Donaldson Reaffirms FY23 Adj. EPS, Sales Growth Outlook; Q2 Results Top Estimates

(RTTNews) - While reporting financial results for the second quarter on Wednesday, Donaldson Co. Inc. (DCI) reaffirmed its adjusted earnings and sales growth guidance for the full-year 2024.

For fiscal 2024, Donaldson now projects earnings in a range of $3.24 to $3.32 per share and adjusted earnings in a range of $2.90 to $3.04 per share on net sales growth of 3 to 7 percent.

Previously, the company expected earnings in the range of $3.14 to $3.30 per share and adjusted earnings in the range of $2.90 to $3.04 per share on net sales growth of 3 to 7 percent.

On average, seven analysts polled by Thomson Reuters expect the company to report earnings of $3.57 per share on sales growth of 5.50 percent to $3.77 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net earnings of $98.7 million or $0.81 per share, up from $86.0 million or $0.70 per share in the prior-year quarter.

Net sales for the quarter increased 5.8 percent to $876.7 million from $828.3 million in the same quarter last year.

The Street was looking for earnings of $0.74 per share on net sales of $873.6 million for the quarter.

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