We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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 (DOV) Q3 Earnings Surpasses Estimates & Revenues Lag
Read MoreHide Full Article
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 $1.36 per share in third-quarter 2018, beating the Zacks Consensus Estimate of $1.29. Earnings also improved 14% year over year mainly driven by strong demand in the Engineered Systems and Fluids segments.
Revenue: Dover posted revenues of $1.75 billion, which fell short of the Zacks Consensus Estimate of $1.76 billion. Strong overall demand in the quarter drove organic revenue increases of 5% in Engineered Systems and 9% in Fluids, offsetting continued weak demand in Refrigeration & Food Equipment.
Outlook: Dover narrowed its adjusted earnings per share guidance for full-year 2018 to $4.80-$4.85 from the previous guidance of $4.75-$4.85. The guidance includes full-year revenue growth of 2%, comprising organic growth of 3%, acquisition growth of 1% and a favorable foreign exchange impact 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 third quarter have moved south ahead of the earnings release. The Zacks Consensus Estimate currently stands at $1.29 for the quarter.
As regards earnings surprise, Dover has outpaced the Zacks Consensus Estimate in each of the past four quarters, with an average beat of 5.81%.
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!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Dover (DOV) Q3 Earnings Surpasses Estimates & Revenues Lag
Dover Corporation price-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. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.