Parker Hannifin on Thursday reported record sales in its latest quarter and raised its outlook for the remainder of its fiscal year.
The motion and control technologies provider posted a better-than-expected $5.17 billion in net sales in its fiscal second quarter, a 9% increase compared to the same period in late 2024.
Net earnings were down 11% year-over-year, which the company attributed to a one-time gain from divestitures in the previous Q2; on an adjusted basis, earnings were up 15%. Its segment operating margin, meanwhile, climbed by 180 basis points to 23.9%.
“This was another outstanding quarter that reflected the performance of our global team, the power of our business system, ‘The Win Strategy,’ and the strength of our transformed portfolio,” Parker Hannifin Chairman and CEO Jenny Parmentier said in a statement. “We delivered record sales with organic sales growth of nearly 7% and growth across all reported businesses.”
The company now anticipates sales growth of between 5.5% and 7.5% for the full fiscal year, along with earnings of between $26.26 and $26.86 per share. Annual segment operating margin is expected to come in between 23.7% and 24.1%. Parmentier cited the record results for the upgrade, as well as "robust aerospace demand" and "continued gradual recovery in our industrial markets."
