Parker reports fiscal 2023 second quarter results

Cleveland, feb. 02, 2023 (globe newswire) -- parker hannifin corporation (nyse: ph), the global leader in motion and control technologies, today reported results for the fiscal 2023 second quarter ended december 31, 2022. fiscal 2023 second quarter sales were a record at $4.67 billion, an increase of 22%, compared with $3.82 billion in the second quarter of fiscal 2022. net income was $395.2 million compared with $387.6 million in the prior year quarter. adjusted net income was $618.9 million, an increase of 6% compared with $582.2 million in the second quarter of fiscal 2022. earnings per share were $3.04 compared with $2.97 in the second quarter of fiscal 2022. adjusted earnings per share increased 7% to a record of $4.76 compared with $4.46 in the prior year quarter. fiscal 2023 year-to-date cash flow from operations was $1.08 billion, or 12.1% of sales, compared with $1.01 billion, or 13.3% of sales, in the prior year. a reconciliation of non-gaap measures is included in the financial tables of this press release and includes various expenses associated with the completion of the acquisition of meggitt plc and the related divestiture of the aircraft wheel and brake division during fiscal 2023.
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