Donaldson Raises FY24 EPS Forecast From $3.14-$3.30 To $3.24-$3.32, Est $3.18; Sales To Increase 3%-7% Year Over Year
Portfolio Pulse from Benzinga Newsdesk
Donaldson Company, Inc. (DCI) has updated its FY24 earnings per share (EPS) forecast to $3.24-$3.32 from the previous range of $3.14-$3.30, surpassing the estimated $3.18. The company also expects sales to grow by 3%-7% year over year. Additionally, Donaldson anticipates an improvement in its operating margin to 15.0%-15.4%, up from the earlier guidance of 14.7%-15.3% and compared to 14.0%, or 14.6% on an adjusted basis, in 2023.
February 28, 2024 | 11:20 am
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Donaldson Company, Inc. (DCI) raises its FY24 EPS forecast to $3.24-$3.32, exceeding analyst expectations. Sales are expected to grow by 3%-7% YOY, and operating margin is anticipated to improve to 15.0%-15.4%.
Raising the EPS forecast above analyst expectations generally signals confidence in the company's financial health and operational efficiency, likely leading to positive investor sentiment. The anticipated sales growth and improved operating margin further reinforce the positive outlook for DCI, suggesting a potential uptick in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100