CLEVELAND, May 01, 2025 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today reported results for the quarter ended March 31, 2025, that included the following highlights (compared with the prior year quarter):

Fiscal 2025 Third Quarter Highlights:

  • Sales were $5.0 billion; organic sales growth was 1%
  • Net income was $961 million, an increase of 32%, or $904 million adjusted, an increase of 6%
  • EPS were $7.37, an increase of 33%, or $6.94 adjusted, an increase of 7%
  • Segment operating margin was 23.2%, an increase of 170 bps, or 26.3% adjusted, an increase of 160 bps
  • YTD cash flow from operations increased 8% to $2.3 billion, or 15.8% of sales
  • Repurchased $650 million of shares in the quarter

“Our third quarter performance demonstrates the strength of our business and our global team’s ability to continue to deliver record results,” said Jenny Parmentier, Chairman and Chief Executive Officer. “All reported businesses showed substantial margin expansion and helped us surpass 26% adjusted segment operating margin for the first time. We also produced record earnings per share, generated record cash flow from operations, and repurchased $650 million of shares. We recently announced a 10% increase in our quarterly cash dividend and are committed to our strategy of actively deploying capital to drive shareholder value, including acquisitions and increased share repurchase activity, depending on market conditions."

"The resiliency of our portfolio coupled with the power of our business system, The Win Strategy™, has enabled us to consistently deliver strong results through business cycles. With our decentralized structure and the agility of our global teams, we are confident in our ability to manage through macroeconomic uncertainty, including tariffs. We are fully committed to achieving our fiscal year 2029 financial targets.”

This news release contains non-GAAP financial measures. Reconciliations of adjusted numbers and certain non-GAAP financial measures are included in the financial tables of this press release.

Outlook

Guidance for the fiscal year ending June 30, 2025 has been updated. The company expects:

  • Sales growth in fiscal 2025 of approximately (1%), with organic sales growth of approximately 1%; divestitures of (1.5%) and unfavorable currency of (0.5%)
  • Total segment operating margin of approximately 22.7%, or approximately 25.9% on an adjusted basis
  • EPS of $25.92 to $26.12, or $26.60 to $26.80 on an adjusted basis, and includes the effect of announced tariffs fully offset by mitigation actions

Segment Results

Diversified Industrial Segment
North America Businesses
$ in mm FY25 Q3 FY24 Q3 Change Organic Growth
Sales $ 2,031 $ 2,231 -9.0 % -3.5 %
Segment Operating Income $ 467 $ 490 -4.8 %
Segment Operating Margin 23.0 % 22.0 % 100 bps
Adjusted Segment Operating Income $ 513 $ 538 -4.8 %
Adjusted Segment Operating Margin 25.2 % 24.1 % 110 bps
  • Achieved record adjusted segment operating margin
  • Softness in transportation, off-highway and energy markets
  • Orders positive for second consecutive quarter
International Businesses
$ in mm FY25 Q3 FY24 Q3 Change Organic Growth
Sales $ 1,358 $ 1,434 -5.3 % -2.8 %
Segment Operating Income $ 312 $ 310 0.7 %
Segment Operating Margin 23.0 % 21.6 % 140 bps
Adjusted Segment Operating Income $ 340 $ 337 1.2 %
Adjusted Segment Operating Margin 25.1 % 23.5 % 160 bps
  • Achieved record adjusted segment operating margin
  • Organic growth: 2% APAC; (7%) EMEA; 8% LA
  • Orders accelerate on long-cycle strength
Aerospace Systems Segment
$ in mm FY25 Q3 FY24 Q3 Change Organic Growth
Sales $ 1,572 $ 1,409 11.6 % 11.7 %
Segment Operating Income $ 373 $ 289 28.9 %
Segment Operating Margin 23.7 % 20.5 % 320 bps
Adjusted Segment Operating Income $ 451 $ 376 19.8 %
Adjusted Segment Operating Margin 28.7 % 26.7 % 200 bps
  • Achieved record sales on continued aftermarket strength
  • Delivered record adjusted segment operating margin
  • Aerospace backlog increased to a record $7.3 billion
Order Rates
FY25 Q3
Parker +9 %
Diversified Industrial Segment - North America Businesses +3 %
Diversified Industrial Segment - International Businesses +11 %
Aerospace Systems Segment +14 %
  • Parker order rates increased to 9% reflecting our transformed portfolio and long-cycle strength
  • Aerospace orders increased to 14% driven by strength in both commercial and defense
  • Orders remained positive across all reported businesses

About Parker Hannifin
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Learn more at www.parker.com or @parkerhannifin.

Contacts:
Media: Financial Analysts:
Aidan Gormley Jeff Miller
216-896-3258 216-896-2708
[email protected] [email protected]

Notice of Webcast
Parker Hannifin's conference call and slide presentation to discuss its fiscal 2025 third quarter results are available to all interested parties via live webcast today at 11:00 a.m. ET, at investors.parker.com. A replay of the webcast will be available on the site approximately one hour after the completion of the call and will remain available for one year. To register for e-mail notification of future events please visit investors.parker.com.

Note on Orders The company reported orders for the quarter ending March 31, 2025, compared with the same quarter a year ago. All comparisons are at constant currency exchange rates, with the prior year quarter restated to the current-year rates, and exclude divestitures. Diversified Industrial comparisons are on 3-month average computations and Aerospace Systems comparisons are on rolling 12-month average computations.

Note on Non-GAAP Financial Measures
This press release contains references to non-GAAP financial information including (a) adjusted net income; (b) adjusted earnings per share; (c) adjusted segment operating margin for Parker and by segment; (d) adjusted segment operating income for Parker and by segment and (e) organic sales growth. The adjusted net income, adjusted earnings per share, adjusted segment operating margin, adjusted segment operating income and organic sales measures are presented to allow investors and the company to meaningfully evaluate changes in net income, earnings per share and segment operating margins on a comparable basis from period to period. Although adjusted net income, adjusted earnings per share, adjusted segment operating margin, adjusted segment operating income, and organic sales growth are not measures of performance calculated in accordance with GAAP, we believe that they are useful to an investor in evaluating the results of this quarter versus the prior period. Comparable descriptions of record adjusted results in this release refer only to the period from the first quarter of FY2011 to the periods presented in this release. This period coincides with recast historical financial results provided in association with our FY2014 change in segment reporting. A reconciliation of non-GAAP measures is included in the financial tables of this press release.

Forward-Looking Statements
Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. Often but not always, these statements may be identified from the use of forward-looking terminology such as “anticipates,” “believes,” “may,” “should,” “could,” “expects,” “targets,” “is likely,” “will,” or the negative of these terms and similar expressions, and may also include statements regarding future performance, orders, earnings projections, events or developments. Parker cautions readers not to place undue reliance on these statements. It is possible that the future performance may differ materially from expectations, including those based on past performance.

Among other factors that may affect future performance are: changes in business relationships with and orders by or from major customers, suppliers or distributors, including delays or cancellations in shipments; disputes regarding contract terms, changes in contract costs and revenue estimates for new development programs; changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions; ability to successfully divest businesses planned for divestiture and realize the anticipated benefits of such divestitures; the determination and ability to successfully undertake business realignment activities and the expected costs, including cost savings, thereof; ability to implement successfully business and operating initiatives, including the timing, price and execution of share repurchases and other capital initiatives; availability, cost increases of or other limitations on our access to raw materials, component products and/or commodities if associated costs cannot be recovered in product pricing; ability to manage costs related to insurance and employee retirement and health care benefits; legal and regulatory developments and other government actions, including related to environmental protection, and associated compliance costs; supply chain and labor disruptions, including as a result of tariffs and labor shortages; threats associated with international conflicts and cybersecurity risks and risks associated with protecting our intellectual property; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; effects on market conditions, including sales and pricing, resulting from global reactions to U.S. trade policies; manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and economic conditions such as inflation, deflation, interest rates and credit availability; inability to obtain, or meet conditions imposed for, required governmental and regulatory approvals; changes in the tax laws in the United States and foreign jurisdictions and judicial or regulatory interpretations thereof; and large scale disasters, such as floods, earthquakes, hurricanes, industrial accidents and pandemics. Readers should also consider forward-looking statements in light of risk factors discussed in Parker’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 and other periodic filings made with the SEC.

CONSOLIDATED STATEMENT OF INCOME
Three Months Ended Nine Months Ended
(Unaudited) March 31, March 31,
(Dollars in thousands, except per share amounts) 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 interests 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 earnings per share $ 7.48 $ 5.65 $ 20.28 $ 16.03
Diluted earnings per share $ 7.37 $ 5.56 $ 19.97 $ 15.82
Average shares outstanding during period - Basic 128,442,623 128,502,829 128,619,515 128,467,209
Average shares outstanding during period - Diluted 130,320,802 130,593,026 130,576,225 130,169,331
CASH DIVIDENDS PER COMMON SHARE
Three Months Ended Nine Months Ended
(Unaudited) March 31, March 31,
(Amounts in dollars) 2025 2024 2025 2024
Cash dividends per common share $ 1.63 $ 1.48 $ 4.89 $ 4.44


RECONCILIATION OF ORGANIC GROWTH
(Unaudited) Three Months Ended
As Reported Adjusted
March 31, 2025 Currency Divestitures March 31, 2025
Diversified Industrial Segment (7.6 ) % (1.5 ) % (2.9 ) % (3.2 ) %
Aerospace Systems Segment 11.6 % (0.1 ) % — % 11.7 %
Total (2.2 ) % (1.0 ) % (2.1 ) % 0.9 %
(Unaudited) Nine Months Ended
As Reported Adjusted
March 31, 2025 Currency Divestitures March 31, 2025
Diversified Industrial Segment (6.5 ) % (1.0 ) % (1.7 ) % (3.8 ) %
Aerospace Systems Segment 14.3 % 0.1 % — % 14.2 %
Total (0.9 ) % (0.7 ) % (1.2 ) % 1.0 %


RECONCILIATION OF NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS TO ADJUSTED NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS
Three Months Ended Nine Months Ended
(Unaudited) March 31, March 31,
(Dollars in thousands) 2025 2024 2025 2024
Net income attributable to common shareholders $ 960,866 $ 726,574 $ 2,607,828 $ 2,059,252
Adjustments:
Acquired intangible asset amortization expense 135,964 141,216 414,211 438,763
Business realignment charges 10,379 8,468 40,740 35,914
Integration costs to achieve 5,447 13,256 18,751 29,676
Gain on sale of building — — (10,461 ) —
Gain on divestitures — — (249,748 ) (25,651 )
Saegertown incident 7,725 — 7,725 —
Tax effect of adjustments 1 (36,689 ) (38,779 ) (82,337 ) (108,403 )
Discrete tax benefit 2 (179,849 ) — (179,849 ) —
Adjusted net income attributable to common shareholders $ 903,843 $ 850,735 $ 2,566,860 $ 2,429,551


RECONCILIATION OF EARNINGS PER DILUTED SHARE TO ADJUSTED EARNINGS PER DILUTED SHARE
Three Months Ended Nine Months Ended
(Unaudited) March 31, March 31,
(Amounts in dollars) 2025 2024 2025 2024
Earnings per diluted share $ 7.37 $ 5.56 $ 19.97 $ 15.82
Adjustments:
Acquired intangible asset amortization expense 1.04 1.08 3.17 3.36
Business realignment charges 0.08 0.06 0.31 0.27
Integration costs to achieve 0.04 0.10 0.14 0.23
Gain on sale of building — — (0.08 ) —
Gain on divestitures — — (1.91 ) (0.20 )
Saegertown incident 0.06 — 0.06 —
Tax effect of adjustments 1 (0.28 ) (0.29 ) (0.61 ) (0.82 )
Discrete tax benefit 2 (1.37 ) — (1.37 ) —
Adjusted earnings per diluted share $ 6.94 $ 6.51 $ 19.68 $ 18.66
1 This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. We estimate the tax effect of each adjustment item by applying our overall effective tax rate for continuing operations to the pre-tax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment.
2 Release of a tax valuation allowance.


BUSINESS SEGMENT INFORMATION
Three Months Ended Nine Months Ended
(Unaudited) March 31, March 31,
(Dollars in thousands) 2025 2024 2025 2024
Net sales
Diversified Industrial $ 3,388,759 $ 3,665,643 $ 10,097,723 $ 10,798,644
Aerospace Systems 1,571,590 1,408,713 4,509,203 3,944,147
Total net sales $ 4,960,349 $ 5,074,356 $ 14,606,926 $ 14,742,791
Segment operating income
Diversified Industrial $ 779,103 $ 800,211 $ 2,273,211 $ 2,359,299
Aerospace Systems 372,908 289,339 1,034,078 778,711
Total segment operating income 1,152,011 1,089,550 3,307,289 3,138,010
Corporate general and administrative expenses 43,698 56,782 148,756 162,340
Income before interest expense and other expense (income), net 1,108,313 1,032,768 3,158,533 2,975,670
Interest expense 95,942 123,732 309,835 387,229
Other expense (income), net 17,557 (11,007 ) (187,159 ) (20,202 )
Income before income taxes $ 994,814 $ 920,043 $ 3,035,857 $ 2,608,643


RECONCILIATION OF SEGMENT OPERATING MARGINS TO ADJUSTED SEGMENT OPERATING MARGINS
Three Months Ended Nine Months Ended
(Unaudited) March 31, March 31,
(Dollars in thousands) 2025 2024 2025 2024
Diversified Industrial Segment sales $ 3,388,759 $ 3,665,643 $ 10,097,723 $ 10,798,644
Diversified Industrial Segment operating income $ 779,103 $ 800,211 $ 2,273,211 $ 2,359,299
Adjustments:
Acquired intangible asset amortization 61,600 66,409 189,434 201,669
Business realignment charges 10,249 6,953 38,492 32,877
Integration costs to achieve 2,072 1,292 3,477 3,302
Adjusted Diversified Industrial Segment operating income $ 853,024 $ 874,865 $ 2,504,614 $ 2,597,147
Diversified Industrial Segment operating margin 23.0 % 21.8 % 22.5 % 21.8 %
Adjusted Diversified Industrial Segment operating margin 25.2 % 23.9 % 24.8 % 24.1 %
Three Months Ended Nine Months Ended
(Unaudited) March 31, March 31,
(Dollars in thousands) 2025 2024 2025 2024
Aerospace Systems Segment sales $ 1,571,590 $ 1,408,713 $ 4,509,203 $ 3,944,147
Aerospace Systems Segment operating income $ 372,908 $ 289,339 $ 1,034,078 $ 778,711
Adjustments:
Acquired intangible asset amortization 74,364 74,807 224,777 237,094
Business realignment charges 35 (12 ) 429 318
Integration costs to achieve 3,375 11,964 15,274 26,374
Adjusted Aerospace Systems Segment operating income $ 450,682 $ 376,098 $ 1,274,558 $ 1,042,497
Aerospace Systems Segment operating margin 23.7 % 20.5 % 22.9 % 19.7 %
Adjusted Aerospace Systems Segment operating margin 28.7 % 26.7 % 28.3 % 26.4 %
Three Months Ended Nine Months Ended
(Unaudited) March 31, March 31,
(Dollars in thousands) 2025 2024 2025 2024
Total net sales $ 4,960,349 $ 5,074,356 $ 14,606,926 $ 14,742,791
Total segment operating income $ 1,152,011 $ 1,089,550 $ 3,307,289 $ 3,138,010
Adjustments:
Acquired intangible asset amortization 135,964 141,216 414,211 438,763
Business realignment charges 10,284 6,941 38,921 33,195
Integration costs to achieve 5,447 13,256 18,751 29,676
Adjusted total segment operating income $ 1,303,706 $ 1,250,963 $ 3,779,172 $ 3,639,644
Total segment operating margin 23.2 % 21.5 % 22.6 % 21.3 %
Adjusted total segment operating margin 26.3 % 24.7 % 25.9 % 24.7 %


CONSOLIDATED BALANCE SHEET
(Unaudited) March 31, June 30,
(Dollars in thousands) 2025 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, 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 and equity
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
Shareholders' equity 13,390,974 12,071,972
Noncontrolling interests 8,851 8,921
Total liabilities and equity $ 28,917,808 $ 29,297,842


CONSOLIDATED STATEMENT OF CASH FLOWS
Nine Months Ended
(Unaudited) March 31,
(Dollars in thousands) 2025 2024
Cash flows from operating activities:
Net income $ 2,608,363 $ 2,059,863
Depreciation and amortization 677,665 696,463
Stock incentive plan compensation 129,766 128,682
Gain on sale of businesses (253,043 ) (23,667 )
(Gain) loss on property, plant and equipment and intangible assets (8,531 ) 5,847
Net change in receivables, inventories and trade payables (101,351 ) (244,268 )
Net change in other assets and liabilities (514,937 ) (427,509 )
Other, net (229,171 ) (48,334 )
Net cash provided by operating activities 2,308,761 2,147,077
Cash flows from investing activities:
Capital expenditures (304,153 ) (283,328 )
Proceeds from property, plant and equipment 31,871 8,905
Proceeds from sale of businesses 622,697 75,561
Other, net (5,745 ) 4,561
Net cash provided by (used in) investing activities 344,670 (194,301 )
Cash flows from financing activities:
Net payments for common stock activity (856,925 ) (237,689 )
Acquisition of noncontrolling interests — (2,883 )
Net payments for debt (1,193,952 ) (1,193,373 )
Dividends paid (630,168 ) (571,583 )
Net cash used in financing activities (2,681,045 ) (2,005,528 )
Effect of exchange rate changes on cash 14,322 (16,946 )
Net decrease in cash and cash equivalents (13,292 ) (69,698 )
Cash and cash equivalents at beginning of year 422,027 475,182
Cash and cash equivalents at end of period $ 408,735 $ 405,484


RECONCILIATION OF FORECASTED ORGANIC GROWTH
(Unaudited)
(Amounts in percentages) Fiscal Year 2025
Forecasted net sales ~ (1%)
Adjustments:
Currency 0.5 %
Divestitures 1.5 %
Adjusted forecasted net sales ~ 1%
RECONCILIATION OF FORECASTED SEGMENT OPERATING MARGIN TO ADJUSTED FORECASTED SEGMENT OPERATING MARGIN
(Unaudited)
(Amounts in percentages) Fiscal Year 2025
Forecasted segment operating margin ~ 22.7%
Adjustments:
Business realignment charges 0.3 %
Costs to achieve 0.1 %
Acquisition-related intangible asset amortization expense 2.8 %
Adjusted forecasted segment operating margin ~ 25.9%


RECONCILIATION OF FORECASTED EARNINGS PER DILUTED SHARE TO ADJUSTED FORECASTED EARNINGS PER DILUTED SHARE
(Unaudited)
(Amounts in dollars) Fiscal Year 2025
Forecasted earnings per diluted share $25.92 to $26.12
Adjustments:
Business realignment charges 0.47
Costs to achieve 0.17
Acquisition-related intangible asset amortization expense 4.22
Net gain on divestitures (1.91)
Gain on sale of building (0.08)
Saegertown incident 0.06
Tax effect of adjustments 1 (0.88)
Discrete tax benefit 2 (1.37)
Adjusted forecasted earnings per diluted share $26.60 to $26.80
1 This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. We estimate the tax effect of each adjustment item by applying our overall effective tax rate for continuing operations to the pre-tax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment.
2 Release of a tax valuation allowance.
Note: Totals may not foot due to rounding


SUPPLEMENTAL INFORMATION
BUSINESS SEGMENT INFORMATION
Three Months Ended Nine Months Ended
(Unaudited) March 31, March 31,
(Dollars in thousands) 2025 2024 2025 2024
Net sales
Diversified Industrial:
North America businesses $ 2,030,970 $ 2,231,478 $ 6,059,302 $ 6,571,587
International businesses 1,357,789 1,434,165 4,038,421 4,227,057
Segment operating income
Diversified Industrial:
North America businesses $ 467,064 $ 490,452 $ 1,378,194 $ 1,458,355
International businesses 312,039 309,759 895,017 900,944


RECONCILIATION OF ORGANIC GROWTH
(Unaudited) Three Months Ended
As Reported Adjusted
March 31, 2025 Currency Divestitures March 31, 2025
Diversified Industrial Segment:
North America businesses (9.0 ) % (0.8 ) % (4.7 ) % (3.5 ) %
International businesses:
Europe (8.6 ) % (1.7 ) % — % (6.9 ) %
Asia Pacific (0.8 ) % (3.0 ) % — % 2.2 %
Latin America (0.2 ) % (8.1 ) % — % 7.9 %
International businesses (5.3 ) % (2.5 ) % — % (2.8 ) %
(Unaudited) Nine Months Ended
As Reported Adjusted
March 31, 2025 Currency Divestitures March 31, 2025
Diversified Industrial Segment:
North America businesses (7.8 ) % (0.6 ) % (2.7 ) % (4.5 ) %
International businesses:
Europe (8.1 ) % (0.4 ) % — % (7.7 ) %
Asia Pacific 0.8 % (1.9 ) % — % 2.7 %
Latin America (3.3 ) % (13.9 ) % — % 10.6 %
International businesses (4.5 ) % (1.8 ) % — % (2.7 ) %


RECONCILIATION OF SEGMENT OPERATING MARGINS TO ADJUSTED SEGMENT OPERATING MARGINS
Three Months Ended Nine Months Ended
(Unaudited) March 31, March 31,
(Dollars in thousands) 2025 2024 2025 2024
Diversified Industrial Segment:
North America businesses sales $ 2,030,970 $ 2,231,478 $ 6,059,302 $ 6,571,587
North America businesses operating income $ 467,064 $ 490,452 $ 1,378,194 $ 1,458,355
Adjustments:
Acquired intangible asset amortization 40,209 43,945 124,169 133,327
Business realignment charges 4,218 3,058 13,106 8,892
Integration costs to achieve 1,038 841 2,088 2,348
Adjusted North America businesses operating income $ 512,529 $ 538,296 $ 1,517,557 $ 1,602,922
North America businesses operating margin 23.0 % 22.0 % 22.7 % 22.2 %
Adjusted North America businesses operating margin 25.2 % 24.1 % 25.0 % 24.4 %
Three Months Ended Nine Months Ended
(Unaudited) March 31, March 31,
(Dollars in thousands) 2025 2024 2025 2024
Diversified Industrial Segment:
International businesses sales $ 1,357,789 $ 1,434,165 $ 4,038,421 $ 4,227,057
International businesses operating income $ 312,039 $ 309,759 $ 895,017 $ 900,944
Adjustments:
Acquired intangible asset amortization 21,391 22,464 65,265 68,342
Business realignment charges 6,031 3,895 25,386 23,985
Integration costs to achieve 1,034 451 1,389 954
Adjusted International businesses operating income $ 340,495 $ 336,569 $ 987,057 $ 994,225
International businesses operating margin 23.0 % 21.6 % 22.2 % 21.3 %
Adjusted International businesses operating margin 25.1 % 23.5 % 24.4 % 23.5 %