Donaldson Company, Inc. · DCI · FY2025 Q3 · Calendar Q2 2025
Donaldson posts record sales as margins expand despite tariff risks
Donaldson's record sales, recurring aftermarket demand, pricing, and margin expansion support a constructive near-term operating picture. The thesis is conditional because bioprocessing weakness, tariff exposure, equipment-market softness, and footprint-optimization costs remain material offsets.
Earnings scorecard
Reported versus consensusMarket reaction
prior-close to event-session closeAsk FN2 about DCI FY2025 Q3
Transcript, numbers and history already loadedFree account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The quarter added evidence of record sales, continued operating-margin expansion, a raised EPS outlook, lower capex guidance, and a new manufacturing-grade Isotag AAV offering. Management also disclosed a $62 million impairment tied to upstream bioprocessing assets and cited ongoing tariff and market risks.
Guidance delta
Management raised EPS guidance while maintaining its full-year outlook; capex guidance was lowered to $75–90 million.
Key takeaways
- Record sales and adjusted earnings were supported by recurring aftermarket revenue, pricing, and operating-margin expansion.
- Management reported an operating-margin target of 15.6%–16.0% for FY2025 and highlighted aerospace, defense, connected services, and industrial hydraulics.
- Bioprocessing remains a headwind, while new manufacturing-grade Isotag AAV and the EasyFlow acquisition support longer-term initiatives.
Management priorities
- Expand connected filtration services and next-generation controllers and gateways
- Scale manufacturing-grade Isotag AAV and pursue targeted product and capacity investments
- Continue strategic acquisitions, dividend growth, and share repurchases
Follow DCI with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 17, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Sep 29, 2026 |
| Baird | Outperform | Outperform | Maintain | Aug 27, 2026 |
| Stifel | Hold | Hold | Maintain | Jun 4, 2026 |
| Jefferies | Buy | Buy | Maintain | Feb 3, 2026 |
| Stifel Nicolaus | Hold | Hold | Maintain | Sep 14, 2018 |
| Edward Jones | Buy | Hold | Upgrade | Mar 29, 2018 |
| Gabelli & Co. | Buy | Neutral | Upgrade | Mar 7, 2018 |
| CL King | Buy | Buy | Maintain | Jun 8, 2016 |
| Avondale Partners | Market Perform | Market Perform | Maintain | Mar 21, 2016 |
| SunTrust Robinson Humphrey | Neutral | Neutral | Maintain | Nov 3, 2015 |
| Bank of America | Underperform | Buy | Downgrade | Oct 29, 2013 |
| B of A Securities | Underperform | Buy | Downgrade | Oct 29, 2013 |
| BMO Capital | Underperform | Market Perform | Downgrade | Jul 31, 2013 |
| Oppenheimer | Perform | Perform | Maintain | Oct 19, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $87.97. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $95 | $87.78 | +8.0% | Sep 29, 2026 |
| Stifel Nicolaus | Analyst unavailable | $95 | $91.55 | +8.0% | Aug 28, 2026 |
| Robert W. Baird | Analyst unavailable | $105 | $93.97 | +19.4% | Aug 19, 2026 |
| Stifel Nicolaus | Analyst unavailable | $91 | $85.24 | +3.4% | Jun 4, 2026 |
| Wells Fargo | Analyst unavailable | $91 | $85.24 | +3.4% | Jun 4, 2026 |
| Morgan Stanley | Angel Castillo | $91 | $88.95 | +3.4% | Mar 9, 2026 |
| UBS | Analyst unavailable | $96 | $106.96 | +9.1% | Feb 24, 2026 |
| Jefferies | Analyst unavailable | $123 | $101.13 | +39.8% | Feb 2, 2026 |
| Robert W. Baird | Analyst unavailable | $110 | $101.77 | +25.0% | Feb 2, 2026 |
| Jefferies | Analyst unavailable | $120 | $93.02 | +36.4% | Jan 9, 2026 |
| Robert W. Baird | Analyst unavailable | $100 | $94.16 | +13.7% | Dec 5, 2025 |
| Stifel Nicolaus | Adam Farley | $96 | $94.16 | +9.1% | Dec 5, 2025 |
| Robert W. Baird | Analyst unavailable | $96 | $88.16 | +9.1% | Dec 3, 2025 |
| Morgan Stanley | Analyst unavailable | $84 | $88.53 | -4.5% | Nov 24, 2025 |
| Stifel Nicolaus | Adam Farley | $90 | $87.68 | +2.3% | Nov 24, 2025 |
| Robert W. Baird | Analyst unavailable | $85 | $79.67 | -3.4% | Aug 29, 2025 |
| Stifel Nicolaus | Analyst unavailable | $84 | $80.12 | -4.5% | Aug 28, 2025 |
| Stifel Nicolaus | Nathan Jones | $63 | $63.4 | -28.4% | Apr 14, 2025 |
| Robert W. Baird | Richard Eastman | $81 | $77.74 | -7.9% | Dec 2, 2024 |
| Jefferies | Laurence Alexander | $81 | $72.59 | -7.9% | Jun 4, 2024 |
| Robert W. Baird | Richard Eastman | $79 | $73.68 | -10.2% | Jun 3, 2024 |
| Morgan Stanley | Angel Castillo | $62 | $72.46 | -29.5% | Apr 15, 2024 |
| Robert W. Baird | Richard Eastman | $80 | $74.17 | -9.1% | Apr 11, 2024 |
| Morgan Stanley | Analyst unavailable | $66 | $60.75 | -25.0% | Dec 1, 2022 |
| Stifel Nicolaus | Nathan Jones | $51 | $48.71 | -42.0% | Jul 18, 2022 |
Track every rating change on DCI the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationDonaldson Company, Inc. (DCI) is a global enterprise that develops, manufactures, and distributes an extensive range of filtration systems and their corresponding replacement parts. The company's operations are strategically divided into two core business units: Engine Products and Industrial Products. The Engine Products division provides a variety of solutions, including replacement filters for both air and liquid filtration needs, comprehensive air filtration systems, and specialized liquid filtration systems designed for fuel, lubrication, and hydraulic applications. This segment also offers exhaust and emissions control technologies, alongside a suite of sensors, indicators, and monitoring systems. Its clientele primarily consists of Original Equipment Manufacturers (OEMs) within the construction, mining, agriculture, aerospace, defense, and transportation industries.…
Historical context
All DCI earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| JBHT J.B. Hunt Transport Services, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.6% | -2.0% | J.B. Hunt: Strong demand, but margin repair remains central |
| FAST Fastenal Company | FY2026 Q3 · Calendar Q4 2026 | +3.3% | +1.1% | Fastenal Q3: Share Gains and Digital Adoption Lift Growth |
Latest beats and misses
Who reports nextBeat on EPS
Get the DCI recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-17T20:30:41.852804+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-17T20:30:41.850081+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-17. For educational purposes only; not investment advice.