Donaldson raises FY24 EPS view to $3.33-$3.39 from $3.24-$3.32, consensus $3.27

Sales are expected to increase between 4% and 6% year over year, with a pricing benefit of approximately 2% and a negligible impact from currency translation. FY24 revenue consensus $3.58B. Mobile sales are forecast to increase between 2% and 4% versus 2023. Off-Road sales and On-Road sales are expected to decrease low double-digits and low single-digits, respectively due to softening end-market demand and related reductions in global equipment production. Aftermarket sales are forecast to grow mid-single digits, benefitting from market share gains and destocking in the prior year period. Industrial sales are expected to increase between 6% and 8% compared with prior year. IFS sales are expected to increase mid-single digits as a result of sales momentum in dust collection and Power Generation. Aerospace and Defense sales, driven by strong end-market conditions, are expected to grow low double-digits. Life Sciences sales are forecast to grow mid-teens year over year supported by growth across all businesses including Food & Beverage, Bioprocessing Equipment and Consumables, and Disk Drive.