Donaldson Now Projects FY18 Adj. EPS To Rise 17-19% - Quick Facts

(RTTNews) - Donaldson Company, Inc. (DCI) announced the company now expects fiscal 2018 adjusted EPS between $1.97 and $2.01, reflecting an increase of 2 cents when comparing the midpoints of the current and prior guidance ranges. Donaldson expects full-year sales will increase about 15 percent, compared with prior forecast of 13 to 15 percent.

Tod Carpenter, CEO, said: "Based on incremental strength across our company, particularly in our Engine first-fit and Industrial businesses, and continued momentum in many of our end markets, we now forecast full-year sales to increase about 15 percent and adjusted EPS to be up 17 to 19 percent."

Third quarter sales increased 15.1 percent to $700.0 million from $608.2 million last year. The company said the year-over-year increase includes benefits from currency translation and acquisitions completed in the prior year of approximately 5.7 percent and 1.4 percent, respectively. Third quarter GAAP earnings per share increased 17.8 percent to $0.53 from $0.45, previous year.