Free Post Earnings Research Report: Donaldson’s Quarterly Earnings Advanced 17.78%

LONDON, UK / ACCESSWIRE / June 28, 2018 / If you want access to our free earnings report on Donaldson Co., Inc. (NYSE: DCI), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DCI. The Company reported its financial results on May 31, 2018, for the third quarter of the fiscal year 2018, ended April 30, 2018. The Company surpassed analysts’ estimates for earnings and revenues in Q3 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Earnings Highlights and Summary

For Q3 FY18, Donaldson’s net sales reached $700 million, reflecting an increase of 15.09% from $608.20 million in Q3 FY17. The Company’s revenue numbers exceeded analysts’ consensus estimates of $684.4 million. The increase in revenue includes benefits from currency translation and acquisitions completed in the prior year of approximately 5.7% and 1.4%, respectively.

During Q3 FY18, Donaldson’s cost of sales was $460.40 million, 16.06% higher than $396.70 million in Q3 FY17. The Company’s gross profit advanced 13.29% to $239.60 million in the quarter under review from $211.50 million in the year ago same quarter.

Donaldson incurred operating expenses of $138.70 million in Q3 FY18, an increase of 12.76% from $123 million in Q3 FY17. The Company’s operating income advanced 14.01% to $100.90 million in the reported quarter from $88.50 million in the previous year’s comparable quarter.

Donaldson had net earnings of $69.90 million in the quarter ended April 30, 2018, 16.31% higher than $60.10 million in the corresponding period of last year. The Company’s diluted earnings per share (EPS) also advanced 17.78% to $0.53 in the reported quarter from $0.45 in the year ago same quarter. This was higher than analysts’ consensus estimates of $0.52 per share.

Segment Details

During Q3 FY18, Donaldson’s Engine Products segment reported revenues of $472.30 million, up 16.44% on a y-o-y basis. For the quarter under review, the segment’s off-road net sales advanced 30.48% to $89.90 million on a y-o-y basis; its on-road sales increased 46.53% to $42.20 million on a y-o-y basis; and its aftermarket sales jumped 12.62% to $315.10 million on a y-o-y basis. The segment had earnings before income taxes of $67.80 million in Q3 FY18, 7.45% higher than $63.10 million in Q3 FY17.

For Q3 FY18, Donaldson’s Industrial Products segment’s net revenues ascended 12.39% to $227.70 million on a y-o-y basis. For the reported quarter, the segment’s industrial filtration solutions sales jumped 17.71% to $152.20 million on a y-o-y basis; its gas turbine systems sales increased 2.88% to $32.10 million on a y-o-y basis; while its special applications sales advanced 3.09% to $43.40 million on a y-o-y basis. The segment had earnings before income taxes of $34.80 million in the quarter under review compared to $31.90 million in the year ago corresponding quarter, reflecting an increase of 9.09%.

Cash Matters

Donaldson had cash and cash equivalents of $317.30 million as on April 30, 2018, an increase of 2.89% from $308.40 million as on July 31, 2017. The Company had a long-term debt of $687.50 million as on April 30, 2018, up 27.95% from $537.30 million as on July 31, 2017.

For the nine months ended April 30, 2018, Donaldson’s cash flow from operating activities was $158.70 million, reflecting a decrease of 31.24% from $230.80 million in the comparable period of last year. The Company had a free cash flow of $85.60 million in 9M FY18 compared to $189.60 million in 9M FY17.

Donaldson paid dividends of $70.20 million in the reported period, 1.01% higher than $69.50 million in the prior year’s same period. The Company’s net expenditure on property, plant, and equipment was $73.10 million in 9M FY18, 77.43% higher than $41.20 million in 9M FY17.

Outlook

For the full fiscal year 2018, Donaldson expects adjusted EPS to be between $1.97 and $2.01, reflecting an increase of 2 cents when comparing the midpoints of the current and prior guidance ranges. The Company expects sales to increase by about 18% for FY18 compared to prior forecasts of 13% to 15%. The forecasts includes benefits from currency translation and acquisitions completed in FY17 of approximately 3% and 1%, respectively.

On May 23, 2018, Donaldson’s Board of Directors declared a regular cash dividend of $0.19 per share, an increase of 5.6% from the prior quarterly cash dividend of $0.18 per share. The dividend is payable on June 28, 2018, to shareholders of record as on June 11, 2018. The Company has paid a cash dividend every quarter for 62 years, and has increased the dividend annually for more than 20 years.

Stock Performance Snapshot

June 27, 2018 – At Wednesday’s closing bell, Donaldson’s stock was marginally down 0.59%, ending the trading session at $45.25.

Volume traded for the day: 410.64 thousand shares.

Stock performance in the previous three-month period – up 3.52%; and past twelve-month period – up 0.78%

After yesterday’s close, Donaldson’s market cap was at $6.01 billion.

Price to Earnings (P/E) ratio was at 39.45.

The stock has a dividend yield of 1.68%.

The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry.

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