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Dover (DOV) Q4 Earnings & Sales Beat Estimates, View Upbeat

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Dover  Corporation (DOV - Free Report) is an industrial conglomerate producing wide range of specialized industrial products and manufacturing equipment. The company reported adjusted earnings of $1.13 per share in the fourth quarter of 2017, beating the Zacks Consensus Estimate of $1.04. Earnings also surged 49% year over year.

Revenue: Dover posted revenues of $2.017 billion, which came ahead of the Zacks Consensus Estimate for revenues of $1.989 billion. Revenues also increased 13% year over year, driven by acquisition growth of 6%, organic growth of 8% and a favorable impact from foreign exchange of 2%, partly offset by a 3% impact from dispositions.

Bookings: Dover’s bookings at the end of the fourth quarter were worth $1.97 billion, up from $1.74 billion at the end of fourth-quarter 2016. Backlog also increased to $1.23 billion at the end of the reported quarter from $1.08 billion at the year-ago quarter end.

Outlook:  Dover guides its earnings per share for full year 2018 will be in the range of $5.73-$5.93, representing an increase of 19% over the prior year. This guidance is based on full year revenue growth of 3% to 5%, and is comprised of organic growth of 5% to 7% and a favorable impact from FX of 1%, partially offset by a 3% impact from dispositions.

Estimate Trend & Surprise History

Investors should note that the earnings estimate revisions for Dover for the fourth quarter have remained stable prior to the earnings release. The Zacks Consensus Estimate currently stands at $1.04 for the quarter.

As regards earnings surprise, Dover has outpaced the Zacks Consensus Estimate in three out of the past four quarters.

Dover Corporation Price and EPS Surprise

 

Dover Corporation Price and EPS Surprise | Dover Corporation Quote

Zacks Rank: Currently, Dover has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.

Market Reaction: Dover’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.

Check back later for our full write up on this Dover earnings report later!

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