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The Zacks Consensus Estimate for DOV’s second-quarter revenues is pegged at $2.15 billion, indicating 2.2% growth from the year-ago reported figure.
The consensus estimate for earnings is pegged at $2.21 per share. The Zacks Consensus Estimate for DOV’s second-quarter earnings has moved down 0.5% in the past 60 days. The estimate indicates year-over-year growth of 7.8%.
Image Source: Zacks Investment Research
Earnings Surprise History
Dover has an average earnings surprise of -0.78%.
Image Source: Zacks Investment Research
What the Zacks Model Unveils
Our model predicts an earnings beat for Dover this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is precisely the case here, as you can see below.
You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Earnings ESP: Dover has an Earnings ESP of +0.51%.
Zacks Rank: DOV currently carries a Zacks Rank of 2.
Factors Likely to Have Shaped Q2 Performance
DOV has been witnessing robust bookings across its segments on strong demand and shipment levels, which are likely to have benefited its second-quarter performance. Gains from the recent acquisitions are also likely to have contributed to Dover’s performance in the to-be-reported quarter.
The company’s margins have been gaining from a robust volume, an improved price-cost spread and tight cost controls for a while, offsetting the negative impacts of supply-chain constraints, input inflation and production disruptions. These are likely to have driven DOV’s profitability in the quarter under review.
Segment Estimates
In the Engineered Products segment, the demand for engineered products, vehicle service and industrial automation has been strong, which is expected to get reflected in the June-end quarter’s top-line results. We expect organic sales to have a positive impact of 3.5%. Our model predicts currency translation to have a favorable impact of 0.1% on the segment’s sales.
Our estimate for the segment’s second-quarter 2024 revenues is pegged at $491 million, suggesting growth of 3.6% from the prior-year quarter’s actual. The estimate for the segment’s adjusted EBITDA is pegged at $111 million.
The Clean Energy and Fueling Solutions segment is likely to have gained from growth in below-ground, fuel transport, vehicle wash and industrial gasses in the quarter under review. The gains will offset the impacts of subdued demand for above-ground fueling due to customer construction delays in Europe/Asia. We expect the segment’s revenues to be $448 million for the quarter to be reported, suggesting growth of 1.6% from the year-earlier actual.
The estimate for the segment’s adjusted EBITDA is pegged at $83.9 million. We expect the favorable impacts of currency translation to weigh 0.7% year over year on the segment’s results.
The Imaging & Identification segment's results are expected to reflect strong demand for marking and coding printers, and spares, as well as continued strength in consumables. We anticipate organic sales of the segment to grow 0.9% year over year in the quarter. Our prediction for the segment’s revenues is pinned at $279 million, suggesting a rise from the $272 million reported in the prior-year quarter. We project the segment’s adjusted EBITDA to be $78 million.
Dover’s Pumps & Process Solutions segment has been facing softness in the biopharma business. However, the recent acquisition of FW Murphy is likely to have boosted the segment’s performance in the to-be-reported quarter. Our model predicts year-over-year growth of 0.4% for the segment’s organic sales. We expect currency translation to have a year-over-year positive impact of 1.8% in the quarter.
We anticipate the segment’s revenues to increase 8.7% year over year to $506 million. The consensus mark for the segment’s second-quarter adjusted EBITDA is pegged at $160 million.
In the Climate and Sustainability Technologies segment, strong order rates in the food retail business and large backlogs are likely to have aided the segment’s second-quarter performance. Margins are anticipated to have gained on higher volumes. However, increased costs and the impacts of currency translations are expected to have partially offset the tailwind. We anticipate the segment’s organic sales to fall 2.3% year over year in the to-be-reported quarter. However, our model predicts currency translation to have a year-over-year positive impact of 1% on the segment’s top line.
We expect the segment’s quarterly revenues to be at $442 million, implying a 1.5% fall from the year-earlier reported figure. The estimate for the segment’s adjusted EBITDA is pegged at $89.9 million.
Price Performance
Dover’s shares have gained 28% in the past year compared with the industry’s growth of 24%.
Image Source: Zacks Investment Research
Other Stocks That Warrant a Look
Here are some other companies with the right combination of elements to post an earnings beat in their upcoming releases.
The Zacks Consensus Estimate for CR’s earnings is pegged at $1.24 per share, which indicates year-over-year growth of 12.7%. It has a trailing four-quarter average surprise of 15.2%.
Ingersoll Rand Inc. (IR - Free Report) , scheduled to release its second-quarter 2024 on Jul 31, has an Earnings ESP of +1.62% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for Ingersoll Rand’s second-quarter 2024 earnings is pegged at 77 cents per share, suggesting year-over-year growth of 13.2%. It has a trailing four-quarter average surprise of 12.8%.
Eaton Corporation plc (ETN - Free Report) , expected to release earnings soon, currently has an Earnings ESP of +0.42% and a Zacks Rank of 3.
The consensus estimate for Eaton’s earnings for the second quarter of 2024 is pegged at $2.61 per share, indicating year-over-year growth of 18.1%. ETN has a trailing four-quarter average surprise of 4.7%.
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Will Strong Order Trends Drive Dover's (DOV) Q2 Earnings?
Dover Corporation (DOV - Free Report) will release second-quarter 2024 results on Jul 25, before the opening bell.
The Zacks Consensus Estimate for DOV’s second-quarter revenues is pegged at $2.15 billion, indicating 2.2% growth from the year-ago reported figure.
The consensus estimate for earnings is pegged at $2.21 per share. The Zacks Consensus Estimate for DOV’s second-quarter earnings has moved down 0.5% in the past 60 days. The estimate indicates year-over-year growth of 7.8%.
Image Source: Zacks Investment Research
Earnings Surprise History
Dover has an average earnings surprise of -0.78%.
Image Source: Zacks Investment Research
What the Zacks Model Unveils
Our model predicts an earnings beat for Dover this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is precisely the case here, as you can see below.
You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Earnings ESP: Dover has an Earnings ESP of +0.51%.
Zacks Rank: DOV currently carries a Zacks Rank of 2.
Factors Likely to Have Shaped Q2 Performance
DOV has been witnessing robust bookings across its segments on strong demand and shipment levels, which are likely to have benefited its second-quarter performance. Gains from the recent acquisitions are also likely to have contributed to Dover’s performance in the to-be-reported quarter.
The company’s margins have been gaining from a robust volume, an improved price-cost spread and tight cost controls for a while, offsetting the negative impacts of supply-chain constraints, input inflation and production disruptions. These are likely to have driven DOV’s profitability in the quarter under review.
Segment Estimates
In the Engineered Products segment, the demand for engineered products, vehicle service and industrial automation has been strong, which is expected to get reflected in the June-end quarter’s top-line results. We expect organic sales to have a positive impact of 3.5%. Our model predicts currency translation to have a favorable impact of 0.1% on the segment’s sales.
Our estimate for the segment’s second-quarter 2024 revenues is pegged at $491 million, suggesting growth of 3.6% from the prior-year quarter’s actual. The estimate for the segment’s adjusted EBITDA is pegged at $111 million.
The Clean Energy and Fueling Solutions segment is likely to have gained from growth in below-ground, fuel transport, vehicle wash and industrial gasses in the quarter under review. The gains will offset the impacts of subdued demand for above-ground fueling due to customer construction delays in Europe/Asia. We expect the segment’s revenues to be $448 million for the quarter to be reported, suggesting growth of 1.6% from the year-earlier actual.
The estimate for the segment’s adjusted EBITDA is pegged at $83.9 million. We expect the favorable impacts of currency translation to weigh 0.7% year over year on the segment’s results.
The Imaging & Identification segment's results are expected to reflect strong demand for marking and coding printers, and spares, as well as continued strength in consumables. We anticipate organic sales of the segment to grow 0.9% year over year in the quarter. Our prediction for the segment’s revenues is pinned at $279 million, suggesting a rise from the $272 million reported in the prior-year quarter. We project the segment’s adjusted EBITDA to be $78 million.
Dover’s Pumps & Process Solutions segment has been facing softness in the biopharma business. However, the recent acquisition of FW Murphy is likely to have boosted the segment’s performance in the to-be-reported quarter. Our model predicts year-over-year growth of 0.4% for the segment’s organic sales. We expect currency translation to have a year-over-year positive impact of 1.8% in the quarter.
We anticipate the segment’s revenues to increase 8.7% year over year to $506 million. The consensus mark for the segment’s second-quarter adjusted EBITDA is pegged at $160 million.
In the Climate and Sustainability Technologies segment, strong order rates in the food retail business and large backlogs are likely to have aided the segment’s second-quarter performance. Margins are anticipated to have gained on higher volumes. However, increased costs and the impacts of currency translations are expected to have partially offset the tailwind. We anticipate the segment’s organic sales to fall 2.3% year over year in the to-be-reported quarter. However, our model predicts currency translation to have a year-over-year positive impact of 1% on the segment’s top line.
We expect the segment’s quarterly revenues to be at $442 million, implying a 1.5% fall from the year-earlier reported figure. The estimate for the segment’s adjusted EBITDA is pegged at $89.9 million.
Price Performance
Dover’s shares have gained 28% in the past year compared with the industry’s growth of 24%.
Image Source: Zacks Investment Research
Other Stocks That Warrant a Look
Here are some other companies with the right combination of elements to post an earnings beat in their upcoming releases.
Crane Company (CR - Free Report) is scheduled to release its second-quarter results on Jul 29. It has an Earnings ESP of +0.96% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CR’s earnings is pegged at $1.24 per share, which indicates year-over-year growth of 12.7%. It has a trailing four-quarter average surprise of 15.2%.
Ingersoll Rand Inc. (IR - Free Report) , scheduled to release its second-quarter 2024 on Jul 31, has an Earnings ESP of +1.62% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for Ingersoll Rand’s second-quarter 2024 earnings is pegged at 77 cents per share, suggesting year-over-year growth of 13.2%. It has a trailing four-quarter average surprise of 12.8%.
Eaton Corporation plc (ETN - Free Report) , expected to release earnings soon, currently has an Earnings ESP of +0.42% and a Zacks Rank of 3.
The consensus estimate for Eaton’s earnings for the second quarter of 2024 is pegged at $2.61 per share, indicating year-over-year growth of 18.1%. ETN has a trailing four-quarter average surprise of 4.7%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.