UPDATE: Donaldson Posts Upbeat Q3 Profit, Lifts Full-Year Forecast

Donaldson Co Inc

reported a stronger-than-expected third-quarter profit and lifted its full-year earnings view. Donaldson projects a full-year profit of $1.66 to $1.76 per share, versus its earlier forecast of $1.63 to $1.73 per share. It expects full-year sales of $2.50 billion, versus its earlier forecast of $2.45 to $2.55 billion. Donaldson's quarterly net income climbed to $70.9 million, or $0.46 per share, versus $61.8 million, or $0.39 per share, in the year-earlier period. Its sales climbed 9% to $647.2 million. Analysts were expecting earnings of $0.43 per share on revenue of $649.88 million. DCI shares closed at $32.54 yesterday.