Sees FY23 revenue up 1%-5% vs. last year, driven by a 6% increase in pricing and a negative impact from currency translation of approximately 5%. Sees FY23 GAAP EPS $2.86-$3.02, inclusive of 5c of Q1restructuring and related charges. Adjusted EPS is forecast between $2.91 and $3.07. Tod Carpenter, chairman, president and CEO said, "For the full year, we continue to forecast record sales and earnings as benefits from strong end-market demand, pricing pull through and pockets of inflationary leveling are balanced by currency headwinds and an uncertain macroeconomic environment. I am confident our execution and investments this year will support our commitment to our customers and shareholders well beyond fiscal 2023." Sees FY23 Engine sales up 1%-5% compared with 2022, driven by Aftermarket and Aerospace and Defense sales strength with both business units forecast to be up mid-single digits. On-Road and Off-Road sales are expected to be approximately flat versus the prior year. Sees FY23 Industrial sales up 1%-5% compared with 2022. IFS sales are forecast to increase high-single digits, GTS is projected to grow low-single digits, and Special Applications sales for the full year are projected to be down mid-teens due to incremental Disk Drive sales weakness. Sees FY23 operating margin 14.3%-14.9% and adjusted operating margin 14.5% and 15.1%. Prior year GAAP and adjusted operating margin were 13.4% and 13.5%, respectively. Sees FY23 interest expense $18M, and other income $6M-$10M; effective income tax rate 25%-27%; capital expenditures $115 M-$135M and free cash flow conversion 110%-125%; Donaldson expects to repurchase approximately 2% of its shares outstanding in FY23.
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