MINNEAPOLIS--(BUSINESS WIRE)--
Donaldson Company, Inc. (NYSE: DCI), a leading worldwide manufacturer of
filtration products and solutions, today will webcast its Investor Day
from the New York Stock Exchange. The event features presentations and
question and answer sessions with members of the Company’s executive
leadership team, including:
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Tod Carpenter, Chairman, President and Chief Executive Officer
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Michael Wynblatt, Vice President, Chief Technology Officer
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Rich Lewis, Senior Vice President, Global Operations
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Tom Scalf, Senior Vice President, Engine Products
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Jeff Spethmann, Senior Vice President, Industrial Products
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Scott Robinson, Senior Vice President, Chief Financial Officer
The team will provide an in-depth review of Donaldson’s strategic
priorities, including business segment performance, leadership through
innovation, operational excellence and its capital allocation framework.
Additionally, the Company is introducing long-range financial targets,
including a framework for profitable growth through fiscal 2021.
“We continue to make excellent progress on our strategic priorities
related to expanding our industry-leading technologies and solutions,
extending our market access and executing strategic acquisitions,” said
Tod Carpenter, chairman, president and chief executive officer. “We
expect that benefits from strong execution of these priorities,
supported by our technological innovations, deep customer relationships
and global presence, will allow us to continue delivering profitable
growth well into the future.”
Fiscal 2021 Financial Targets and Framework
Donaldson expects to achieve the following financial targets by the end
of fiscal 2021:
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Total fiscal 2021 sales between $3.0 billion and $3.3 billion,
reflecting an average annual growth rate of 3 to 7 percent in fiscal
years 2019 through 2021.
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Operating margin between 15.0 and 15.8 percent, compared with 13.81
percent in 2018.
The Company also expects to maintain its disciplined approach to capital
deployment, including investments in strategic growth priorities and
returning cash to shareholders through dividends and share repurchase.
1 Fiscal 2018 restated to reflect the adoption of the new
FASB pension accounting standard (ASU 2017-07) beginning in fiscal 2019.
Miscellaneous
The live webcast of Donaldson’s Investor Day will begin at 8:30 a.m. EDT
and conclude at approximately 12:30 p.m. The Investor Day presentations
and access to the webcast can be found in the “Events & Presentations”
section of Donaldson’s Investor Relations website at IR.Donaldson.com,
and a replay of the webcast can be found on this site following the
event.
Statements in this release regarding future events and expectations,
such as forecasts, plans, trends and projections relating to the
Company’s business and financial performance, are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, and are identified by words or phrases such as “will
likely result,” “are expected to,” “will continue,” “will allow,”
“estimate,” “project,” “believe,” “expect,” “anticipate,” “forecast,”
“plan,” and similar expressions. These forward-looking statements speak
only as of the date such statements are made and are subject to risks
and uncertainties that could cause the Company’s results to differ
materially from these statements. These factors include, but are not
limited to, economic and industrial market conditions worldwide; the
Company's ability to maintain certain competitive advantages; threats
from disruptive innovation; pricing pressures; the Company's ability to
protect and enforce its intellectual property rights; the difficulties
in operating globally; customer concentration in certain cyclical
industries; unavailable raw materials or material cost inflation;
inability of operations to meet customer demand; difficulties with
information technology systems and security; foreign currency
fluctuations; governmental laws and regulations; changes in tax laws and
regulations and results of examinations; the Company's ability to
attract and retain qualified personnel; changes in capital and credit
markets; execution of the Company's acquisition strategy; the
possibility of intangible asset impairment; the Company’s ability to
manage productivity improvements; unexpected events and the disruption
on operations; and the Company's ability to maintain an effective system
of internal control over financial reporting. These and other risks and
uncertainties are described in Item 1A of the Company’s Annual Report on
Form 10-K for the year ended July 31, 2018. The Company makes these
statements as of the date of this disclosure and undertakes no
obligation to update them unless otherwise required by law.
About Donaldson Company
Founded in 1915, Donaldson Company is a global leader in the filtration
industry with sales, manufacturing and distribution locations around the
world. Donaldson’s innovative technologies are designed to solve complex
filtration challenges and enhance customers’ equipment performance. For
more information, visit www.Donaldson.com.
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Brad Pogalz (952) 887-3753
Source: Donaldson Company, Inc.