We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you accept our Privacy Policy and Terms of Service, revised from time to time, and you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Dover Earnings Surpass Estimates in Q4, Revenues Increases Y/Y
Read MoreHide Full Article
Dover Corporation (DOV - Free Report) has reported fourth-quarter 2024 adjusted earnings per share (EPS) from continuing operations of $2.20, beating the Zacks Consensus Estimate of $2.08. In the year-ago quarter, the company reported an adjusted EPS of $2.18 (excluding after-tax purchase accounting expenses and after-tax gain on disposition of a minority-owned equity method investment).
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
On a reported basis, Dover has delivered earnings of $1.72 per share in the quarter, down 7% year over year.
Total revenues in the fourth quarter increased 1.3% year over year to $1.93 billion. The top line missed the Zacks Consensus Estimate of $1.98 billion. Organic growth grew 0.3% in the quarter.
Dover Corporation Price, Consensus and EPS Surprise
Cost of sales fell 0.1% year over year to $1.18 billion in the reported quarter. Gross profit rose 3.6% year over year to $746 million. The gross margin was 38.7% compared with the year-ago quarter’s 37.8%.
Selling, general and administrative expenses rose 8.9% to $451 million from the prior-year quarter. Adjusted EBITDA increased 4% year over year to $466 million. The adjusted EBITDA margin was 24.2% in the quarter compared with the prior-year quarter’s 23.5%.
Dover’s Q4 Segmental Performances
The Engineered Products segment’s revenues declined 12.2% year over year to $288 million in the quarter. The reported figure fell short of our expectation of $310 million. The segment’s adjusted EBITDA decreased 10.5% year over year to $64.9 million. The figure beat our estimate of $65.9 million.
The Clean Energy & Fueling segment’s revenues were $528 million compared with the prior-year quarter’s $449 million. The figure beat our estimate of $473 million. The segment’s adjusted EBITDA was $111 million, up from the prior-year quarter’s $87 million. The figure beat our estimate of $98 million.
The Imaging & Identification segment’s revenues moved up 1.2% year over year to $289 million. The reported figure missed our projection of $292 million. The segment’s adjusted EBITDA was $82 million, up 7.4% from the year-ago quarter. The figure topped our estimate of $80 million.
The Pumps & Process Solutions segment’s revenues rose 7.7% year over year to $479 million in the fourth quarter but missed our estimate of $488 million. The adjusted EBITDA of the segment totaled $155 million, up 15.9% from the year-ago quarter’s $134 million. The reported figure was higher than our projection of $148 million.
The Climate & Sustainability Technologies segment’s revenues fell 12.8% to $348 million from the $398 million reported in the year-earlier quarter. We had predicted revenues of $396 million for this segment. The segment’s adjusted EBITDA totaled $52.6 million compared with $78.6 million in fourth-quarter 2023. The figure was lower than our estimate of $74 million.
DOV’s Bookings Rose Y/Y in Q4
Dover’s bookings at the end of the fourth quarter were worth $1.94 billion compared with the prior-year quarter’s $1.79 billion. Total bookings were higher than our estimate of $1.87 billion.
Dover’s Q4 Financial Position
The company generated a free cash flow of $385 million in the fourth quarter of 2024 compared with the year-ago quarter’s $441 million. The cash flow from operations amounted to $439 million in the quarter under review compared with the prior-year quarter’s $499 million.
DOV’s 2024 Performance
Dover has reported an adjusted EPS of $8.29 in 2024 compared with $7.95 in the prior year. Earnings beat the Zacks Consensus Estimate of $8.17. Including one-time items, the bottom line was at $10.09, up from the $6.71 reported in 2023.
Sales rose 1% year over year to $7.75 billion from the prior-year figure of $7.68 billion. The top line missed the Zacks Consensus Estimate of $7.79 billion.
Dover’s 2025 Outlook
Dover expects adjusted EPS between $9.30 and $9.50 for 2025. It anticipates year-over-year revenue growth of 2-4%.
DOV Stock’s Price Performance
The company’s shares have gained 33.2% in the past year compared with the industry’s growth of 17.2%.
Applied Industrial Technologies (AIT - Free Report) reported second-quarter fiscal 2025 (ended Dec. 31, 2024) earnings of $2.39 per share, which surpassed the Zacks Consensus Estimate of $2.22. The bottom line increased 6.7% year over year.
Net revenues of $1.07 billion missed the consensus estimate of $1.08 billion. The top line inched down 0.4% year over year. Acquisitions boosted the top line by 1.9%, while foreign-currency translation had a negative impact of 0.5%. Organic sales decreased 3.4% year over year. Selling days had a favorable impact of 1.6%.
Graco Inc.’s (GGG - Free Report) fourth-quarter 2024 adjusted earnings of 64 cents per share missed the Zacks Consensus Estimate of 76 cents. The bottom line declined 20% year over year.
The company’s net revenues of $548.7 million missed the consensus estimate of $554 million. The top line fell 3% year over year due to lower demand in the Industrial segment.
Manufacturing Stocks Awaiting Results
Flowserve Corporation (FLS - Free Report) is scheduled to release its fourth-quarter 2024 results on Feb. 18. The Zacks Consensus Estimate for FLS’s fourth-quarter 2024 earnings is pegged at 77 cents per share, suggesting year-over-year growth of 13.2%.
The Zacks Consensus Estimate for the company’s top line is pegged at $1.21 billion, indicating an increase of 3.9% from the prior year’s actual. FLS has a trailing four-quarter average surprise of 10.8%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Dover Earnings Surpass Estimates in Q4, Revenues Increases Y/Y
Dover Corporation (DOV - Free Report) has reported fourth-quarter 2024 adjusted earnings per share (EPS) from continuing operations of $2.20, beating the Zacks Consensus Estimate of $2.08. In the year-ago quarter, the company reported an adjusted EPS of $2.18 (excluding after-tax purchase accounting expenses and after-tax gain on disposition of a minority-owned equity method investment).
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
On a reported basis, Dover has delivered earnings of $1.72 per share in the quarter, down 7% year over year.
Total revenues in the fourth quarter increased 1.3% year over year to $1.93 billion. The top line missed the Zacks Consensus Estimate of $1.98 billion. Organic growth grew 0.3% in the quarter.
Dover Corporation Price, Consensus and EPS Surprise
Dover Corporation price-consensus-eps-surprise-chart | Dover Corporation Quote
DOV’s Margins Rose Y/Y in Q4
Cost of sales fell 0.1% year over year to $1.18 billion in the reported quarter. Gross profit rose 3.6% year over year to $746 million. The gross margin was 38.7% compared with the year-ago quarter’s 37.8%.
Selling, general and administrative expenses rose 8.9% to $451 million from the prior-year quarter. Adjusted EBITDA increased 4% year over year to $466 million. The adjusted EBITDA margin was 24.2% in the quarter compared with the prior-year quarter’s 23.5%.
Dover’s Q4 Segmental Performances
The Engineered Products segment’s revenues declined 12.2% year over year to $288 million in the quarter. The reported figure fell short of our expectation of $310 million. The segment’s adjusted EBITDA decreased 10.5% year over year to $64.9 million. The figure beat our estimate of $65.9 million.
The Clean Energy & Fueling segment’s revenues were $528 million compared with the prior-year quarter’s $449 million. The figure beat our estimate of $473 million. The segment’s adjusted EBITDA was $111 million, up from the prior-year quarter’s $87 million. The figure beat our estimate of $98 million.
The Imaging & Identification segment’s revenues moved up 1.2% year over year to $289 million. The reported figure missed our projection of $292 million. The segment’s adjusted EBITDA was $82 million, up 7.4% from the year-ago quarter. The figure topped our estimate of $80 million.
The Pumps & Process Solutions segment’s revenues rose 7.7% year over year to $479 million in the fourth quarter but missed our estimate of $488 million. The adjusted EBITDA of the segment totaled $155 million, up 15.9% from the year-ago quarter’s $134 million. The reported figure was higher than our projection of $148 million.
The Climate & Sustainability Technologies segment’s revenues fell 12.8% to $348 million from the $398 million reported in the year-earlier quarter. We had predicted revenues of $396 million for this segment. The segment’s adjusted EBITDA totaled $52.6 million compared with $78.6 million in fourth-quarter 2023. The figure was lower than our estimate of $74 million.
DOV’s Bookings Rose Y/Y in Q4
Dover’s bookings at the end of the fourth quarter were worth $1.94 billion compared with the prior-year quarter’s $1.79 billion. Total bookings were higher than our estimate of $1.87 billion.
Dover’s Q4 Financial Position
The company generated a free cash flow of $385 million in the fourth quarter of 2024 compared with the year-ago quarter’s $441 million. The cash flow from operations amounted to $439 million in the quarter under review compared with the prior-year quarter’s $499 million.
DOV’s 2024 Performance
Dover has reported an adjusted EPS of $8.29 in 2024 compared with $7.95 in the prior year. Earnings beat the Zacks Consensus Estimate of $8.17. Including one-time items, the bottom line was at $10.09, up from the $6.71 reported in 2023.
Sales rose 1% year over year to $7.75 billion from the prior-year figure of $7.68 billion. The top line missed the Zacks Consensus Estimate of $7.79 billion.
Dover’s 2025 Outlook
Dover expects adjusted EPS between $9.30 and $9.50 for 2025. It anticipates year-over-year revenue growth of 2-4%.
DOV Stock’s Price Performance
The company’s shares have gained 33.2% in the past year compared with the industry’s growth of 17.2%.
Dover’s Zacks Rank
Dover currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DOV’s Peer Performances
Applied Industrial Technologies (AIT - Free Report) reported second-quarter fiscal 2025 (ended Dec. 31, 2024) earnings of $2.39 per share, which surpassed the Zacks Consensus Estimate of $2.22. The bottom line increased 6.7% year over year.
Net revenues of $1.07 billion missed the consensus estimate of $1.08 billion. The top line inched down 0.4% year over year. Acquisitions boosted the top line by 1.9%, while foreign-currency translation had a negative impact of 0.5%. Organic sales decreased 3.4% year over year. Selling days had a favorable impact of 1.6%.
Graco Inc.’s (GGG - Free Report) fourth-quarter 2024 adjusted earnings of 64 cents per share missed the Zacks Consensus Estimate of 76 cents. The bottom line declined 20% year over year.
The company’s net revenues of $548.7 million missed the consensus estimate of $554 million. The top line fell 3% year over year due to lower demand in the Industrial segment.
Manufacturing Stocks Awaiting Results
Flowserve Corporation (FLS - Free Report) is scheduled to release its fourth-quarter 2024 results on Feb. 18. The Zacks Consensus Estimate for FLS’s fourth-quarter 2024 earnings is pegged at 77 cents per share, suggesting year-over-year growth of 13.2%.
The Zacks Consensus Estimate for the company’s top line is pegged at $1.21 billion, indicating an increase of 3.9% from the prior year’s actual. FLS has a trailing four-quarter average surprise of 10.8%.