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Parker-Hannifin fiscal Q1 profit climbs 19.9% YOY

Parker-Hannifin Corp. said its normalized net income for the fiscal first quarter ended Sept. 30 came to $1.67 per share, compared with the S&P Capital IQ consensus estimate of $1.67 per share.

EPS increased 20.5% year over year from $1.38.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $252.0 million, an increase of 19.9% from $210.3 million in the prior-year period.

The normalized profit margin climbed to 7.7% from 6.5% in the year-earlier period.

Total revenue rose on an annual basis to $3.27 billion from $3.23 billion, and total operating expenses totaled $2.85 billion, compared with $2.87 billion in the year-earlier period.

Reported net income grew 14.3% on an annual basis to $279.5 million, or $1.85 per share, from $244.5 million, or $1.61 per share.