Donaldson Slashes FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Thursday, Donaldson Co. Inc. (DCI) lowered its earnings and sales growth guidance for the full-year 2020, based on softer-than-expected market conditions, primarily in the Engine Aftermarket and IFS businesses.

The company noted that the updated guidance does not reflect the divestiture of Exhaust and Emissions.

For fiscal 2020, Donaldson now expects earnings in a range of $2.05 to $2.19 per share, compared to the prior guidance range of $2.21 to $2.37 per share.

The company also now expects full-year sales to decline between 7 and 3 percent, which continues to include a negative impact from currency of 1 to 2 percent and pricing benefits of about 1 percent. Previously, it expected a sales change between a 2 percent decline and a 4 percent increase.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.25 per share on a sales decline of 0.2 percent to $2.84 billion for the year. Analysts' estimates typically exclude special items.