Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Donaldson Profit Falls Slightly in Most Recent Quarter

Donaldson released financial results for its fiscal second quarter ending at the close of January, showing a 14% drop in net earnings despite a small uptick in sales.

Evan Lockridge
Evan LockridgeFormer Business Contributing Editor
February 24, 2015
3 min to read


Donaldson Co. Inc. on Tuesday released financial results for its fiscal second quarter ending at the close of January, showing a 14% drop in net earnings despite a small uptick in sales.

Net earnings for the filtration provider to trucking and other industries totaled $50 million compared to $58 million the same time a year earlier, or 35 cents per diluted share compared to 39 cents per diluted share.

Ad Loading...

Net sales increased to $597 million from $582 million during the same time frame.

When the past six months are compared to a year earlier, net sales increased 1% while net earnings fell 13%. In fiscal 2014, Donaldson reported sales of $2.5 billion and record earnings per share.

The company said much of the decline in net earnings was due to a strengthened U.S. dollar, payments to its U.S. pension plan and a favorable settlement from a tax audit a year earlier.

Ad Loading...

“Overall, the currency headwinds were significant in the quarter and decreased our reported sales by $28 million compared to the prior year," said CEO Bill Cook. “We achieved solid constant currency sales growth of 7% in the quarter.”

He said Donaldson expects global economic conditions to improve only slightly over the next year. “In addition to the negative impact of the stronger U.S. dollar, the slow growth of the global economy combined with ongoing weak commodity prices is projected to have a negative impact on most of our OEM customers' sales, and as a result, ours.”

Overall the company now expects full-year sales to be flat to down 3%, which should result in fiscal 2015 diluted EPS of between $1.65 and $1.85 per share, excluding restructuring and pension lump sum settlement expenses.

"Since current conditions in many of our end markets remain weak, we will implement additional productivity improvement and restructuring actions during the balance of this fiscal year,” Cook said. “This will allow us to continue to invest in our key growth initiatives as we execute our plan to grow to $5 billion in revenues by Fiscal 2021."

For the 2015 fiscal year, Donaldson is projecting overall sales to be between $2.40 billion and $2.50 billion.

Ad Loading...

In its engine products division, it is forecasting sales growth to be down as much as 3%, due to foreign currency translation. In local currency, sales are forecasted to increase 1% to 5%.

Donaldson said its on-road OEM customers are expecting to increase production of heavy- and medium-duty trucks in 2015, while demand from off-road OEM customers is anticipated to be mixed, but it is anticipating continued strong growth for its engine aftermarket business globally.

As for the company’s industrial products division, it is forecasting sales to increase as much as 3%, including the impact of foreign currency translation. In local currency, sales are forecasted to increase 5% to 8%. Filtration sales are projected to be down as much as 4%, due mainly to currency headwinds.

More Equipment

photo of a military truck with "Great American Trucks" wording on top of red-white-and-blue background.
Equipmentby Jack RobertsJune 16, 2026

Great American Trucks: The International MaxxPro MRAP

Built from an International WorkStar chassis and powered by a MaxxForce diesel, the MaxxPro MRAP became one of the most important military trucks of the Iraq War era.

Read More →
2026 Mack Granite interior.
Equipmentby News/Media ReleaseJune 11, 2026

New Mack Granite Cab Puts Driver Comfort Front and Center

Mack’s next-generation vocational truck features a roomier cab, premium seating, advanced steering technology, and a driver-focused interior designed with direct input from professional operators.

Read More →
Mack Trucks Pioneer Nascar Salutes truck.
Equipmentby News/Media ReleaseJune 11, 2026

Mack Unveils Fan-Selected Patriotic NASCAR Pioneer Wraps

Racing fans picked the patriotic design now featured on three Mack Pioneer trucks hauling NASCAR equipment across the country during the 2026 season.

Read More →
Ad Loading...
Michelin X Line Grip D tires.
Equipmentby News/Media ReleaseJune 9, 2026

Michelin Expands X Line Grip D Tire Line

Michelin is expanding its X Line Grip D drive tire lineup with a new pre-mold retread and additional sizes, building on what the company says is strong fleet adoption of the tire's traction, mileage, and fuel-efficiency benefits.

Read More →
Illustration of SCR/DEF system on heavy-duty truck
Equipmentby News/Media ReleaseJune 4, 2026

Engine Technology Forum Launches SCR, DEF Resource Center Amid Emissions Debate

The Engine Technology Forum’s new online hub aims to provide fleets, policymakers, and equipment owners with fact-based information about selective catalytic reduction technology, diesel exhaust fluid and emissions compliance.

Read More →
Artist rendering of dealership with trucks and trailers parked outside
Equipmentby News/Media ReleaseJune 2, 2026

Prime Inc. to Open $7.9M Flagship Used-Truck Dealership

A new driver-focused facility to sell Prime Inc's used trucks and trailers will be the first purpose-built location in the company's history.

Read More →
Ad Loading...
Red Kenworth truck pulling Paper Transport trailer
Fuel Smartsby Deborah LockridgeJune 2, 2026

Lessons Learned About Alternative Fuels: Start Small, Stay Flexible

Practical advice on adopting alternative fuels and ZEVs from HDT's 2026 Top Green Fleets, from renewable diesel and natural gas to electric trucks.

Read More →
Kenworth T680.
Equipmentby News/Media ReleaseMay 27, 2026

Kenworth Names Peter Ahrens General Manager

Leadership changes at Kenworth take effect July 1 as the OEM promotes two longtime Paccar executives to key management roles.

Read More →
White Hino Le electric tractor on show floor
Equipmentby News/Media ReleaseMay 26, 2026

Hino Adds Electric Class 6/7 Truck

Hino says the Le Series is an important step in the company's efforts to reduce environmental impact and support its customers’ sustainability goals.

Read More →
Ad Loading...
Big standing "ACTExpo" sign in convention center lobby
Equipmentby Deborah LockridgeMay 26, 2026

ACT Expo 2026: Highlights in Photos

The 2026 Advanced Clean Transportation Expo featured a broad range of commercial vehicle technologies, from EVs to autonomous trucks to the latest diesel and alternative-fuel engines.

Read More →