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Dover (DOV) to Report Q2 Earnings: What's in the Cards?
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Dover Corporation (DOV - Free Report) is set to release second-quarter 2021 results, before the opening bell, on Jul 20.
Q1 Results
In the last reported quarter, Dover’s earnings and sales beat the respective Zacks Consensus Estimate and improved year over year. The company has a trailing four-quarter average earnings surprise of 21.3%.
Q2 Estimates
The Zacks Consensus Estimate for second-quarter 2021 earnings per share is currently pegged at $1.83, suggesting growth of 61.9% from the prior-year quarter. The same for total revenues is pinned at $1.87 billion, indicating a year-over-year increase of 24.7%.
Factors Setting the Tone
Dover has been witnessing robust order trends across multiple markets, particularly in biopharma, connectors and pumps, plastics and polymer processing, food retail, industrial pumps, refuse collection, and automotive-exposed markets. Thus, benefits from robust backlog across the company’s segments might get reflected in the April-June quarter’s results. Further, manufacturing activity has been expanding for 12 consecutive months now. This is likely to have contributed to the company’s second-quarter performance.
Dover’s efforts to boost productivity and cost initiatives are anticipated to have driven margins during the quarter under review. It has been executing restructuring programs to better align costs and operations with the current market conditions through targeted facility consolidations, headcount reductions and other measures. These actions are likely to have aided the company’s quarterly performance.
Segmental Estimates
In the Engineered Products segment, demand for engineered products, vehicle service and industrial automation has been strong, which might get reflected in the to-be-reported quarter top–line number. The Zacks Consensus Estimate for the segment’s second-quarter revenues is currently pegged at $432 million, suggesting year-over-year growth of 26.3%. The estimate for operating profit stands at $74 million, calling for an improvement of 54.2% from the prior-year quarter’s figure of $48 million.
The Fueling Solutions segment is likely to have gained from productivity and pricing actions during the April-June quarter. The Zacks Consensus Estimate for the segment’s revenues is pinned at $382 million, suggesting a year-over-year increase of 16.8%. Meanwhile, the estimate for operating profit is pegged at $68 million, suggesting growth of 44.6%, year over year.
The Imaging & Identification segment’s results are likely to reflect solid demand for consumables and fast-moving consumer goods solutions. The segment’s revenues are expected to show an improvement of 23.6% year over year to $282 million. The Zacks Consensus Estimate for the segment’s operating profit is $58 million, suggesting an increase of 52.6% from the prior-year quarter.
In the Refrigeration & Food Equipment segment, strong order rates, demand stabilization in foodservice equipment and cost-control actions are likely to have aided the segment’s second-quarter performance. The Zacks Consensus Estimate for the segment’s quarterly revenues is currently pegged at $402 million, calling for 36.7% growth, year over year. The estimate for operating profit is pegged at $52 million compared with the year-ago quarter’s $11.5 million.
In the Pumps & Process Solutions segment, robust demand for food and beverage, recovery in industrial pumps, and stellar growth in the biopharma and hygiene market on account of the pandemic are likely to have aided the segment’s June-end quarter performance. The Zacks Consensus Estimate for the segment’s revenues is pegged at $395 million, suggesting year-over-year growth of 27.8%. The estimate for operating profit of $106 million indicates an improvement of 55.8% year over year.
Our proven model does not predict 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 odds of an earnings beat. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Dover is 0.00%.
The company’s shares have gained 53.6% over the past year, outperforming the industry’s growth of 36.9%.
Image Source: Zacks Investment Research
Stocks to Consider
Here are some Industrial Products stocks, which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases.
Pentair plc (PNR - Free Report) has an Earnings ESP of +3.13% and flaunts a Zacks Rank of 1, at present.
Packaging Corporation of America (PKG - Free Report) has an Earnings ESP of +0.58% and carries a Zacks Rank #2, currently.
W.W. Grainger, Inc. (GWW - Free Report) , currently a Zacks #3 Ranked stock, has an Earnings ESP of +0.71%.
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Dover (DOV) to Report Q2 Earnings: What's in the Cards?
Dover Corporation (DOV - Free Report) is set to release second-quarter 2021 results, before the opening bell, on Jul 20.
Q1 Results
In the last reported quarter, Dover’s earnings and sales beat the respective Zacks Consensus Estimate and improved year over year. The company has a trailing four-quarter average earnings surprise of 21.3%.
Q2 Estimates
The Zacks Consensus Estimate for second-quarter 2021 earnings per share is currently pegged at $1.83, suggesting growth of 61.9% from the prior-year quarter. The same for total revenues is pinned at $1.87 billion, indicating a year-over-year increase of 24.7%.
Factors Setting the Tone
Dover has been witnessing robust order trends across multiple markets, particularly in biopharma, connectors and pumps, plastics and polymer processing, food retail, industrial pumps, refuse collection, and automotive-exposed markets. Thus, benefits from robust backlog across the company’s segments might get reflected in the April-June quarter’s results. Further, manufacturing activity has been expanding for 12 consecutive months now. This is likely to have contributed to the company’s second-quarter performance.
Dover’s efforts to boost productivity and cost initiatives are anticipated to have driven margins during the quarter under review. It has been executing restructuring programs to better align costs and operations with the current market conditions through targeted facility consolidations, headcount reductions and other measures. These actions are likely to have aided the company’s quarterly performance.
Segmental Estimates
In the Engineered Products segment, demand for engineered products, vehicle service and industrial automation has been strong, which might get reflected in the to-be-reported quarter top–line number. The Zacks Consensus Estimate for the segment’s second-quarter revenues is currently pegged at $432 million, suggesting year-over-year growth of 26.3%. The estimate for operating profit stands at $74 million, calling for an improvement of 54.2% from the prior-year quarter’s figure of $48 million.
The Fueling Solutions segment is likely to have gained from productivity and pricing actions during the April-June quarter. The Zacks Consensus Estimate for the segment’s revenues is pinned at $382 million, suggesting a year-over-year increase of 16.8%. Meanwhile, the estimate for operating profit is pegged at $68 million, suggesting growth of 44.6%, year over year.
The Imaging & Identification segment’s results are likely to reflect solid demand for consumables and fast-moving consumer goods solutions. The segment’s revenues are expected to show an improvement of 23.6% year over year to $282 million. The Zacks Consensus Estimate for the segment’s operating profit is $58 million, suggesting an increase of 52.6% from the prior-year quarter.
In the Refrigeration & Food Equipment segment, strong order rates, demand stabilization in foodservice equipment and cost-control actions are likely to have aided the segment’s second-quarter performance. The Zacks Consensus Estimate for the segment’s quarterly revenues is currently pegged at $402 million, calling for 36.7% growth, year over year. The estimate for operating profit is pegged at $52 million compared with the year-ago quarter’s $11.5 million.
In the Pumps & Process Solutions segment, robust demand for food and beverage, recovery in industrial pumps, and stellar growth in the biopharma and hygiene market on account of the pandemic are likely to have aided the segment’s June-end quarter performance. The Zacks Consensus Estimate for the segment’s revenues is pegged at $395 million, suggesting year-over-year growth of 27.8%. The estimate for operating profit of $106 million indicates an improvement of 55.8% year over year.
Dover Corporation Price and EPS Surprise
Dover Corporation price-eps-surprise | Dover Corporation Quote
What Our Zacks Model Indicates
Our proven model does not predict 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 odds of an earnings beat. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Dover is 0.00%.
Zacks Rank: Dover currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Share Price Performance
The company’s shares have gained 53.6% over the past year, outperforming the industry’s growth of 36.9%.
Image Source: Zacks Investment Research
Stocks to Consider
Here are some Industrial Products stocks, which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases.
Pentair plc (PNR - Free Report) has an Earnings ESP of +3.13% and flaunts a Zacks Rank of 1, at present.
Packaging Corporation of America (PKG - Free Report) has an Earnings ESP of +0.58% and carries a Zacks Rank #2, currently.
W.W. Grainger, Inc. (GWW - Free Report) , currently a Zacks #3 Ranked stock, has an Earnings ESP of +0.71%.