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The Zacks Consensus Estimate for DOV’s revenues is pegged at $2.00 billion, indicating a 7.3% decline from the year-ago figure.
The consensus estimate for earnings is pegged at $2.16 per share. The estimate has moved down 10.4% in the past 60 days. The estimate indicates a year-over-year decline of 8.1%.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Image Source: Zacks Investment Research
DOV’s Earnings Surprise History
DOV’s earnings beat the Zacks Consensus Estimates thrice in the trailing four quarters while coming in line in one quarter, as seen in the chart below. DOV has an average earnings surprise of 2.73%.
What the Zacks Model Unveils for DOV Stock
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. But that is not 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 0.00%.
Zacks Rank: DOV currently carries a Zacks Rank #4 (Sell).
Factors to Note Regarding Dover’s Q3 Performance
DOV has been witnessing robust bookings across its segments on strong demand and shipment levels, which are likely to have benefited its third-quarter performance. Gains from the recent acquisitions are expected to aid results. However, the impact of divestitures, weak demand in the polymer processing equipment business and year-over-year lower sales of beverage can-making equipment and heat exchangers in Europe are expected to have negated these gains.
The company’s margins have been gaining from a robust volume, an improved price-cost spread and tight cost controls for a while. However, the negative impacts of supply-chain constraints and input inflation have been acting as headwinds. These are likely to reflect on DOV’s earnings results in the quarter under review.
Q3 Segment Projections for Dover
In the Engineered Products segment, ongoing strong demand in the waste handling and vehicle service businesses, improved production performance and solid demand trends in the aerospace and defense business are expected to reflect in the top-line results. We expect organic sales to have a positive impact of 9.1%, which will be somewhat offset by a 3.8% impact from the divestiture of the De-Sta-Co business (that occurred in the first quarter of 2024).
Our estimate for the segment’s revenues is pegged at $531 million, indicating growth of 5.4% from the prior-year quarter’s actual.
The estimate for the segment’s adjusted EBITDA is pegged at $125 million, indicating 15% growth from the last year’s quarter. We expect the segment to have benefited from organic volume increases, favorable price versus cost dynamics and productivity initiatives, partially offset by disposition impacts.
The Clean Energy and Fueling Solutions segment is likely to have gained from the strong demand in North America in the above-ground retail fueling equipment and the clean energy solutions business. We expect the segment’s revenues to be $483 million, indicating growth of 3.4% from the year-earlier actual. Organic growth is projected at 1.3% and acquisitions (Transchem and Bulloch that were completed in the first quarter of 2024) are expected to contribute 1.6% to the sales growth. Favorable impacts of currency translation are expected to add 0.5% to the segment’s results.
The estimate for the segment’s adjusted EBITDA is pegged at $102 million, indicating 2.1% increase from the year-ago quarter driven by pricing actions and productivity initiatives.
The Imaging & Identification segment's results are expected to reflect strong demand for marking and coding equipment in the United States and Latin America as well as improved pricing. We expect the segment’s organic sales to be 1.6% for the quarter. Acquisitions are expected to add 0.3%, which is likely to be offset by an unfavorable 0.6% impact of foreign currency. Our prediction for the segment’s revenues is at $279.7 million, indicating a 1.3% rise from $276.2 million reported in the prior-year quarter.
We project the segment’s adjusted EBITDA to be $81 million, which is 9% higher than the third-quarter 2023 figure aided by pricing initiatives and cost controls, offset by the unfavorable impact of foreign currency translation.
Dover’s Pumps & Process Solutions segment’s results are likely to reflect positive demand trends in bioprocessing and recent specification wins for thermal connectors in liquid cooling for high-performance computing and data center applications. However, weak demand in the polymer processing equipment business is likely to have offset some of these gains. Our model predicts year-over-year growth of 0.9% for the segment’s organic sales. The contribution from the FW Murphy acquisition is expected to be around 6.6% while currency translation is anticipated to have a year-over-year positive impact of 0.2%.
We anticipate the segment’s revenues to increase 7.7% year over year to $464.7 million. The consensus mark for the segment’s third-quarter adjusted EBITDA is pegged at $150.7 million, implying 16% year-over-year growth.
In the Climate and Sustainability Technologies segment, lower sales of beverage can-making equipment and heat exchangers in Europe are likely to have offset an improved demand for retail refrigeration equipment. We anticipate the segment’s organic sales to be down 2.9% year over year . Our model predicts acquisitions to have a year-over-year positive impact of 0.4% on the top line. We expect quarterly revenues to be $463.5 million, implying a 2.6% decline from the year-earlier figure. The estimate for the segment’s adjusted EBITDA is pegged at $98 million compared with $83 million reported in the third quarter of 2023.
Key Recent Developments for Dover
In July, Dover completed the acquisition of Demaco Holland B.V. and Marshall Excelsior Company, both of which will be included in the Clean Energy & Fueling segment.
Demaco is a provider of critical flow control components for cryogenic applications used in a wide range of end markets. Marshall Excelsior is a supplier of highly engineered flow control components for transportation, storage and use of liquefied petroleum gas and other industrial gases.
On Oct. 8, Dover completed the previously announced sale of its Environmental Solutions Group business, which was part of its Engineered Products segment.
Dover Stock’s Price Performance
Dover’s shares have gained 26.4% in the past year compared with the industry’s 10.9% growth.
Image Source: Zacks Investment Research
Stocks That Warrant a Look
Here are some 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 $1.31 per share, which indicates year-over-year growth of 27.2%. It has a trailing four-quarter average earnings surprise of 11.2%.
Ingersoll Rand Inc. (IR - Free Report) , scheduled to release its third-quarter results on Oct. 31, has an Earnings ESP of +1.22% and a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for Ingersoll Rand’s third-quarter 2024 earnings is pegged at 82 cents per share, indicating year-over-year growth of 6.5%. It has a trailing four-quarter average earnings surprise of 11%.
Eaton Corporation plc (ETN - Free Report) , expected to release earnings soon, currently has an Earnings ESP of +0.48% and a Zacks Rank of 2.
The consensus estimate for Eaton’s earnings for the third quarter is pegged at $2.80 per share, indicating year-over-year growth of 13.4%. ETN has a trailing four-quarter average earnings surprise of 4.7%.
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Dover to Report Q3 Earnings: Here's What You Should Know
Dover Corporation (DOV - Free Report) is set to release third-quarter 2024 results on Oct. 24, before the opening bell.
The Zacks Consensus Estimate for DOV’s revenues is pegged at $2.00 billion, indicating a 7.3% decline from the year-ago figure.
The consensus estimate for earnings is pegged at $2.16 per share. The estimate has moved down 10.4% in the past 60 days. The estimate indicates a year-over-year decline of 8.1%.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
DOV’s Earnings Surprise History
DOV’s earnings beat the Zacks Consensus Estimates thrice in the trailing four quarters while coming in line in one quarter, as seen in the chart below. DOV has an average earnings surprise of 2.73%.
What the Zacks Model Unveils for DOV Stock
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. But that is not 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 0.00%.
Zacks Rank: DOV currently carries a Zacks Rank #4 (Sell).
Factors to Note Regarding Dover’s Q3 Performance
DOV has been witnessing robust bookings across its segments on strong demand and shipment levels, which are likely to have benefited its third-quarter performance. Gains from the recent acquisitions are expected to aid results. However, the impact of divestitures, weak demand in the polymer processing equipment business and year-over-year lower sales of beverage can-making equipment and heat exchangers in Europe are expected to have negated these gains.
The company’s margins have been gaining from a robust volume, an improved price-cost spread and tight cost controls for a while. However, the negative impacts of supply-chain constraints and input inflation have been acting as headwinds. These are likely to reflect on DOV’s earnings results in the quarter under review.
Q3 Segment Projections for Dover
In the Engineered Products segment, ongoing strong demand in the waste handling and vehicle service businesses, improved production performance and solid demand trends in the aerospace and defense business are expected to reflect in the top-line results. We expect organic sales to have a positive impact of 9.1%, which will be somewhat offset by a 3.8% impact from the divestiture of the De-Sta-Co business (that occurred in the first quarter of 2024).
Our estimate for the segment’s revenues is pegged at $531 million, indicating growth of 5.4% from the prior-year quarter’s actual.
The estimate for the segment’s adjusted EBITDA is pegged at $125 million, indicating 15% growth from the last year’s quarter. We expect the segment to have benefited from organic volume increases, favorable price versus cost dynamics and productivity initiatives, partially offset by disposition impacts.
The Clean Energy and Fueling Solutions segment is likely to have gained from the strong demand in North America in the above-ground retail fueling equipment and the clean energy solutions business. We expect the segment’s revenues to be $483 million, indicating growth of 3.4% from the year-earlier actual. Organic growth is projected at 1.3% and acquisitions (Transchem and Bulloch that were completed in the first quarter of 2024) are expected to contribute 1.6% to the sales growth. Favorable impacts of currency translation are expected to add 0.5% to the segment’s results.
The estimate for the segment’s adjusted EBITDA is pegged at $102 million, indicating 2.1% increase from the year-ago quarter driven by pricing actions and productivity initiatives.
The Imaging & Identification segment's results are expected to reflect strong demand for marking and coding equipment in the United States and Latin America as well as improved pricing. We expect the segment’s organic sales to be 1.6% for the quarter. Acquisitions are expected to add 0.3%, which is likely to be offset by an unfavorable 0.6% impact of foreign currency. Our prediction for the segment’s revenues is at $279.7 million, indicating a 1.3% rise from $276.2 million reported in the prior-year quarter.
We project the segment’s adjusted EBITDA to be $81 million, which is 9% higher than the third-quarter 2023 figure aided by pricing initiatives and cost controls, offset by the unfavorable impact of foreign currency translation.
Dover’s Pumps & Process Solutions segment’s results are likely to reflect positive demand trends in bioprocessing and recent specification wins for thermal connectors in liquid cooling for high-performance computing and data center applications. However, weak demand in the polymer processing equipment business is likely to have offset some of these gains. Our model predicts year-over-year growth of 0.9% for the segment’s organic sales. The contribution from the FW Murphy acquisition is expected to be around 6.6% while currency translation is anticipated to have a year-over-year positive impact of 0.2%.
We anticipate the segment’s revenues to increase 7.7% year over year to $464.7 million. The consensus mark for the segment’s third-quarter adjusted EBITDA is pegged at $150.7 million, implying 16% year-over-year growth.
In the Climate and Sustainability Technologies segment, lower sales of beverage can-making equipment and heat exchangers in Europe are likely to have offset an improved demand for retail refrigeration equipment. We anticipate the segment’s organic sales to be down 2.9% year over year . Our model predicts acquisitions to have a year-over-year positive impact of 0.4% on the top line. We expect quarterly revenues to be $463.5 million, implying a 2.6% decline from the year-earlier figure. The estimate for the segment’s adjusted EBITDA is pegged at $98 million compared with $83 million reported in the third quarter of 2023.
Key Recent Developments for Dover
In July, Dover completed the acquisition of Demaco Holland B.V. and Marshall Excelsior Company, both of which will be included in the Clean Energy & Fueling segment.
Demaco is a provider of critical flow control components for cryogenic applications used in a wide range of end markets. Marshall Excelsior is a supplier of highly engineered flow control components for transportation, storage and use of liquefied petroleum gas and other industrial gases.
On Oct. 8, Dover completed the previously announced sale of its Environmental Solutions Group business, which was part of its Engineered Products segment.
Dover Stock’s Price Performance
Dover’s shares have gained 26.4% in the past year compared with the industry’s 10.9% growth.
Image Source: Zacks Investment Research
Stocks That Warrant a Look
Here are some 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 third-quarter results on Oct. 28. It has an Earnings ESP of +0.09% 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 $1.31 per share, which indicates year-over-year growth of 27.2%. It has a trailing four-quarter average earnings surprise of 11.2%.
Ingersoll Rand Inc. (IR - Free Report) , scheduled to release its third-quarter results on Oct. 31, has an Earnings ESP of +1.22% and a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for Ingersoll Rand’s third-quarter 2024 earnings is pegged at 82 cents per share, indicating year-over-year growth of 6.5%. It has a trailing four-quarter average earnings surprise of 11%.
Eaton Corporation plc (ETN - Free Report) , expected to release earnings soon, currently has an Earnings ESP of +0.48% and a Zacks Rank of 2.
The consensus estimate for Eaton’s earnings for the third quarter is pegged at $2.80 per share, indicating year-over-year growth of 13.4%. ETN has a trailing four-quarter average earnings surprise of 4.7%.