ADVERTISEMENT

Donaldson's 4Q profit was flat but above expectations

  • August 27, 2014 - 9:36 PM

Donaldson Co. Inc.’s fourth-quarter profit exceeded expectations, and the company raised its outlook for the new fiscal year.

The Bloomington-based maker of filtration systems said Wednesday it earned $73 million, or 51 cents a share, in the three months ended July 31. That’s up slightly from $72.6 million in the year-ago period. Analysts had expected the company to report a profit of 47 cents a share.

Revenue was $668 million, up 6 percent from a year ago.

Executives said they expect that pace of growth to continue in the new fiscal year. After sales grew 2 percent for the just-finished year, Donaldson executives said they expect growth in the 4 to 8 percent range for the new one.

In the latest period, Donaldson said filter sales grew at double-digit rates in both its big segments, engine and industrial. Donaldson noted a 9 percent decline in gas turbine shipments.

The company’s stock rose 2.5 percent.

Evan Ramstad

© 2014 Star Tribune