Donaldson Q3 EPS Up, Misses Estimates; Updates FY22 Outlook - Quick Facts

(RTTNews) - Donaldson Co., Inc. (DCI), a provider of technology-led filtration products and solutions, reported Wednesday that its third-quarter net earnings were $83.0 million, a decrease of 1.8 percent from $84.4 million in the prior year.

Earnings per share, however, grew 1.1 percent to $0.67 from $0.66 with lower share count.

On average, six analysts polled by Thomson Reuters expected earnings of $0.72 per share for the quarter. Analysts' estimates typically exclude special items.

Third-quarter sales increased 11.5 percent to $853.2 million from $765.0 million in 2021. Analysts estimated revenues of $823.99 million for the quarter.

Further, the company revised fiscal 2022 outlook for earnings and sales.

For the year, earnings per share is now expected to be between $2.67 and $2.73, versus a previous range of between $2.66 and $2.76. In 2021, earnings on a reported and adjusted basis were $2.24 and $2.32, respectively. Analysts expect earnings of $2.7 per share for the year.

For fiscal 2022, Donaldson now projects sales to increase 14.5 percent to 16.5 percent over prior year, up from previous guidance of 11 percent to 15 percent, and driven primarily by strength in Engine sales.

Donaldson also increased its share repurchase expectation to be between 2.0 percent and 2.5 percent of shares outstanding from approximately 2.0 percent previously.