Tuesday, Parker Hannifin Corp. (PH) reported second-quarter net income of $104.6 million or $0.64 per share, compared to $155.4 million or $0.96 per share in the same quarter last year.
On average, 15 analysts polled by Thomson Reuters expected the company to earn $0.36 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter were $2.4 billion, down 12.4% from $2.7 billion in the comparable quarter last year. Analysts expected the company to report revenue of $2.25 billion for the quarter.
Looking ahead to the fiscal year 2010, the company raised its guidance for earnings from continuing operations to a range of $2.40 - $2.80 per share. Analysts currently anticipate the company to earn $2.02 per share.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.