Parker-Hannifin (PH) Q2 FY2026 earnings: revenue $5.2 billion, up 9.1% on the year

Parker-Hannifin Corp. (PH) reported revenue of $5.2 billion for Q2 FY2026, the quarter ended 31 December 2025, up 9.1% on the same quarter a year earlier. Net income was $845 million, down 10.9% on the year, and diluted earnings per share $6.60. The figures are the company's own, from the 10-Q it filed with the SEC on 30 January 2026.

Revenue

$5.2 billion

+9.1% on the year · +1.8% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

22.8%

20.9% a year earlier

Q3 FY2024Q2 FY2026

Net income

$845 million

-10.9% on the year · +4.6% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$6.60

-9.0% on the year · +4.9% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 4 raised, 1 kept.

Record sales with organic growth: Sales were $5,174 million against $4,743 million a year earlier. Organic sales grew 6.6%, and all reported businesses grew.
Adjusted EPS rose 17%: Diluted EPS was $6.60, down 9% from $7.25 in the prior-year quarter, which included a $1.70 gain. Adjusted EPS was $7.65.
Aerospace Systems sales up 14.5%: Aerospace Systems sales were $1,706 million, up 14.5%, with organic growth of 13.5%. Adjusted segment margin was 30.2%, up 200 bps.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	5,174	5,084	4,743	+1.8%	+9.1%
Cost of revenue	3,243	3,177	3,022	+2.1%	+7.3%
Gross profit	1,931	1,907	1,720	+1.3%	+12.2%
Gross margin	37.3%	37.5%	36.3%
Selling, general and administrative	837	873	782	-4.1%	+7.0%
Operating income	1,182	1,183	992	-0.1%	+19.1%
Operating margin	22.8%	23.3%	20.9%
Interest expense	106	101	101	+5.0%	+5.2%
Pre-tax income	1,064	1,040	1,166	+2.3%	-8.7%
Income tax	219	232	217	-5.6%	+0.8%
Effective tax rate	20.6%	22.3%	18.6%
Net income	845	808	949	+4.6%	-10.9%
Net margin	16.3%	15.9%	20.0%
Diluted EPS	$6.60	$6.29	$7.25	+4.9%	-9.0%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	862	782	935	+10.2%	-7.8%
Capital expenditure	94.0	89.0	121	+5.6%	-22.4%
Free cash flow	768	693	814	+10.8%	-5.6%
Free cash flow margin	14.8%	13.6%	17.2%
Cash from investing	-68.0	-1,078	499
Cash from financing	-835	306	-1,393
Depreciation and amortisation	233	232	226	+0.4%	+3.2%
Share-based compensation	28.0	80.0	30.6	-65.0%	-8.6%
Buybacks	145	522	98.5	-72.2%	+47.2%
Dividends paid	228	228	210	0.0%	+8.5%
Dividend per share	$1.80	$1.80	$1.63	0.0%	+10.4%
Diluted shares, weighted	128m	128m	131m	-0.2%	-2.0%
Shares outstanding at period end	126m	126m	129m	+0.0%	-2.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	14,311	13,777	13,119	+3.9%	+9.1%
Non-controlling interest	9.0	9.0	8.5	0.0%	+5.8%
Debt	9,870	10,333	9,041	-4.5%	+9.2%
Other liabilities	6,321	6,558	6,103	-3.6%	+3.6%
Total liabilities and equity	30,511	30,677	28,271	-0.5%	+7.9%
Fixed assets	2,966	2,972	2,801	-0.2%	+5.9%
Goodwill	11,149	11,141	10,357	+0.1%	+7.6%
Intangible assets	7,610	7,760	7,445	-1.9%	+2.2%
Cash and equivalents	427	473	396	-9.7%	+8.0%
Receivables	2,757	2,873	2,446	-4.0%	+12.7%
Inventory	3,152	3,081	2,807	+2.3%	+12.3%
Other assets	2,450	2,377	2,020	+3.1%	+21.3%
Total assets	30,511	30,677	28,271	-0.5%	+7.9%

Questions

What was Parker-Hannifin's revenue in Q2 FY2026?

Parker-Hannifin (PH) reported revenue of $5.2 billion for Q2 FY2026, the quarter ended 31 December 2025, up 9.1% on the same quarter a year earlier.

How much did Parker-Hannifin earn in Q2 FY2026?

Net income for Q2 FY2026 was $845 million, down 10.9% on the year, and diluted earnings per share $6.60.

When did Parker-Hannifin report Q2 FY2026 results?

Parker-Hannifin filed its 10-Q for the quarter ended 31 December 2025 with the SEC on 30 January 2026.

Quarterly results, the last 20 quarters

	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025	Q3 FY2025 †	Q4 FY2025 * †	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	3,825	4,086	4,188	4,233	4,675	5,062	5,096	4,847	4,821	5,074	5,187	4,904	4,743	4,960	5,243	5,084	5,174	5,486	5,755	5,992
Cost of revenue	2,568	2,709	2,981	2,795	3,237	3,341	3,263	3,097	3,102	3,280	3,323	3,098	3,022	3,130	3,285	3,177	3,243	3,469	3,508	3,731
Gross profit	1,257	1,377	1,207	1,437	1,438	1,721	1,833	1,750	1,719	1,795	1,864	1,806	1,720	1,830	1,958	1,907	1,931	2,017	2,247	2,261
Gross margin	33%	34%	29%	34%	31%	34%	36%	36%	36%	35%	36%	37%	36%	37%	37%	38%	37%	37%	39%	38%
SG&A	586	640	426	836	815	868	835	874	807	816	818	849	782	784	839	873	837	884	874	1,065
Operating income	701	774	806	787	665	907	1,044	977	966	1,033	1,093	1,058	992	1,108	1,188	1,183	1,182	1,229	1,474	1,411
Operating margin	18%	19%	19%	19%	14%	18%	20%	20%	20%	20%	21%	22%	21%	22%	23%	23%	23%	22%	26%	24%
Interest expense	61.4	63.3	71.3	118	147	152	157	134	129	124	119	113	101	95.9	99.2	101	106	99.0	95.0	146
Pre-tax income	490	434	118	503	517	756	903	820	868	920	986	875	1,166	995	1,071	1,040	1,064	1,119	1,340	1,137
Tax rate	21%	20%	-9%	23%	23%	22%	21%	21%	21%	21%	20%	20%	19%	3%	14%	22%	21%	19%	19%	22%
Net income	388	348	129	388	395	591	709	651	682	727	785	698	949	961	923	808	845	904	1,091	884
Net margin	10%	9%	3%	9%	8%	12%	14%	13%	14%	14%	15%	14%	20%	19%	18%	16%	16%	16%	19%	15%
Diluted EPS	$2.97	$2.67	$1.00	$2.98	$3.04	$4.54	$5.44	$4.99	$5.23	$5.56	$6.01	$5.34	$7.25	$7.37	$7.15	$6.29	$6.60	$7.06	$8.54	$6.92
Operating cash flow	581	543	893	457	619	719	1,185	650	702	795	1,237	744	935	630	1,467	782	862	984	1,736	752
Capital expenditure	57.4	53.3	71.2	83.6	102	86.9	108	97.7	106	79.2	117	95.0	121	87.7	131	89.0	94.0	103	173	109
Free cash flow	524	490	822	374	517	632	1,077	552	596	716	1,120	649	814	542	1,336	693	768	881	1,563	643
Buybacks	73.9	55.3	85.1	67.2	53.8	81.7	94.6	79.3	59.0	103	91.2	94.0	98.5	668	906	522	145	340	255	118
Dividends paid	133	133	172	171	171	171	191	190	191	190	210	210	210	210	231	228	228	227	253	252
Shares outstanding	128m	128m	128m	128m	128m	128m	128m	128m	128m	129m	129m	129m	129m	128m	127m	126m	126m	126m	126m	126m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 December 2025, filed 30 January 2026: the filing.