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 Corporation (DOV - Free Report) is an industrial conglomerate producing wide range of specialized industrial products and manufacturing equipment. The company mainly delivers innovative equipment and components, specialty systems and support services through four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment.
Dover is likely to benefit from its acquisition strategy, robust hygienic and pharma markets, and recovery in the North American rig count. Further, Dover’s diligent efforts to divest its businesses will help in reducing exposure to cyclical markets and focus on higher margin growth spaces. Improvements in the early cycle upstream oil and gas markets, and strong performance in Printing & Identification are also expected to drive second-quarter results. However, generally weaker capital spending across several industrial end markets and persistent headwinds in its retail refrigeration business are expected to affect Dover’s results.
We have highlighted some of the key stats from this just revealed second-quarter earnings announcement below:
Estimate Trend & Surprise History
Investors should note that the earnings estimate revisions for Dover have moved north ahead of the earnings release. The Zacks Consensus Estimate has gone up 1% over the last 30 days and currently stands at $1.00 for the second quarter.
As regards earnings surprise, Dover has outpaced the Zacks Consensus Estimate in three out of the past four quarters, resulting in an average positive surprise of 1.17%.
Dover posted earnings of $1.04 per share in the second quarter of 2017, beating the Zacks Consensus Estimate of $1.00. Earnings also surged 37% year over yaer.
Revenues
Dover posted revenues of $1.993 billion, which came ahead of the Zacks Consensus Estimate for revenues of $1.942 billion. Revenues also increased 18% year over year, driven by acquisition growth of 12% and organic growth of 10%, partly offset by a 3% impact from dispositions, and an unfavorable impact from foreign exchange of 1%.
Key Stats
Dover’s bookings at the end of the second quarter were worth $2.02 billion, up from $1.69 billion at the end of second-quarter 2016. Backlog also increased to $1.33 billion at the end of the reported quarter from $1.09 billion at the year-ago quarter end.
Dover raised its revenue and EPS guidance for full year 2017, driven by solid second quarter performance. The company now guides adjusted earnings per share in range of $4.23 to $4.33, up from the prior band $4.05 to $4.20 for 2017. The company also expects its full-year revenues to grow in the range of 12% to 14% compared with the previous outlook of 11% to 13%. The revenue growth guidance comprised of organic growth of 5% to 7% and acquisition growth of approximately 10%, partially offset by a 2% impact from the dispositions and a 1% headwind from foreign exchange.
Zacks Rank
Currently, Dover has a Zacks Rank #2 (Buy), but that could change following Dover’s earnings report which was just released.
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’s earnings report later!
3 Top Picks to Ride the Hottest Tech Trend
Zacks just released a Special Report to guide you through a space that has already begun to transform our entire economy...
Last year, it was generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. Download Report with 3 Top Tech Stocks >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Dover (DOV) Tops Q2 Earnings & Revenues, Raises '17 View
Dover Corporation (DOV - Free Report) is an industrial conglomerate producing wide range of specialized industrial products and manufacturing equipment. The company mainly delivers innovative equipment and components, specialty systems and support services through four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment.
Dover is likely to benefit from its acquisition strategy, robust hygienic and pharma markets, and recovery in the North American rig count. Further, Dover’s diligent efforts to divest its businesses will help in reducing exposure to cyclical markets and focus on higher margin growth spaces. Improvements in the early cycle upstream oil and gas markets, and strong performance in Printing & Identification are also expected to drive second-quarter results. However, generally weaker capital spending across several industrial end markets and persistent headwinds in its retail refrigeration business are expected to affect Dover’s results.
We have highlighted some of the key stats from this just revealed second-quarter earnings announcement below:
Estimate Trend & Surprise History
Investors should note that the earnings estimate revisions for Dover have moved north ahead of the earnings release. The Zacks Consensus Estimate has gone up 1% over the last 30 days and currently stands at $1.00 for the second quarter.
As regards earnings surprise, Dover has outpaced the Zacks Consensus Estimate in three out of the past four quarters, resulting in an average positive surprise of 1.17%.
Dover Corporation Price and EPS Surprise
Dover Corporation Price and EPS Surprise | Dover Corporation Quote
Earnings
Dover posted earnings of $1.04 per share in the second quarter of 2017, beating the Zacks Consensus Estimate of $1.00. Earnings also surged 37% year over yaer.
Revenues
Dover posted revenues of $1.993 billion, which came ahead of the Zacks Consensus Estimate for revenues of $1.942 billion. Revenues also increased 18% year over year, driven by acquisition growth of 12% and organic growth of 10%, partly offset by a 3% impact from dispositions, and an unfavorable impact from foreign exchange of 1%.
Key Stats
Dover’s bookings at the end of the second quarter were worth $2.02 billion, up from $1.69 billion at the end of second-quarter 2016. Backlog also increased to $1.33 billion at the end of the reported quarter from $1.09 billion at the year-ago quarter end.
Dover raised its revenue and EPS guidance for full year 2017, driven by solid second quarter performance. The company now guides adjusted earnings per share in range of $4.23 to $4.33, up from the prior band $4.05 to $4.20 for 2017. The company also expects its full-year revenues to grow in the range of 12% to 14% compared with the previous outlook of 11% to 13%. The revenue growth guidance comprised of organic growth of 5% to 7% and acquisition growth of approximately 10%, partially offset by a 2% impact from the dispositions and a 1% headwind from foreign exchange.
Zacks Rank
Currently, Dover has a Zacks Rank #2 (Buy), but that could change following Dover’s earnings report which was just released.
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’s earnings report later!
3 Top Picks to Ride the Hottest Tech Trend
Zacks just released a Special Report to guide you through a space that has already begun to transform our entire economy...
Last year, it was generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. Download Report with 3 Top Tech Stocks >>