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Mobile sales are forecast to increase between 1% and 5% year over year. Continued end-market demand driven by elevated levels of global equipment production is expected to drive low-single digit growth in Off-Road and On-Road sales. Aftermarket sales are projected to increase mid-single digits as a result of higher vehicle utilization rates and market share gains.
Industrial sales are expected to grow between 3% and 7% versus 2023. IFS sales are forecast to increase mid-single digits with strength across most businesses, including dust collection and industrial services. Aerospace and Defense sales are projected to decrease low-single digits after cycling difficult comparisons in 2023.
Life Sciences sales are forecast to grow approximately 20% compared with prior year benefitting from an increase in sales in all businesses including Food & Beverage, Bioprocessing Equipment and Consumables, and Disk Drive.
Operating margin is forecast to be between 14.7% and 15.3% versus 14.0%, or 14.6% on an adjusted basis, in 2023 driven by increasing gross margin, partially offset by investments in the Life Sciences segment.
Interest expense is projected to be approximately $25 million and other income is expected to be between $7 million and $11 million. Donaldson expects a fiscal 2024 effective income tax rate of between 24 and 26%.
Capital expenditures are forecast to be between $95 million and $115 million and free cash flow conversion is projected to be between 95% and 105%. For the full year, Donaldson expects to repurchase approximately 2% of its shares outstanding.
Posted In: DCI
