Filtration specialist Donaldson Company reported record second quarter results. For the three-month period ended January 31, sales increased 8% to $581 million while income rose 11% to $75 million.
“We are pleased to reach the midpoint of our year with another strong performance as we established second quarter records in sales, operating margin and EPS,” says Bill Cook, chairman, president and CEO. “Sales in our Engine Proucts segment increased 12% as new equipment build rates at our global off-road and on-road OEM customers remained healthy. Within our Industrial Products segment, sales of our Torit dust collectors were strong this quarter.”
Expecting the full year to grow 7-12%, Donaldson executives report strength in the Americas, stability in Europe and improvements in China.