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Donaldson Co Inc DCI

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Morningstar’s Analysis

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Donaldson Posts Solid Fiscal Q2 Results and Initiates Full-Year Fiscal 2021 Guidance; Raising FVE

Analyst Note

| Krzysztof Smalec, CFA |

Narrow-moat-rated Donaldson delivered solid fiscal second-quarter 2021 results, as its adjusted EPS of $0.52 beat the FactSet consensus estimate by a penny. Furthermore, management initiated guidance for full-year fiscal 2021 that came in above our expectations, as the company is well positioned to deliver strong growth in the second half of the year as its end markets recover. After adjusting our near-term projections, we’ve raised our fair value estimate for Donaldson to $52 from $49.

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Company Profile

Business Description

Donaldson is a leading manufacturer of filtration systems and replacement parts (including air filtration systems, liquid filtration systems, and dust, fume, and mist collectors). The company serves a diverse range of end markets, including construction, mining, agriculture, truck, and industrial. Its business is organized into two segments: engine products and industrial products. Donaldson generated approximately $2.6 billion in revenue and $340 million in operating income in its fiscal 2020.

1400 West 94th Street
Minneapolis, MN, 55431
T +1 952 887-3131
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Jan 31, 2021
Fiscal Year End Jul 31, 2021
Stock Type Cyclical
Employees 12,400