Donaldson Co. Inc reported higher-than-expected quarterly earnings and sales and upgraded estimates for the full year as price increases helped offset rising raw material, freight and labor costs.
The share of the filter company does not show any change in the pre-conference transactions.
Net income for the quarter to Oct. 31 rose to $ 77.1 million, or 61 cents a share, from $ 61.9 million, or 48 cents a share, a year ago.
Convergent estimates spoke of 55 cents per share.
Sales rose 19.5% to $ 760.9 million, compared to estimates for $ 745.4 million.
Meanwhile, sales costs rose 21.7% to $ 503.9 million, as the gross margin fell to 33.8% from 35%.
The company also upgraded earnings per share estimates to $ 2.57-2.73 from a previous estimate of $ 2.50-2.66, and now expects sales to grow 8% -12% versus 5% – 10% previously expected.
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Source From: Capital
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