Donaldson (NYSE: DCI) reported Q1 EPS of $0.56, $0.01 worse than the analyst estimate of $0.57. Revenue for the quarter came in at $701.4 million versus the consensus estimate of $700.91 million.

“We had a strong start to the fiscal year, with benefits from consistent execution of our strategic priorities and significant expense leverage contributing to record first quarter sales and earnings,” said Tod Carpenter, chairman, president and chief executive officer. “Strength from program wins and further penetration into existing and adjacent markets built on favorable market conditions, and we are on track to deliver record sales and profit in 2019.

“We remain encouraged by the operating environment, despite geopolitical uncertainty and inflationary pressure, and we are investing for the future. We are pursuing organic opportunities with technology development and capacity expansion, and the recent acquisition of BOFA complements our already-strong portfolio of Industrial businesses. Through our focused expense planning and efforts to offset inflation with pricing, we can make these investments while driving incremental profit to the bottom line. We have momentum across the company, and I am confident that executing our strategic agenda will further strengthen our position as a leader in the global filtration industry.”

GUIDANCE:

Donaldson sees FY2019 EPS of $2.31-$2.45, versus the consensus of $2.37.

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