Donaldson Reports Strong Fiscal Second Quarter Results

In its fiscal second quarter, Donaldson saw increased sales driven by a resurgence in the disk-drive sector, previously a drag on growth.

Financial Performance

  • Profit reached $98.7 million, or 81 cents per share, up from $86 million, or 70 cents per share, in the same period last year.
  • Analysts had anticipated earnings of 74 cents per share.
  • Sales climbed nearly 6% to $876.7 million, surpassing analysts’ expectations of $874.3 million.

Segment Performance

  • Industrial-solutions and life-sciences sales increased by around 7% and 6%, respectively.
  • Mobile-solutions sales rose by approximately 5%, driven by aftermarket strength compensating for weakness in on-road and off-road segments.

Market Boosts

  • Donaldson noted that its life-sciences division benefited from the recovery in the previously subdued disk-drive market.
  • The company raised its fiscal-year earnings forecast to $3.24 to $3.32 per share, up from the previous range of $3.14 to $3.30 per share.

Overall, Donaldson demonstrates a strong performance with significant growth in key sectors, setting a positive trajectory for the upcoming quarters.

Leave a Reply

  +  47  =  49