Fri, Sep 27, 6:27 PM (84 days ago)
Donaldson Company, Inc. reported a solid financial performance for the fiscal year ending July 31, 2024. Net sales increased by 4.5% to $3,586.3 million, driven by growth across all segments: Mobile Solutions (up 3.5%), Industrial Solutions (5.1%), and Life Sciences (11.5%). Gross profit margin improved to 35.5% from 33.8% due to lower input costs and favorable pricing. Operating income rose 13.3% to $544.1 million, while net earnings increased by 15.4% to $414.0 million, translating to diluted earnings per share of $3.38, up from $2.90. The company emphasized strategic priorities, including expanding market access and pursuing acquisitions in high-margin areas. However, risks such as supply chain disruptions and global economic conditions remain. Significant investments in R&D totaled $93.6 million, reflecting a commitment to innovation. Donaldson maintained a strong liquidity position with $232.7 million in cash and $593 million in available credit, supporting future growth and capital expenditures projected between $85 million to $105 million. The company's debt-to-capitalization ratio decreased to 26.5%, indicating improved financial stability.