Donaldson Lowers FY19 Earnings, Sales Outlook - Quick Facts

(RTTNews) - Donaldson Company, Inc. (DCI) announced the company now expects full-year 2019 EPS between $2.27 and $2.41, compared with prior guidance of $2.31 to $2.45. The company is now projecting fiscal 2019 sales to increase between 5 and 9 percent, including a currency headwind of approximately 3 percent and sales contribution from BOFA of approximately 1 percent. The company said its revised 2019 sales forecast is 2 percentage points below prior guidance, with incremental currency headwinds and business performance each accounting for approximately half of the change.

Fiscal 2019 Engine sales are now projected to increase between 6 and 10 percent, or 1 percentage point below prior guidance. Fiscal 2019 Industrial sales are now projected to increase between 4 and 8 percent, or 3 percentage points below prior guidance.

Donaldson said it remains committed to repurchasing approximately 2 percent of its outstanding shares during fiscal 2019.

For the second-quarter, excluding impacts, adjusted EPS increased 9.3 percent to $0.47 from $0.43 in 2018. Sales increased 5.9 percent to $703.7 million from $664.7 million, prior year. Currency translation negatively impacted sales by approximately 2.7 percentage points, for the quarter.

Second quarter sales of Engine Products (Engine) increased 6.0 percent from last year, or 8.6 percent in constant currency. Sales of Industrial Products (Industrial) increased 5.6 percent from last year, or 8.4 percent in constant currency.