How Donaldson (NYSE:DCI) stock is performing in 2023? - Kalkine Media

February 16, 2023 03:45 AM PST | By Raza Naqvi
Follow us on Google News:

Highlights

  • In January, DCI announced launching a new weld fume extractor.
  • In Q1 2023, Donaldson said it achieved GAAP net earnings of US$ 87.2 million.
  • During the trading session on Wednesday, February 15, the DCI share price was US$ 63.84 apiece.

One of the leading producers of replacement components and filtering systems, Donaldson Company Inc. (NYSE: DCI), is a Minneapolis-based company that provides services to a wide range of end markets, including truck, industrial, construction, mining, and agriculture. Also, engine products and industrial items make up its two main segments.

What's the latest news with DCI?

In January, DCI announced launching a new weld fume extractor that will enable fabricators to weld in various workstation setups. Todd Smith, the Vice President of Global Industrial Air Filtration, said that a difficult issue can be resolved through the new extractor and that effective weld fume extraction can be done without ductwork or hoods.

Meanwhile, in the same month, it also announced the launch of managed filtration services. In a statement, the company said Donaldson's Managed Filtration Services uses a unique connected technology and a large service network to deliver the condition-based maintenance and repair services necessary to keep industrial filtration equipment operating.

A look at DCI's latest financials

In the first quarter of fiscal 2023, Donaldson said it achieved GAAP net earnings of US$ 87.2 million, reflecting an increase of 13.1 per cent year-over-year (YoY). In Q1 2022, the GAAP net earnings of the company stood at US$ 77.1 million.

The GAAP and adjusted earnings per share (EPS) increased to US$ 0.7 and US$ 0.75 in Q1 2023 from US$ 0.61 in the same period of the previous fiscal year.

©2023 Krish Capital Pty. Ltd

Notably, the sales of DCI jumped to US$ 847.3 million in Q1 2023 from US$ 760.9 million in Q1 2022. The company's gross margin was 33.9 per cent in Q1 FY23, up by 10 basis points from Q1 FY22.

For the full-year fiscal 2023, Donaldson expects its GAAP EPS to be between US$ 2.86 and US$ 3.02. Also, it expects its sales to grow between one to five per cent over the previous fiscal year.

Bottom line

On Wednesday, February 15, the DCI share price was US$ 63.84 per share and ended the day higher by 0.45 per cent from the previous trading session.

In the last 30 days, the DCI stock price surged by 2.39 per cent and gained 7.97 per cent in terms of year-to-date (YTD) performance.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.



Top Listed Companies