Donaldson (DCI) Tops Q3 EPS by 4c

Donaldson (NYSE: DCI) reported Q3 EPS of $0.50, $0.04 better than the analyst estimate of $0.46. Revenue for the quarter came in at $629.7 million versus the consensus estimate of $644.02 million.

Fiscal 2020 Expectations:

As previously disclosed, Donaldson withdrew its financial targets for fiscal years 2020 and 2021.4 While the magnitude and duration of the impact from the COVID-19 pandemic on certain aspects of the Company’s financial performance remains uncertain, Donaldson expects:

• May 2020 sales to be down about 24 percent, reflecting relative outperformance in replacement parts versus new equipment, and, on a regional basis, Asia Pacific sales are expected to be the strongest while sales in the Americas are expected to be the weakest,
• To maintain a strong financial position, which was further augmented with an incremental 364-day facility that provides an additional $100 million in liquidity,5
• The pace of capital expenditures will continue to slow as strategic projects related to capacity expansion and research and development capabilities near completion, and
• Fiscal 2020 share repurchase will total 1.6 percent of outstanding shares, reflecting what has already been completed year-to-date through the third quarter.

For earnings history and earnings-related data on Donaldson (DCI) click here.

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