Donaldson Company, Inc announced third quarter 2018 net earnings of $69.9 million, compared with net earnings of $60.1 million in the previous year. Third quarter GAAP earnings per share increased 17.8 per cent to $0.53 in 2018 from $0.45 in 2017.
“We are pleased to have delivered another quarter of strong sales growth in both segments, reflecting benefits from consistent execution of our strategic priorities combined with favourable market conditions,” said Tod Carpenter, Chairman, President and Chief Executive Officer. “Based on incremental strength across our company, particularly in our Engine first-fit and Industrial businesses, and continued momentum in many of our end markets, we now forecast full-year sales to increase about 15 per cent and adjusted EPS to be up 17 to 19 per cent.
“As we close the year, our strategic agenda is unchanged: invest in our customers, technology innovation, e-commerce and capacity expansion. Additionally, we are addressing the inflationary and demand-related pressures that have been affecting our margin. We made progress last quarter by implementing further cost-cutting initiatives and global price increases, and we view this work as ongoing. Our employees are showing tremendous commitment to enhancing our operating margin while executing our strategic priorities, and I am confident that their efforts position us well to deliver our financial and strategic targets this year and into the future.”