Donaldson Q1 Profit Declines; Cuts FY15 Outlook - Quick Facts

(RTTNews) - Filtration systems provider Donaldson Company, Inc. (DCI) posted first-quarter net earnings of $56 million or $0.40 per share, down from $62 million or $0.41 per share in the same quarter, a year ago.

On average, 10 analysts polled by Thomson Reuters expected earnings per share of $0.42 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the latest first quarter declined to $596.51 million from $599.38 million a year earlier, while 8 analysts had a consensus sales estimate of $622.64 million.

For the fiscal year 2015, the company now expects sales in the range of $2.50 billion to $2.60 billion, an increase of 1 and 5 percent, and earnings per share of between $1.77 and $1.97, excluding restructuring and pension lump sum settlement expenses. Analysts now forecast annual earnings of $1.93 per share on revenues of $2.63 billion.

Earlier, the company expected sales to be between $2.57 billion and $2.67 billion, or an increase of 4 - 8 percent, and per-share earnings of between $1.81 and $2.01.