Donaldson reported first-quarter 2016 sales of $538.5 compared to $596.5 million in 2015, a 9.8 percent decrease. This drop in sales includes a negative impact from foreign currency translation of 6.3 percent.
Excluding the impact of currency translation, 2016 first quarter sales decreased 3.6 percent, primarily due to a 5.4 percent decline in Engine Products.
Donaldson now expects 2016 adjusted earnings between $1.49 and $1.69 a share, compared with its prior guidance of $1.57 to $1.77. Sales are estimated between $2.2 billion and $2.3 billion, or 3 percent to 7 percent below last year.
Donaldson reported a profit of $38.5 million, or 29 cents a share, down from $55.9 million, or 40 cents a share, a year earlier.