Donaldson Reports Record First Quarter Fiscal 2025 Sales and Earnings
Donaldson Company (NYSE: DCI) reported record first quarter fiscal 2025 results with sales of $900.1 million, up 6.4% year-over-year. GAAP earnings reached $99.0 million with EPS of $0.81, increasing 8.1% from prior year, while adjusted EPS was $0.83.
The company saw growth across all segments: Mobile Solutions up 6.0%, Industrial Solutions up 4.6%, and Life Sciences up 16.6%. Gross margin was 35.5%, slightly down from 35.6% in 2024. The company reaffirmed its fiscal 2025 outlook, projecting adjusted EPS between $3.56 and $3.72, with sales expected to increase 2-6% year-over-year.
Donaldson Company (NYSE: DCI) ha riportato risultati record per il primo trimestre dell'anno fiscale 2025, con vendite di 900,1 milioni di dollari, in aumento del 6,4% rispetto all'anno precedente. Gli utili GAAP hanno raggiunto i 99,0 milioni di dollari, con un EPS di 0,81 dollari, aumentando dell'8,1% rispetto all'anno scorso, mentre l'EPS rettificato si è attestato a 0,83 dollari.
L'azienda ha registrato una crescita in tutti i segmenti: Soluzioni Mobili in aumento del 6,0%, Soluzioni Industriali in incremento del 4,6% e Scienze della Vita in crescita del 16,6%. Il margine lordo è stato del 35,5%, in leggero calo rispetto al 35,6% del 2024. L'azienda ha confermato le previsioni per l'anno fiscale 2025, prevedendo un EPS rettificato compreso tra 3,56 e 3,72 dollari, con vendite attese in aumento del 2-6% anno su anno.
Donaldson Company (NYSE: DCI) reportó resultados récord en el primer trimestre del año fiscal 2025, con ventas de 900,1 millones de dólares, un aumento del 6,4% en comparación con el año anterior. Las ganancias GAAP alcanzaron los 99,0 millones de dólares con un EPS de 0,81 dólares, un incremento del 8,1% respecto al año pasado, mientras que el EPS ajustado fue de 0,83 dólares.
La empresa vio crecimiento en todos los segmentos: Soluciones Móviles aumentaron un 6,0%, Soluciones Industriales un 4,6%, y Ciencias de la Vida un 16,6%. El margen bruto fue del 35,5%, ligeramente por debajo del 35,6% en 2024. La empresa reafirmó su proyección para el año fiscal 2025, esperando un EPS ajustado entre 3,56 y 3,72 dólares, con ventas que se anticipa aumentarán entre un 2-6% anual.
돈남슨 컴퍼니 (NYSE: DCI)는 2025 회계연도 첫 분기 실적을 발표하며, 9억 1천만 달러의 판매 기록을 세우고 전년 대비 6.4% 증가했다고 전했습니다. GAAP 수익은 9천9백만 달러에 달하며, 주당 순이익(EPS)은 0.81 달러로 작년보다 8.1% 증가했으며, 조정된 EPS는 0.83 달러였습니다.
모든 부문에서 성장을 보였으며, 모바일 솔루션은 6.0%, 산업 솔루션은 4.6%, 생명 과학 분야는 16.6% 증가했습니다. 총 마진은 35.5%로 2024년의 35.6%에서 소폭 하락했습니다. 회사는 2025 회계연도 전망을 재확인하며, 조정된 EPS를 3.56에서 3.72 달러로 예상하고 있으며, 연간 판매 증가율은 2-6%로 예상하고 있습니다.
Donaldson Company (NYSE: DCI) a annoncé des résultats record pour le premier trimestre de l'exercice 2025, avec des ventes de 900,1 millions de dollars, en hausse de 6,4 % par rapport à l'année précédente. Les bénéfices GAAP ont atteint 99,0 millions de dollars avec un BPA de 0,81 dollar, en hausse de 8,1 % par rapport à l'année précédente, tandis que le BPA ajusté était de 0,83 dollar.
L'entreprise a enregistré une croissance dans tous les segments : Solutions Mobiles en hausse de 6,0 %, Solutions Industrielles en hausse de 4,6 % et Sciences de la Vie en hausse de 16,6 %. La marge brute était de 35,5 %, légèrement en baisse par rapport à 35,6 % en 2024. L'entreprise a réaffirmé ses prévisions pour l'exercice 2025, projetant un BPA ajusté entre 3,56 et 3,72 dollars, avec des ventes attendues en hausse de 2 à 6 % par rapport à l'année précédente.
Donaldson Company (NYSE: DCI) hat im ersten Quartal des Geschäftsjahres 2025 Rekordzahlen gemeldet, mit einem Umsatz von 900,1 Millionen US-Dollar, was einem Anstieg von 6,4% im Vergleich zum Vorjahr entspricht. Die GAAP-Gewinne beliefen sich auf 99,0 Millionen US-Dollar, mit einem EPS von 0,81 US-Dollar, was einem Anstieg von 8,1% gegenüber dem Vorjahr entspricht, während das bereinigte EPS 0,83 US-Dollar betrug.
Das Unternehmen verzeichnete in allen Segmenten ein Wachstum: Mobile Lösungen stiegen um 6,0%, Industielle Lösungen um 4,6% und Lebenswissenschaften um 16,6%. Die Bruttomarge betrug 35,5% und ist leicht gesunken von 35,6% im Jahr 2024. Das Unternehmen bestätigte seine Ausblicke für das Geschäftsjahr 2025, wobei das bereinigte EPS zwischen 3,56 und 3,72 US-Dollar prognostiziert wird, und ein Umsatzwachstum von 2-6% im Vergleich zum Vorjahr erwartet wird.
- Record Q1 sales of $900.1M, up 6.4% YoY
- GAAP earnings increased to $99.0M from $92.1M
- Adjusted EPS grew to $0.83
- Strong Life Sciences segment growth of 16.6%
- Aerospace and Defense sales up 26.8%
- Aftermarket sales increased 10.7%
- On-Road sales declined 15.0%
- Off-Road sales decreased 5.9%
- Gross margin slightly declined to 35.5% from 35.6%
- Operating margin decreased 20 basis points to 14.5%
Insights
Donaldson's Q1 FY2025 results demonstrate solid performance with
- Aftermarket segment showed robust growth of
10.7% , indicating strong market position and recovery from previous customer destocking - Aerospace and Defense division posted impressive
26.8% growth - Life Sciences segment grew
16.6% , showing promising diversification
The company maintained healthy margins with adjusted operating margin at
First quarter sales of
GAAP EPS of
Reaffirming fiscal 2025 outlook
“Donaldson’s record first quarter earnings, driven by robust sales growth and continued margin strength, mark a strong start to fiscal 2025,” said Tod Carpenter, chairman, president and chief executive officer. “We gained share in several of our key businesses while continuing the footprint and cost optimization initiatives we began last quarter, strengthening our foundation for higher profitability.
“For the balance of the year, our focus is on delivery to customers, execution of optimization initiatives, and shareholder value creation through another year of record sales and earnings. We are committed to maintaining our position as the leader in technology-led filtration with disciplined investments in key strategic areas, including in our Life Sciences segment and bioprocessing businesses.”
First Quarter Operating Results
Sales of
|
Three Months Ended |
||||
|
October 31, 2024 |
||||
|
Reported %
|
|
Constant
|
||
Mobile Solutions segment |
|
|
|
||
Off-Road |
(5.9 |
)% |
|
(6.7 |
)% |
On-Road |
(15.0 |
) |
|
(15.2 |
) |
Aftermarket |
10.7 |
|
|
10.1 |
|
Total Mobile Solutions segment |
6.0 |
|
|
5.4 |
|
|
|
|
|
||
Industrial Solutions segment |
|
|
|
||
Industrial Filtration Solutions |
0.8 |
|
|
(0.1 |
) |
Aerospace and Defense |
26.8 |
|
|
26.0 |
|
Total Industrial Solutions segment |
4.6 |
|
|
3.7 |
|
|
|
|
|
||
Life Sciences segment |
|
|
|
||
Total Life Sciences segment |
16.6 |
|
|
13.9 |
|
|
|
|
|
||
Total Company |
6.4 |
% |
|
5.5 |
% |
|
|
|
|
||
Mobile Solutions segment (Mobile) sales rose
Industrial Solutions segment (Industrial) sales increased
Life Sciences segment (Life Sciences) sales increased
Gross margin was
Operating expenses as a percentage of sales were
Operating income as a percentage of sales (operating margin) of
Interest expense was
During the first quarter, Donaldson paid
Reaffirming Fiscal 2025 Outlook
Adjusted full-year EPS, which excludes
Mobile sales are projected to be flat to up
Industrial sales are forecast to grow between
Life Sciences sales are forecast to increase low-double digits compared with prior year driven by growth in Disk Drive and Food & Beverage.
Adjusted operating margin, driven by continued gross margin strength and operating expense leverage, is expected to be between
Interest expense is estimated to be approximately
Capital expenditures are forecast to be between
| _________________________________ |
1 All EPS figures refer to diluted EPS. |
2 Adjusted EPS is a non-GAAP financial measure that excludes the impact of certain items not related to ongoing operations. |
3 First quarter fiscal 2025 adjusted results exclude |
4 Fiscal 2024 adjusted results exclude |
Miscellaneous
The Company will webcast its first quarter fiscal 2025 earnings conference call today at 9:00 a.m. CT. To listen to the webcast, visit the “Events & Presentations” section of Donaldson’s Investor Relations website (IR.Donaldson.com), and click on the “listen to webcast” option. The webcast replay will be available at approximately 12:00 p.m. CT today. Also available on the website is the Company’s supplemental quarterly earnings presentation.
Statements in this release regarding future events and expectations, such as forecasts, plans, trends and projections relating to the Company’s business and financial performance, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are identified by words or phrases such as “will likely result,” “are expected to,” “will continue,” “will allow,” “estimate,” “project,” “believe,” “expect,” “anticipate,” “forecast,” “plan” and similar expressions. These forward-looking statements speak only as of the date such statements are made and are subject to risks and uncertainties that could affect the Company’s performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed. These factors include, but are not limited to, challenges in global operations; impacts of global economic, industrial and political conditions on product demand; impacts from unexpected events, including natural disasters; effects of unavailable raw materials or material cost inflation; inability to attract and retain qualified personnel; inability to meet customer demand; inability to maintain competitive advantages; threats from disruptive technologies; effects of highly competitive markets with pricing pressure; exposure to customer concentration in certain cyclical industries; inability to manage productivity improvements; inability to achieve commitments to ESG; results of execution of any acquisition, divestiture and other strategic transactions; vulnerabilities associated with information technology systems and security; inability to protect and enforce intellectual property rights; costs associated with governmental laws and regulations; impacts of foreign currency fluctuations; and effects of changes in capital and credit markets. These and other factors are described in Part I, Item 1A, “Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2024. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law. The results presented herein are preliminary, unaudited and subject to revision until the Company files its results with the United States Securities and Exchange Commission on Form 10-Q.
About Donaldson Company, Inc.
Founded in 1915, Donaldson (NYSE: DCI) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Diverse, skilled employees at over 140 locations on six continents partner with customers – from small business owners to R&D organizations and the world’s biggest OEM brands. Donaldson solves complex filtration challenges through three primary segments: Mobile Solutions, Industrial Solutions and Life Sciences. Additional information is available at www.Donaldson.com.
DONALDSON COMPANY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (In millions, except per share amounts) (Unaudited) |
||||||||||
|
Three Months Ended |
|||||||||
|
October 31, |
|||||||||
|
|
2024 |
|
|
|
2023 |
|
|
Change |
|
Net sales |
$ |
900.1 |
|
|
$ |
846.3 |
|
|
6.4 |
% |
Cost of sales |
|
580.5 |
|
|
|
545.4 |
|
|
6.4 |
|
Gross profit |
|
319.6 |
|
|
|
300.9 |
|
|
6.2 |
|
Selling, general and administrative |
|
166.1 |
|
|
|
155.0 |
|
|
7.2 |
|
Research and development |
|
22.7 |
|
|
|
21.3 |
|
|
6.4 |
|
Operating expenses |
|
188.8 |
|
|
|
176.3 |
|
|
7.1 |
|
Operating income |
|
130.8 |
|
|
|
124.6 |
|
|
4.9 |
|
Interest expense |
|
5.5 |
|
|
|
5.5 |
|
|
— |
|
Other income, net |
|
(5.2 |
) |
|
|
(3.8 |
) |
|
38.8 |
|
Earnings before income taxes |
|
130.5 |
|
|
|
122.9 |
|
|
6.2 |
|
Income taxes |
|
31.5 |
|
|
|
30.8 |
|
|
2.3 |
|
Net earnings |
$ |
99.0 |
|
|
$ |
92.1 |
|
|
7.5 |
% |
|
|
|
|
|
|
|||||
Weighted average shares – basic |
|
119.9 |
|
|
|
120.9 |
|
|
(0.8 |
)% |
Weighted average shares – diluted |
|
121.9 |
|
|
|
122.6 |
|
|
(0.5 |
)% |
|
|
|
|
|
|
|||||
Net EPS – basic |
$ |
0.83 |
|
|
$ |
0.76 |
|
|
8.4 |
% |
Net EPS – diluted |
$ |
0.81 |
|
|
$ |
0.75 |
|
|
8.1 |
% |
|
|
|
|
|
|
|||||
Dividends paid per share |
$ |
0.27 |
|
|
$ |
0.25 |
|
|
8.0 |
% |
Note: Amounts may not foot due to rounding. |
||||||||||
DONALDSON COMPANY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) (Unaudited) |
|||||
|
October 31, |
|
July 31, |
||
|
|
2024 |
|
|
2024 |
Assets |
|
|
|
||
Current assets: |
|
|
|
||
Cash and cash equivalents |
$ |
221.2 |
|
$ |
232.7 |
Accounts receivable, net |
|
631.3 |
|
|
629.7 |
Inventories, net |
|
520.0 |
|
|
476.7 |
Prepaid expenses and other current assets |
|
106.9 |
|
|
99.0 |
Total current assets |
|
1,479.4 |
|
|
1,438.1 |
Property, plant and equipment, net |
|
647.4 |
|
|
645.5 |
Goodwill |
|
479.9 |
|
|
478.4 |
Intangible assets, net |
|
168.3 |
|
|
171.9 |
Other long-term assets |
|
268.6 |
|
|
180.4 |
Total assets |
$ |
3,043.6 |
|
$ |
2,914.3 |
|
|
|
|
||
Liabilities and Stockholders’ Equity |
|
|
|
||
Current liabilities: |
|
|
|
||
Short-term borrowings |
$ |
78.2 |
|
$ |
28.3 |
Current maturities of long-term debt |
|
25.0 |
|
|
25.0 |
Accounts payable |
|
373.5 |
|
|
379.4 |
Accrued employee compensation and related taxes |
|
135.3 |
|
|
140.9 |
Deferred revenue |
|
24.8 |
|
|
19.7 |
Income taxes payable |
|
60.5 |
|
|
42.6 |
Dividends payable |
|
— |
|
|
32.5 |
Other current liabilities |
|
103.3 |
|
|
114.1 |
Total current liabilities |
|
800.6 |
|
|
782.5 |
Long-term debt |
|
538.6 |
|
|
483.4 |
Non-current income taxes payable |
|
40.4 |
|
|
39.8 |
Deferred income taxes |
|
15.3 |
|
|
16.1 |
Other long-term liabilities |
|
105.7 |
|
|
103.4 |
Total liabilities |
|
1,500.6 |
|
|
1,425.2 |
|
|
|
|
||
Total stockholders’ equity |
|
1,543.0 |
|
|
1,489.1 |
Total liabilities and stockholders’ equity |
$ |
3,043.6 |
|
$ |
2,914.3 |
DONALDSON COMPANY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) |
|||||||
|
Three Months Ended |
||||||
|
October 31, |
||||||
|
|
2024 |
|
|
|
2023 |
|
Operating Activities |
|
|
|
||||
Net earnings |
$ |
99.0 |
|
|
$ |
92.1 |
|
Adjustments to reconcile net earnings to net cash provided by operating activities: |
|
|
|
||||
Depreciation and amortization |
|
25.5 |
|
|
|
24.3 |
|
Deferred income taxes |
|
(4.7 |
) |
|
|
(4.6 |
) |
Stock-based compensation expense |
|
12.2 |
|
|
|
10.5 |
|
Other, net |
|
(2.4 |
) |
|
|
(0.2 |
) |
Changes in operating assets and liabilities |
|
(56.7 |
) |
|
|
15.9 |
|
Net cash provided by operating activities |
|
72.9 |
|
|
|
138.0 |
|
|
|
|
|
||||
Investing Activities |
|
|
|
||||
Purchases of property, plant and equipment |
|
(25.0 |
) |
|
|
(23.2 |
) |
Equity investment |
|
(71.0 |
) |
|
|
— |
|
Net cash used in investing activities |
|
(96.0 |
) |
|
|
(23.2 |
) |
|
|
|
|
||||
Financing Activities |
|
|
|
||||
Proceeds from long-term debt |
|
55.0 |
|
|
|
35.0 |
|
Repayments of long-term debt |
|
— |
|
|
|
(73.8 |
) |
Change in short-term borrowings |
|
50.1 |
|
|
|
41.5 |
|
Purchase of treasury stock |
|
(74.4 |
) |
|
|
(53.3 |
) |
Dividends paid |
|
(32.4 |
) |
|
|
(30.2 |
) |
Exercise of stock options and other |
|
11.5 |
|
|
|
1.9 |
|
Net cash provided by (used in) in financing activities |
|
9.8 |
|
|
|
(78.9 |
) |
Effect of exchange rate changes on cash |
|
1.8 |
|
|
|
(5.2 |
) |
(Decrease) increase in cash and cash equivalents |
|
(11.5 |
) |
|
|
30.7 |
|
Cash and cash equivalents, beginning of period |
|
232.7 |
|
|
|
187.1 |
|
Cash and cash equivalents, end of period |
$ |
221.2 |
|
|
$ |
217.8 |
|
CONSOLIDATED RATE ANALYSIS (Unaudited) |
|||||
|
Three Months Ended |
||||
|
October 31, |
||||
|
2024 |
|
|
2023 |
|
Gross margin |
35.5 |
% |
|
35.6 |
% |
Operating expenses |
21.0 |
% |
|
20.8 |
% |
Operating margin |
14.5 |
% |
|
14.7 |
% |
Other income, net |
(0.6 |
)% |
|
(0.4 |
)% |
Depreciation and amortization |
2.8 |
% |
|
2.9 |
% |
EBITDA |
17.9 |
% |
|
18.0 |
% |
Effective tax rate |
24.2 |
% |
|
25.1 |
% |
Earnings before income taxes - Mobile Solutions |
18.3 |
% |
|
17.1 |
% |
Earnings before income taxes - Industrial Solutions |
15.9 |
% |
|
17.6 |
% |
Loss before income taxes - Life Sciences |
(7.6 |
)% |
|
(7.0 |
)% |
Cash conversion ratio |
48.4 |
% |
|
124.6 |
% |
|
|
|
|
||
|
Three Months Ended |
||||
|
October 31, |
||||
|
2024 |
|
|
2023 |
|
Adjusted Rates |
|
|
|
||
Gross margin |
35.6 |
% |
|
35.6 |
% |
Operating expenses |
20.7 |
% |
|
20.8 |
% |
Operating margin |
14.9 |
% |
|
14.7 |
% |
Other income, net |
(0.6 |
)% |
|
(0.4 |
)% |
Depreciation and amortization |
2.8 |
% |
|
2.9 |
% |
EBITDA |
18.3 |
% |
|
18.0 |
% |
Effective tax rate |
24.2 |
% |
|
25.1 |
% |
Earnings before income taxes - Mobile Solutions |
18.3 |
% |
|
17.1 |
% |
Earnings before income taxes - Industrial Solutions |
15.9 |
% |
|
17.6 |
% |
Loss before income taxes - Life Sciences |
(7.6 |
)% |
|
(7.0 |
)% |
Cash conversion ratio |
47.2 |
% |
|
124.6 |
% |
Note: Rate analysis metrics are computed by dividing the applicable amount by net sales, and cash conversion ratio reflects free cash flow divided by net earnings. Adjusted rates exclude the impact of certain items not related to ongoing operations. Adjusted rates are non-GAAP measures; see the Reconciliation of Non-GAAP Financial Measures schedule for additional information. |
|||||
SEGMENT DETAIL (In millions) (Unaudited) |
||||||||||
|
Three Months Ended October 31, |
|||||||||
|
|
2024 |
|
|
|
2023 |
|
|
Change |
|
Net sales |
|
|
|
|
|
|||||
Mobile Solutions segment |
|
|
|
|
|
|||||
Off-Road |
$ |
89.1 |
|
|
$ |
94.7 |
|
|
(5.9 |
)% |
On-Road |
|
32.1 |
|
|
|
37.8 |
|
|
(15.0 |
) |
Aftermarket |
|
451.2 |
|
|
|
407.5 |
|
|
10.7 |
|
Total Mobile Solutions segment |
|
572.4 |
|
|
|
540.0 |
|
|
6.0 |
|
|
|
|
|
|
|
|||||
Industrial Solutions segment |
|
|
|
|
|
|||||
Industrial Filtration Solutions |
|
212.4 |
|
|
|
210.6 |
|
|
0.8 |
|
Aerospace and Defense |
|
45.2 |
|
|
|
35.6 |
|
|
26.8 |
|
Total Industrial Solutions segment |
|
257.6 |
|
|
|
246.2 |
|
|
4.6 |
|
|
|
|
|
|
|
|||||
Life Sciences segment |
|
|
|
|
|
|||||
Total Life Sciences segment |
|
70.1 |
|
|
|
60.1 |
|
|
16.6 |
|
|
|
|
|
|
|
|||||
Total Company |
$ |
900.1 |
|
|
$ |
846.3 |
|
|
6.4 |
% |
|
|
|
|
|
|
|||||
Earnings (loss) before income taxes |
|
|
|
|
|
|||||
Mobile Solutions segment |
$ |
104.7 |
|
|
$ |
92.2 |
|
|
13.6 |
% |
Industrial Solutions segment |
|
41.0 |
|
|
|
43.3 |
|
|
(5.3 |
) |
Life Sciences segment |
|
(5.3 |
) |
|
|
(4.2 |
) |
|
(26.2 |
) |
Corporate and unallocated |
|
(9.9 |
) |
|
|
(8.4 |
) |
|
(17.9 |
) |
Total Company |
$ |
130.5 |
|
|
$ |
122.9 |
|
|
6.2 |
% |
Earnings (loss) before income taxes percentage |
|
|
|
|
|
|||
Mobile Solutions segment |
18.3 |
% |
|
17.1 |
% |
|
1.2 |
% |
Industrial Solutions segment |
15.9 |
% |
|
17.6 |
% |
|
(1.7 |
)% |
Life Sciences segment |
(7.6 |
)% |
|
(7.0 |
)% |
|
(0.6 |
)% |
Note: Earnings before income taxes percentage is calculated by dividing earnings before income taxes by net sales. Amounts may not foot due to rounding. |
||||||||
SEGMENT SALES PERCENT CHANGE FROM PRIOR PERIODS BY GEOGRAPHY, AS REPORTED (Unaudited) |
||||||||||||||
|
Three Months Ended October 31, 2024 |
|||||||||||||
|
TOTAL |
|
|
|
EMEA(3) |
|
APAC(4) |
|
LATAM(5) |
|||||
Mobile Solutions segment |
|
|
|
|
|
|
|
|
|
|||||
Off-Road |
(5.9 |
)% |
|
2.2 |
% |
|
(20.1 |
)% |
|
5.8 |
% |
|
8.8 |
% |
On-Road |
(15.0 |
) |
|
(14.3 |
) |
|
4.0 |
|
|
(27.9 |
) |
|
8.7 |
|
Aftermarket |
10.7 |
|
|
10.1 |
|
|
14.7 |
|
|
12.1 |
|
|
6.1 |
|
Total Mobile Solutions segment |
6.0 |
|
|
6.6 |
|
|
4.7 |
|
|
6.5 |
|
|
6.2 |
|
|
|
|
|
|
|
|
|
|
|
|||||
Industrial Solutions segment |
|
|
|
|
|
|
|
|
|
|||||
Industrial Filtration Solutions |
0.8 |
|
|
1.6 |
|
|
0.3 |
|
|
4.2 |
|
|
(12.0 |
) |
Aerospace and Defense |
26.8 |
|
|
41.0 |
|
|
(11.8 |
) |
|
9.0 |
|
|
N/A |
|
Total Industrial Solutions segment |
4.6 |
|
|
9.0 |
|
|
(1.2 |
) |
|
4.3 |
|
|
(12.0 |
) |
|
|
|
|
|
|
|
|
|
|
|||||
Life Sciences segment |
|
|
|
|
|
|
|
|
|
|||||
Total Life Sciences segment |
16.6 |
|
|
5.1 |
|
|
4.4 |
|
|
36.1 |
|
|
12.0 |
|
|
|
|
|
|
|
|
|
|
|
|||||
Total Company |
6.4 |
% |
|
7.4 |
% |
|
2.8 |
% |
|
10.8 |
% |
|
4.2 |
% |
Note: Amounts may not foot due to rounding.
(1)
(2)
(3)
(4)
(5) |
||||||||||||||
SEGMENT SALES PERCENT CHANGE FROM PRIOR PERIODS BY GEOGRAPHY, CONSTANT CURRENCY (Unaudited) |
||||||||||||||
|
Three Months Ended October 31, 2024 |
|||||||||||||
|
TOTAL |
|
|
|
EMEA |
|
APAC |
|
LATAM |
|||||
Mobile Solutions segment |
|
|
|
|
|
|
|
|
|
|||||
Off-Road |
(6.7 |
)% |
|
2.2 |
% |
|
(22.5 |
)% |
|
5.4 |
% |
|
13.4 |
% |
On-Road |
(15.2 |
) |
|
(14.3 |
) |
|
2.3 |
|
|
(29.0 |
) |
|
18.4 |
|
Aftermarket |
10.1 |
|
|
10.1 |
|
|
11.0 |
|
|
10.4 |
|
|
9.0 |
|
Total Mobile Solutions segment |
5.4 |
|
|
6.6 |
|
|
1.4 |
|
|
5.1 |
|
|
9.4 |
|
|
|
|
|
|
|
|
|
|
|
|||||
Industrial Solutions segment |
|
|
|
|
|
|
|
|
|
|||||
Industrial Filtration Solutions |
(0.1 |
) |
|
1.6 |
|
|
(2.5 |
) |
|
2.9 |
|
|
(10.1 |
) |
Aerospace and Defense |
26.0 |
|
|
41.0 |
|
|
(14.9 |
) |
|
9.1 |
|
|
N/A |
|
Total Industrial Solutions segment |
3.7 |
|
|
9.0 |
|
|
(4.1 |
) |
|
3.1 |
|
|
(10.1 |
) |
|
|
|
|
|
|
|
|
|
|
|||||
Life Sciences segment |
|
|
|
|
|
|
|
|
|
|||||
Total Life Sciences segment |
13.9 |
|
|
5.1 |
|
|
1.0 |
|
|
32.3 |
|
|
16.4 |
|
|
|
|
|
|
|
|
|
|
|
|||||
Total Company |
5.5 |
% |
|
7.4 |
% |
|
(0.3 |
)% |
|
9.1 |
% |
|
7.2 |
% |
Note: The constant currency presentation, which is a non-GAAP measure, excludes the impact of fluctuations in foreign currency exchange rates. The Company believes providing constant currency information provides valuable supplemental information regarding its results of operations. The Company calculates constant currency percentages by converting its current period local currency financial results using the prior period exchange rates and compares these adjusted amounts to its prior period reported results. Amounts may not foot due to rounding. |
||||||||||||||
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (In millions) (Unaudited) |
|||||||
|
Three Months Ended |
||||||
|
October 31, |
||||||
|
|
2024 |
|
|
|
2023 |
|
Net cash provided by operating activities |
$ |
72.9 |
|
|
$ |
138.0 |
|
Net capital expenditures |
|
(25.0 |
) |
|
|
(23.2 |
) |
Free cash flow |
$ |
47.9 |
|
|
$ |
114.8 |
|
|
|
|
|
||||
Net earnings |
$ |
99.0 |
|
|
$ |
92.1 |
|
Income taxes |
|
31.5 |
|
|
|
30.8 |
|
Interest expense |
|
5.5 |
|
|
|
5.5 |
|
Depreciation and amortization |
|
25.5 |
|
|
|
24.3 |
|
EBITDA |
$ |
161.5 |
|
|
$ |
152.7 |
|
|
|
|
|
||||
Adjusted net earnings |
$ |
101.5 |
|
|
$ |
92.1 |
|
Adjusted income taxes |
|
32.3 |
|
|
|
30.8 |
|
Interest expense |
|
5.5 |
|
|
|
5.5 |
|
Depreciation and amortization |
|
25.5 |
|
|
|
24.3 |
|
Adjusted EBITDA |
$ |
164.8 |
|
|
$ |
152.7 |
|
|
|
|
|
||||
Gross profit |
$ |
319.6 |
|
|
$ |
300.9 |
|
Restructuring and other charges |
|
1.1 |
|
|
|
— |
|
Adjusted gross profit |
$ |
320.7 |
|
|
$ |
300.9 |
|
|
|
|
|
||||
Operating expense |
$ |
188.8 |
|
|
$ |
176.3 |
|
Restructuring and other charges |
|
(2.2 |
) |
|
|
— |
|
Adjusted operating expense |
$ |
186.6 |
|
|
$ |
176.3 |
|
|
|
|
|
||||
Operating income |
$ |
130.8 |
|
|
$ |
124.6 |
|
Restructuring and other charges |
|
3.3 |
|
|
|
— |
|
Adjusted operating income |
$ |
134.1 |
|
|
$ |
124.6 |
|
|
|
|
|
||||
Net earnings |
$ |
99.0 |
|
|
$ |
92.1 |
|
Restructuring and other charges, net of tax |
|
2.5 |
|
|
|
— |
|
Adjusted net earnings |
$ |
101.5 |
|
|
$ |
92.1 |
|
|
|
|
|
||||
Diluted EPS |
$ |
0.81 |
|
|
$ |
0.75 |
|
Restructuring and other charges per share |
|
0.02 |
|
|
|
— |
|
Adjusted diluted EPS |
$ |
0.83 |
|
|
$ |
0.75 |
|
2025 Adjusted EPS Guidance
A reconciliation of the Company’s fiscal 2025 adjusted EPS guidance to fiscal 2025 GAAP EPS guidance is not included in this release due to the number of variables in the projected GAAP EPS range and the Company’s current inability to reasonably quantify certain amounts, such as restructuring or other charges, that would be included in the GAAP measure or the individual adjustments for such reconciliation.
Note: Although free cash flow, EBITDA, adjusted EBITDA, adjusted gross profit, adjusted operating expense, adjusted operating income, adjusted net earnings and adjusted diluted EPS are not measures of financial performance under GAAP, the Company believes they are useful in understanding its financial results. Free cash flow is a commonly used measure of a company’s ability to generate cash in excess of its operating needs. EBITDA is a commonly used measure of operating earnings less non-cash expenses. The adjusted basis presentation excludes the impact of certain matters not related to the Company’s ongoing operations. Management believes that the adjusted basis presentation reflects management’s performance in operating the Company and provides a meaningful representation of the performance of the Company’s core business and is useful to understanding its financial results. A shortcoming of these financial measures is that they do not reflect the Company’s actual results under GAAP. Management does not intend these items to be considered in isolation or as a substitute for the related GAAP measures. Amounts may not foot due to rounding.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241203084792/en/
Sarika Dhadwal (952) 887-3753
Sarika.Dhadwal@Donaldson.com
Source: Donaldson Company, Inc.
FAQ
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