RTTNews | Sep 2, 2021 07:19AM EDT

07:19 Thursday, September 2, 2021 (RTTNews.com) - While reporting financial results for the fourth quarter on Thursday, Donaldson Co. Inc. (DCI) initiated its earnings and sales growth guidance for the full-year 2022.

For fiscal 2022, Donaldson now projects earnings in a range of $2.50 to $2.66 per share and adjusted earnings in a range of $2.24 to $2.32 per share on net sales growth of 5 to 10 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.68 per share on sales growth of 9.3 percent to $3.12 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company reported net earnings of $84.3 million or $0.66 per share from $64.2 million or $0.50 per share in the prior-year quarter.

Net sales for the quarter increased 25.2 percent to $773.1 million from $617.4 million in the same quarter last year. Sales increased 20.9 percent at constant currency rates.

The Street was looking for earnings of $0.66 per share on net sales of $770.69 million for the quarter.

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