3.11 billion in the prior-year period, and total operating expenses decreased from the prior-year period to $2.77 billion from $2.81 billion.

Reported net income rose 5.6% on an annual basis to $266.7 million, or $1.80 per share, from $252.6 million, or $1.66 per share.