Exhibit 99.1
blk_parkerlogo20150x50a.jpg

Parker Reports Fiscal 2025 Third Quarter Results

Record margins, EPS and YTD cash flow from operations

CLEVELAND, May 1, 2025 -- 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 mmFY25 Q3FY24 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 Q3FY24 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 Q3FY24 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
aidan.gormley@parker.com
jeffrey.miller@parker.com

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.


###

Exhibit 99.1
PARKER HANNIFIN CORPORATION - MARCH 31, 2025
CONSOLIDATED STATEMENT OF INCOME
Three Months EndedNine Months Ended
(Unaudited)March 31,March 31,
(Dollars in thousands, except per share amounts)2025202420252024
Net sales$4,960,349 $5,074,356 $14,606,926 $14,742,791 
Cost of sales3,129,951 3,279,650 9,249,899 9,478,961 
Selling, general and administrative expenses784,355 816,337 2,415,565 2,496,830 
Interest expense95,942 123,732 309,835 387,229 
Other income, net(44,713)(65,406)(404,230)(228,872)
Income before income taxes994,814 920,043 3,035,857 2,608,643 
Income taxes33,628 193,309 427,494 548,780 
Net income961,186 726,734 2,608,363 2,059,863 
Less: Noncontrolling interests320 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 - Basic128,442,623128,502,829128,619,515128,467,209
Average shares outstanding during period - Diluted130,320,802130,593,026130,576,225130,169,331
CASH DIVIDENDS PER COMMON SHARE
Three Months EndedNine Months Ended
(Unaudited)March 31,March 31,
(Amounts in dollars)2025202420252024
Cash dividends per common share$1.63 $1.48 $4.89 $4.44 
RECONCILIATION OF ORGANIC GROWTH
(Unaudited)Three Months Ended
As ReportedAdjusted
March 31, 2025CurrencyDivestituresMarch 31, 2025
Diversified Industrial Segment(7.6)%(1.5)%(2.9)%(3.2)%
Aerospace Systems Segment11.6 %(0.1)%— %11.7 %
Total(2.2)%(1.0)%(2.1)%0.9 %
(Unaudited)Nine Months Ended
As ReportedAdjusted
March 31, 2025CurrencyDivestituresMarch 31, 2025
Diversified Industrial Segment(6.5)%(1.0)%(1.7)%(3.8)%
Aerospace Systems Segment14.3 %0.1 %— %14.2 %
Total(0.9)%(0.7)%(1.2)%1.0 %


Exhibit 99.1
PARKER HANNIFIN CORPORATION - MARCH 31, 2025
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS TO ADJUSTED NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS
Three Months EndedNine Months Ended
(Unaudited)March 31,March 31,
(Dollars in thousands)2025202420252024
Net income attributable to common shareholders$960,866 $726,574 $2,607,828 $2,059,252 
Adjustments:
Acquired intangible asset amortization expense135,964 141,216 414,211 438,763 
Business realignment charges10,379 8,468 40,740 35,914 
Integration costs to achieve5,447 13,256 18,751 29,676 
Gain on sale of building— — (10,461)— 
Gain on divestitures— — (249,748)(25,651)
Saegertown incident7,725 — 7,725 — 
Tax effect of adjustments1
(36,689)(38,779)(82,337)(108,403)
Discrete tax benefit2
(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 EndedNine Months Ended
(Unaudited)March 31,March 31,
(Amounts in dollars)2025202420252024
Earnings per diluted share$7.37 $5.56 $19.97 $15.82 
Adjustments:
Acquired intangible asset amortization expense1.04 1.08 3.17 3.36 
Business realignment charges0.08 0.06 0.31 0.27 
Integration costs to achieve0.04 0.10 0.14 0.23 
Gain on sale of building— — (0.08)— 
Gain on divestitures— — (1.91)(0.20)
Saegertown incident0.06 — 0.06 — 
Tax effect of adjustments1
(0.28)(0.29)(0.61)(0.82)
Discrete tax benefit2
(1.37)— (1.37)— 
Adjusted earnings per diluted share$6.94 $6.51 $19.68 $18.66 
1This 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.
2Release of a tax valuation allowance.


Exhibit 99.1
PARKER HANNIFIN CORPORATION - MARCH 31, 2025
BUSINESS SEGMENT INFORMATION
Three Months EndedNine Months Ended
(Unaudited)March 31,March 31,
(Dollars in thousands)2025202420252024
Net sales
Diversified Industrial$3,388,759 $3,665,643 $10,097,723 $10,798,644 
Aerospace Systems1,571,590 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 Systems372,908 289,339 1,034,078 778,711 
Total segment operating income1,152,011 1,089,550 3,307,289 3,138,010 
Corporate general and administrative expenses43,698 56,782 148,756 162,340 
Income before interest expense and other expense (income), net1,108,313 1,032,768 3,158,533 2,975,670 
Interest expense95,942 123,732 309,835 387,229 
Other expense (income), net17,557 (11,007)(187,159)(20,202)
Income before income taxes$994,814 $920,043 $3,035,857 $2,608,643 


Exhibit 99.1
PARKER HANNIFIN CORPORATION - MARCH 31, 2025
RECONCILIATION OF SEGMENT OPERATING MARGINS TO ADJUSTED SEGMENT OPERATING MARGINS
Three Months EndedNine Months Ended
(Unaudited)March 31,March 31,
(Dollars in thousands)2025202420252024
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 amortization61,600 66,409 189,434 201,669 
Business realignment charges10,249 6,953 38,492 32,877 
Integration costs to achieve2,072 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 margin23.0 %21.8 %22.5 %21.8 %
Adjusted Diversified Industrial Segment operating margin25.2 %23.9 %24.8 %24.1 %
Three Months EndedNine Months Ended
(Unaudited)March 31,March 31,
(Dollars in thousands)2025202420252024
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 amortization74,364 74,807 224,777 237,094 
Business realignment charges35 (12)429 318 
Integration costs to achieve3,375 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 margin23.7 %20.5 %22.9 %19.7 %
Adjusted Aerospace Systems Segment operating margin28.7 %26.7 %28.3 %26.4 %
Three Months EndedNine Months Ended
(Unaudited)March 31,March 31,
(Dollars in thousands)2025202420252024
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 amortization135,964 141,216 414,211 438,763 
Business realignment charges10,284 6,941 38,921 33,195 
Integration costs to achieve5,447 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 margin23.2 %21.5 %22.6 %21.3 %
Adjusted total segment operating margin26.3 %24.7 %25.9 %24.7 %



Exhibit 99.1
PARKER HANNIFIN CORPORATION - MARCH 31, 2025

CONSOLIDATED BALANCE SHEET
(Unaudited)March 31,June 30,
(Dollars in thousands)20252024
Assets
Current assets:
Cash and cash equivalents$408,735 $422,027 
Trade accounts receivable, net2,852,833 2,865,546 
Non-trade and notes receivable281,789 331,429 
Inventories2,822,547 2,786,800 
Prepaid expenses 253,436 252,618 
Other current assets157,800 140,204 
Total current assets6,777,140 6,798,624 
Property, plant and equipment, net2,821,566 2,875,668 
Deferred income taxes271,431 92,704 
Investments and other assets1,215,201 1,207,232 
Intangible assets, net7,370,524 7,816,181 
Goodwill10,461,946 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, trade1,980,967 1,991,639 
Accrued payrolls and other compensation473,725 581,251 
Accrued domestic and foreign taxes356,506 354,659 
Other accrued liabilities851,725 982,695 
Total current liabilities5,614,466 7,313,309 
Long-term debt7,421,370 7,157,034 
Pensions and other postretirement benefits389,891 437,490 
Deferred income taxes1,399,612 1,583,923 
Other liabilities692,644 725,193 
Shareholders' equity13,390,974 12,071,972 
Noncontrolling interests8,851 8,921 
Total liabilities and equity$28,917,808 $29,297,842 

Exhibit 99.1
PARKER HANNIFIN CORPORATION - MARCH 31, 2025
CONSOLIDATED STATEMENT OF CASH FLOWS
Nine Months Ended
(Unaudited)March 31,
(Dollars in thousands)20252024
Cash flows from operating activities:
Net income$2,608,363 $2,059,863 
Depreciation and amortization677,665 696,463 
Stock incentive plan compensation129,766 128,682 
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 activities2,308,761 2,147,077 
Cash flows from investing activities:
Capital expenditures(304,153)(283,328)
Proceeds from property, plant and equipment31,871 8,905 
Proceeds from sale of businesses622,697 75,561 
Other, net(5,745)4,561 
Net cash provided by (used in) investing activities344,670 (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 cash14,322 (16,946)
Net decrease in cash and cash equivalents(13,292)(69,698)
Cash and cash equivalents at beginning of year422,027 475,182 
Cash and cash equivalents at end of period$408,735 $405,484 




Exhibit 99.1
PARKER HANNIFIN CORPORATION - MARCH 31, 2025
RECONCILIATION OF FORECASTED ORGANIC GROWTH
(Unaudited)
(Amounts in percentages)Fiscal Year 2025
Forecasted net sales~ (1%)
Adjustments:
Currency0.5%
Divestitures1.5%
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 charges0.3%
Costs to achieve0.1%
Acquisition-related intangible asset amortization expense2.8%
Adjusted forecasted segment operating margin~ 25.9%
PARKER HANNIFIN CORPORATION - MARCH 31, 2025Exhibit 99.1
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 charges0.47
Costs to achieve0.17
Acquisition-related intangible asset amortization expense4.22
Net gain on divestitures(1.91)
Gain on sale of building(0.08)
Saegertown incident0.06
Tax effect of adjustments1
(0.88)
Discrete tax benefit2
(1.37)
Adjusted forecasted earnings per diluted share$26.60 to $26.80
1This 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.
2Release of a tax valuation allowance.
Note: Totals may not foot due to rounding



Exhibit 99.1
PARKER HANNIFIN CORPORATION - MARCH 31, 2025
SUPPLEMENTAL INFORMATION
BUSINESS SEGMENT INFORMATION
Three Months EndedNine Months Ended
(Unaudited)March 31,March 31,
(Dollars in thousands)2025202420252024
Net sales
Diversified Industrial:
   North America businesses$2,030,970 $2,231,478 $6,059,302 $6,571,587 
   International businesses1,357,789 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 businesses312,039 309,759 895,017 900,944 
RECONCILIATION OF ORGANIC GROWTH
(Unaudited)Three Months Ended
As ReportedAdjusted
March 31, 2025CurrencyDivestituresMarch 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 ReportedAdjusted
March 31, 2025CurrencyDivestituresMarch 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 Pacific0.8 %(1.9)%— %2.7 %
Latin America(3.3)%(13.9)%— %10.6 %
International businesses(4.5)%(1.8)%— %(2.7)%

Exhibit 99.1
PARKER HANNIFIN CORPORATION - MARCH 31, 2025
SUPPLEMENTAL INFORMATION
RECONCILIATION OF SEGMENT OPERATING MARGINS TO ADJUSTED SEGMENT OPERATING MARGINS
Three Months EndedNine Months Ended
(Unaudited)March 31,March 31,
(Dollars in thousands)2025202420252024
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 amortization40,209 43,945 124,169 133,327 
Business realignment charges4,218 3,058 13,106 8,892 
Integration costs to achieve1,038 841 2,088 2,348 
Adjusted North America businesses operating income$512,529 $538,296 $1,517,557 $1,602,922 
North America businesses operating margin23.0 %22.0 %22.7 %22.2 %
Adjusted North America businesses operating margin25.2 %24.1 %25.0 %24.4 %
Three Months EndedNine Months Ended
(Unaudited)March 31,March 31,
(Dollars in thousands)2025202420252024
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 amortization21,391 22,464 65,265 68,342 
Business realignment charges6,031 3,895 25,386 23,985 
Integration costs to achieve1,034 451 1,389 954 
Adjusted International businesses operating income$340,495 $336,569 $987,057 $994,225 
International businesses operating margin23.0 %21.6 %22.2 %21.3 %
Adjusted International businesses operating margin25.1 %23.5 %24.4 %23.5 %