Donaldson Company, Inc. Announces Executive Changes, Effective August 1, 2015
Jun 25 15
Donaldson Company, Inc. announced that Joseph E. Lehman, Vice President, Global Operations, will retire on August 1, 2015. Lehman, 60, joined Donaldson in 1984 as a Financial Analyst and then held a number of key management roles in Finance, Operations, Information Technology and business unit management. He was promoted to Vice President, Global Operations in 2010. Lehman was also Vice President, Global Engine Aftermarket from 2007 to 2009. With Lehman’s retirement, Richard B. Lewis will become Vice President, Global Operations, effective August 1, 2015. Lewis, 43, is currently General Manager, Operations. Lewis joined Donaldson in 2002. During his first eight years, Lewis worked in Operations, including line management, plant management in two facilities (Frankfort, IN and Nicholasville, KY) and Director-level leadership. Lewis also served in business unit management as General Manager, Liquid Products from 2010-2014. Prior to joining Donaldson, Lewis held operations and quality management positions with Ventra Corporation and Seleco Inc.
Donaldson Company, Inc. Presents at Stifel Industrials Conference 2015, Jun-16-2015 10:55 AM
Jun 11 15
Donaldson Company, Inc. Presents at Stifel Industrials Conference 2015, Jun-16-2015 10:55 AM. Venue: The New York Palace Hotel, 455 Madison Ave., New York, NY 10022, United States. Speakers: Brad Pogalz, Director of Investor Relations, James F. Shaw, Chief Financial Officer and Vice President.
Donaldson Company, Inc. Presents at William Blair’s 35th Annual Growth Stock Conference, Jun-11-2015 10:40 AM
Jun 9 15
Donaldson Company, Inc. Presents at William Blair’s 35th Annual Growth Stock Conference, Jun-11-2015 10:40 AM. Venue: Four Seasons Hotel, Chicago, Illinois, United States. Speakers: Tod E. Carpenter, Chief Executive Officer, President and Director.
Donaldson Company, Inc. Declares Quarterly Cash Dividend, Payable on July 2, 2015
May 29 15
The board of directors of Donaldson Company, Inc. declared a quarterly cash dividend of 17 cents per share, an increase of 3% from the previous quarterly cash dividend of 16.5 cents. The dividend is payable on July 2, 2015, to Shareholders of record as of June 16, 2015.
Donaldson Company, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended April 30, 2015; Provides Earnings Guidance for the Full Year of 2015
May 21 15
Donaldson Company, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended April 30, 2015. For the quarter, net sales were $568,013,000 against $624,234,000 a year ago. Operating income was $64,989,000 against $92,734,000 a year ago. Earnings before income taxes were $65,722,000 against $94,182,000 a year ago. Net earnings were $46,372,000 against $67,336,000 a year ago. Net earnings per share were $0.34 against $0.46 a year ago. EBITDA was $87,692,000 against $113,634,000 a year ago. Adjusted operating income was $70,143,000 against $92,936,000 a year ago. Adjusted net earnings were $49,893,000 against $67,496,000 a year ago. Adjusted diluted EPS was $0.36 against $0.46 a year ago. Third quarter capital expenditures were roughly $22 million.
For the nine months, net sales were $1,761,467,000 against $1,805,240,000 a year ago. Operating income was $210,187,000 against $256,589,000 a year ago. Earnings before income taxes were $210,816,000 against $259,851,000 a year ago. Net earnings were $151,849,000 against $187,268,000 a year ago. Net earnings per share were $1.10 against $1.28 a year ago. Net cash provided by operating activities was $161,367,000 against $230,106,000 a year ago. Net expenditures on property and equipment were $72,601,000 against $66,046,000 a year ago. EBITDA was $277,427,000 against $317,083,000 a year ago. Adjusted operating income was $219,928,000 against $259,023,000 a year ago. Adjusted net earnings were $158,214,000 against $182,897,000 a year ago. Adjusted diluted EPS was $1.13 against $1.23 a year ago.
The company expects full-year sales to be approximately $2.35 billion, and adjusted EPS to be in the range of $1.53 to $1.59. The company expects full-year sales to decline by approximately 5% compared with last year, which includes a fourth quarter decrease of 10% to 12%. In local currencies, full-year sales are expected to increase approximately 1% from 2014. Adjusted operating margin for fiscal 2015 is expected to be in the range of 12.7% to 12.9%, reflecting year-to-date results combined with an expected operating margin in fourth quarter of 13.5% and 14.1%. Full-year effective tax rate is expected to be between 27% and 29%. Adjusted full-year diluted EPS guidance of $1.53 to $1.59 reflects year-to-date performance combined with fourth quarter adjusted EPS of 38 cents to 44 cents. Excluding the impact from future restructuring actions, fourth quarter and full-year GAAP diluted EPS are expected to be lower than adjusted EPS by approximately 1 cent and 6 cents, respectively, driven by: Pre-tax restructuring charges of approximately $8.0 million, or 4 cents per share, including an expected charge of $2.2 million in fourth quarter, and a pre-tax charge in second quarter of $3.9 million, or 2 cents per share, resulting from a U.S. pension settlement. For fiscal year 2015, the company expects full year cash flow from operating activities to be $250 million to $275 million, and that, with forecasted CapEx, the company expects to generate $155 million to $180 million of free cash flow the year 2015.