Donaldson Raises FY18 Guidance - Quick Facts

(RTTNews) - Donaldson Company, Inc. (DCI) announced the company expects fiscal 2018 GAAP EPS between $1.90 and $2.04, an increase of approximately 6 percent from prior guidance of $1.79 to $1.93. The company now forecasts full-year sales to increase 10 percent to 14 percent, compared with the prior forecast of 4 percent to 8 percent.

Donaldson Company reported first-quarter net earnings of $60.9 million, or $0.46 per share, compared to net earnings of $58.0 million, or $0.43 per share, prior year. The company noted that its prior year results included a one-time gain of approximately 5 cents per share related to the settlement of claims in an escrow account that had been established with Donaldson's acquisition of Northern Technical, L.L.C. in 2015. Excluding the impact from the Settlement in the prior year, Donaldson's first-quarter earnings per share increased 21.1 percent.

Firs-quarter sales increased 16.6 percent to $644.8 million from $553.0 million, previous year. The company said the year-over-year increase includes a benefit of approximately 1.7 percent from currency translation and 1.6 percent from acquisitions completed by the company during fiscal 2017.