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Donaldson Company Inc. (DCI) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net sales to $900.1 million from $846.3 million in the same quarter the previous year. This growth was driven by higher sales in the Mobile Solutions, Industrial Solutions, and Life Sciences segments.
Gross profit for the quarter was $319.6 million, compared to $300.9 million in the previous year. The gross margin slightly decreased to 35.5% from 35.6% due to restructuring expenses.
Selling, general, and administrative expenses increased to $166.1 million from $155.0 million, primarily due to restructuring expenses.
Research and development expenses were $22.7 million, consistent with the previous year's $21.3 million.
Operating income for the quarter was $130.8 million, up from $124.6 million in the prior year.
Net earnings for the quarter were $99.0 million, compared to $92.1 million in the previous year. Diluted earnings per share increased to $0.81 from $0.75.
Cash provided by operating activities was $72.9 million, a decrease from $138.0 million in the previous year, due to increased working capital requirements.
Cash used in investing activities was $96.0 million, up from $23.2 million, primarily due to an equity method investment in Medica.
Cash provided by financing activities was $9.8 million, compared to cash used of $78.9 million in the previous year, driven by changes in debt repayment.
Donaldson's balance sheet showed total assets of $3,043.6 million, with total liabilities of $1,500.6 million and stockholders' equity of $1,543.0 million as of October 31, 2024.
The company continues to focus on strategic growth initiatives and optimizing its global footprint.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Donaldson Company Inc. quarterly 10-Q report dated December 6, 2024. To report an error, please email earnings@qz.com.