Parker-Hannifin Corporation PH reported better-than-expected results for second-quarter fiscal 2020 (ended December 2019), wherein both earnings and revenues beat estimates.Earnings/RevenuesQuarterly adjusted earnings came in at $2.54 per share, up 1.2% year over year from $2.51. Also, the bottom line outpaced the Zacks Consensus Estimate of $2.29.Parker-Hannifin Corporation Price, Consensus and EPS Surprise Parker-Hannifin Corporation price-consensus-eps-surprise-chart | Parker-Hannifin Corporation QuoteRevenues for the fiscal second quarter were about $3,498 million, up 0.7% year over year. Moreover, the top line beat the consensus estimate of $3,464 million.Segmental BreakupNorth American segment’s revenues came in at $1,615.9 million, down 1% year over year.International’s top-line figure declined 6.3% to $1,147.1 million.Aerospace Systems generated revenues of $735 million, up 19.3%.Costs/MarginsCost of sales in the fiscal second quarter was $2,682.8 million, up 3.1% year over year. Selling, general and administrative expenses were $491.1 million, up from $397.3 million. Adjusted operating margin was 15.8%, down 80 basis points.Balance Sheet/Cash FlowExiting the fiscal second quarter, Parker-Hannifin had cash and cash equivalents of $948.4 million, down from $3,219.8 million recorded on Jun 30, 2019. At the end of the reported quarter, long-term debt was $8,141.2 million compared with $6,520.8 million as of Jun 30, 2019.In first six months of fiscal 2020, the company generated about $826 million cash from operating activities, up from $541 million in the first six months of fiscal 2019.OutlookParker-Hannifin intends to boost its near-term revenues and profitability on the back of its Win Strategy. The company revised earnings view for fiscal 2020 to $10.25-$10.85 from $10.10-$10.90 per share.Zacks Rank & Stocks to Consider Parker-Hannifin currently has a Zacks Rank #3 (Hold).Some better-ranked stocks from the Zacks Industrial Products sector are Barnes Group, Inc. B, Berry Global Group, Inc. BERY Cintas Corporation CTAS. All these companies carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Barnes Group delivered positive earnings surprise of 4.21%, on average, in the trailing four quarters.Berry Global delivered positive earnings surprise of 0.70%, on average, in the trailing four quarters.Cintas pulled off positive earnings surprise of 8.50%, on average, in the trailing four quarters.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Berry Global Group, Inc. (BERY): Free Stock Analysis Report Cintas Corporation (CTAS): Free Stock Analysis Report Parker-Hannifin Corporation (PH): Free Stock Analysis Report Barnes Group, Inc. (B): Free Stock Analysis Report To read this article on Zacks.com click here.