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EX - 99.1 2 exhibit9912qfy21.htm EX - 99.1 Parker For Release : Immediately Contact : Exhibit 99.1 Media - Aidan Gormley - Director , Global Communications and Branding 216-896-3258 aidan.gormley@parker.com Financial Analysts - Robin J. Davenport , Vice President , Corporate Finance rjdavenport@parker.com Stock Symbol : PH - NYSE 216-896-2265 Parker Reports Fiscal 2021 Second Quarter Results - Second quarter record net income of $ 447.3 million , EPS at $ 3.41 as reported , or $ 3.44 adjusted - Second quarter record total segment operating margin of 17.4 % as reported , or 20.4 % adjusted - Second quarter EBITDA margin was 23.1 % as reported , or 20.8 % adjusted - Cash flow from operations was a Q2 YTD record at $ 1.35 billion , or 20.4 % of sales - Cumulative debt reduction reaches approximately $ 2.8 billion in the last 14 months - Company increases fiscal 2021 EPS guidance midpoint to $ 12.15 as reported , or $ 13.90 adjusted CLEVELAND , February 4 , 2021 -- Parker Hannifin Corporation ( NYSE : PH ) , the global leader in motion and control technologies , today reported results for the fiscal 2021 second quarter ended December 31 , 2020. Fiscal 2021 second quarter sales were $ 3.41 billion , compared with $ 3.50 billion in the prior year quarter . Net income was a record $ 447.3 million , which includes a gain of approximately $ 76.4 million from the sale of land , compared with $ 204.5 million in the second quarter of fiscal 2020. Fiscal 2021 second quarter earnings per share were $ 3.41 , compared with $ 1.57 in the prior year quarter . Adjusted earnings per share increased 15 % to $ 3.44 , compared with adjusted earnings per share of $ 2.98 in the second quarter of fiscal 2020. Fiscal year - to - date cash flow from operations was a second quarter record at $ 1.35 billion and reached 20.4 % of sales , compared with $ 826.0 million or 12.1 % of sales in the prior year period . A reconciliation of non - GAAP measures is included in the financial tables of this press release . " Parker team members continue to deliver outstanding results including many records in a challenging environment , " said Chairman and Chief Executive Officer , Tom Williams . " Our current results reflect the combined effect of significant operating performance improvement via The Win Strategy ™ and strategic acquisitions that have strengthened our portfolio . We achieved second quarter records in total segment operating margin , earnings and year - to - date operating cash flow . We also delivered better than expected organic sales reflecting a more resilient business portfolio and strong performance in our Diversified Industrial segment . This was also the first quarter since September 2018 that industrial order rates were positive . Second quarter adjusted segment operating margin increased 250 basis