Parker reports fiscal 2022 second quarter results

Cleveland, feb. 03, 2022 (globe newswire) -- parker hannifin corporation (nyse: ph), the global leader in motion and control technologies, today reported results for the fiscal 2022 second quarter ended december 31, 2021. fiscal 2022 second quarter sales were a second quarter record at $3.82 billion, an increase of 12%, compared with $3.41 billion in the second quarter of fiscal 2021. net income was $387.6 million, compared with $448.4 million in the prior year quarter. fiscal 2022 second quarter adjusted net income was $582.2 million, compared with $451.6 million in fiscal 2021. adjustments include an unrealized pre-tax loss of $149 million in the fiscal 2022 second quarter on the deal contingent forward contracts related to the previously announced acquisition of meggitt plc. earnings per share were $2.97, compared with $3.42 in the second quarter of fiscal 2021. adjusted earnings per share increased 29% to $4.46, compared with adjusted earnings per share of $3.45 in the prior year quarter. fiscal year-to-date cash flow from operations was $1.01 billion, or 13% of sales, compared with $1.35 billion in the prior year period. a reconciliation of non-gaap measures is included in the financial tables of this press release.
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