ph-20250331

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2025


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File number 1-4982

PARKER-HANNIFIN CORPORATION

(Exact name of registrant as specified in its charter)


Ohio			34-0451060
(State or other jurisdiction of Incorporation or Organization)			(I.R.S. Employer Identification No.)

6035 Parkland Boulevard,	Cleveland,	Ohio	44124-4141
(Address of Principal Executive Offices)			(Zip Code)

Registrant’s telephone number, including area code: (216) 896-3000

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of Each Exchange on which Registered

Common Shares, $.50 par value

New York Stock Exchange

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act:

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

Number of Common Shares outstanding at March 31, 2025: 127,778,004

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

PARKER-HANNIFIN CORPORATION

CONSOLIDATED STATEMENT OF INCOME

(Dollars in thousands, except per share amounts)

(Unaudited)


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2025		2024		2025		2024
Net sales	$	4,960,349	$	5,074,356	$	14,606,926	$	14,742,791
Cost of sales	3,129,951		3,279,650		9,249,899		9,478,961
Selling, general and administrative expenses	784,355		816,337		2,415,565		2,496,830

Interest expense	95,942		123,732		309,835		387,229
Other income, net	(44,713)		(65,406)		(404,230)		(228,872)
Income before income taxes	994,814		920,043		3,035,857		2,608,643
Income taxes	33,628		193,309		427,494		548,780
Net income	961,186		726,734		2,608,363		2,059,863
Less: Noncontrolling interest in subsidiaries' earnings	320		160		535		611
Net income attributable to common shareholders	$	960,866	$	726,574	$	2,607,828	$	2,059,252

Earnings per share attributable to common shareholders:
Basic	$	7.48	$	5.65	$	20.28	$	16.03
Diluted	$	7.37	$	5.56	$	19.97	$	15.82

See accompanying notes to consolidated financial statements.

- 2 -

PARKER-HANNIFIN CORPORATION

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(Dollars in thousands)

(Unaudited)


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2025		2024		2025		2024
Net income	$	961,186	$	726,734	$	2,608,363	$	2,059,863
Less: Noncontrolling interests in subsidiaries' earnings	320		160		535		611
Net income attributable to common shareholders	960,866		726,574		2,607,828		2,059,252

Other comprehensive income (loss), net of tax
Foreign currency translation adjustment	167,432		(168,919)		62,826		(119,216)
Retirement benefits plan activity	3,336		1,369		10,197		4,098
Other comprehensive income (loss)	170,768		(167,550)		73,023		(115,118)
Less: Other comprehensive income (loss) for noncontrolling interests	23		(392)		(605)		384
Other comprehensive income (loss) attributable to common shareholders	170,745		(167,158)		73,628		(115,502)
Total comprehensive income attributable to common shareholders	$	1,131,611	$	559,416	$	2,681,456	$	1,943,750

See accompanying notes to consolidated financial statements.

- 3 -

PARKER-HANNIFIN CORPORATION

CONSOLIDATED BALANCE SHEET

(Dollars in thousands)

(Unaudited)



	March 31, 2025		June 30, 2024
ASSETS
Current assets:
Cash and cash equivalents	$	408,735	$	422,027
Trade accounts receivable, net	2,852,833		2,865,546
Non-trade and notes receivable	281,789		331,429
Inventories	2,822,547		2,786,800
Prepaid expenses	253,436		252,618
Other current assets	157,800		140,204
Total current assets	6,777,140		6,798,624
Property, plant and equipment	7,159,783		7,074,574
Less: Accumulated depreciation	4,338,217		4,198,906
Property, plant and equipment, net	2,821,566		2,875,668
Deferred income taxes	271,431		92,704
Investments and other assets	1,215,201		1,207,232
Intangible assets, net	7,370,524		7,816,181
Goodwill	10,461,946		10,507,433
Total assets	$	28,917,808	$	29,297,842
LIABILITIES
Current liabilities:
Notes payable and long-term debt payable within one year	$	1,951,543	$	3,403,065
Accounts payable, trade	1,980,967		1,991,639
Accrued payrolls and other compensation	473,725		581,251
Accrued domestic and foreign taxes	356,506		354,659
Other accrued liabilities	851,725		982,695
Total current liabilities	5,614,466		7,313,309
Long-term debt	7,421,370		7,157,034
Pensions and other postretirement benefits	389,891		437,490
Deferred income taxes	1,399,612		1,583,923
Other liabilities	692,644		725,193
Total liabilities	15,517,983		17,216,949
EQUITY
Shareholders’ equity:
Serial preferred stock, $.50 par value; authorized 3,000,000 shares; none issued	—		—
Common stock, $.50 par value; authorized 600,000,000 shares; issued 181,046,128 shares at March 31 and June 30	90,523

SEC Form 10-Q filed by Parker-Hannifin Corporation