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Dover's (DOV) Arm Inks Deal to Offer Complete Fuel Solutions
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Dover Corporation’s (DOV - Free Report) business unit Dover Fueling Solutions (“DFS”) teams up with Bottomline to offer a comprehensive, end-to-end fuel management solution to end customers. Bottomline is a Dutch supplier of software, planning and transport services in the oil and gas sector.
Bottomline's fuel logistics software package and services allow customers to schedule, administer, execute, track and analyze the fuel transportation from depot to fuel stations and end customers while lowering logistical costs and strengthening the supply chain.
DFS serves the fuel and convenience retail industry with innovative customer-centric technologies, services and solutions. Its wetstock management services gather data to monitor fuel tanks and provide protection against any possible loss by rapidly detecting the source and providing real-time analysis. DFS and Bottomline will offer one combined fuel management solution to customers that can save retailers’ costs by 5-10% through automated operations and an improved fuel supply chain.
This agreement will offer customers increased exposure to transport logistics and on-site monitoring while providing them with the tools they need to measure performance, recognize gaps and automate processes.
Dover has been gaining from robust order trends across most of its businesses for a while, stemming from strong end-market demand. In the Engineered Products segment, demand for engineered products, vehicle service and industrial automation has been solid. The Clean Energy and Fueling segment will gain from solid growth in below-ground retail fueling, fuel transport vehicle wash and industrial gases. The Imaging & Identification segment will gain from the recovery in component shortages from second-quarter COVID shutdowns in China, with demand improvement in textiles. In the Pumps & Process Solutions segment, industrial pumps and polymer processing activity remains solid and precision components continue their upward growth trajectory in bearings and compressor components.
The company is well poised to deliver robust top-line growth, margin expansion and double-digit earnings per share (EPS) growth in 2022, driven by a strong backlog, margin conversion efforts, benefits from acquisitions, capacity expansion investments and productivity improvement. DOV expects adjusted EPS to be between $8.45 and $8.65 for 2022. Organic revenue growth is expected between 8-10% for 2022. Also, the company’s productivity and cost-control initiatives will continue to drive bottom-line growth.
Dover invests in capacity expansions in high-growth businesses and productivity improvements across its portfolio. It has a long tradition of making successful acquisitions in diverse end markets. The company completed the Malema buyout, which has now become part of the Pump Solution Group business unit within Dover's Pumps & Process Solutions segment. The acquisition will expand the company’s biopharma single-use production offering. Dover will remain active on the buyout front in the current year. This April, Dover acquired certain intellectual property associated with electrically-operated refuse collection vehicle bodies from Boivin Evolution Inc. The buyout will expand the technological footprint and product portfolio of Dover’s Environmental Solutions Group business unit within its Engineered Products segment.
Price Performance
Dover’s shares have declined 19.4% in the past year compared with the industry’s fall of 10.7%.
Applied Industrial has an estimated earnings growth rate of 10.9% for fiscal 2023. In the past 60 days, the Zacks Consensus Estimate for fiscal 2023 earnings has been revised upward by 6%.
Applied Industrial pulled off a trailing four-quarter earnings surprise of 22.8%, on average. AIT’s shares have soared 32.2% in a year.
Greif has an estimated earnings growth rate of 37% for the current year. In the past 60 days, the Zacks Consensus Estimate for current-year earnings has been revised upward by 17%.
Greif pulled off a trailing four-quarter earnings surprise of 22.9%, on average. GEF’s shares have risen 18.6% in the past year.
Sonoco has an expected earnings growth rate of 78.3% for 2022. The Zacks Consensus Estimate for the current year’s earnings moved up 18% in the past 60 days.
Sonoco has a trailing four-quarter earnings surprise of 4.06%, on average. SON’s shares have moved up 1.7% in the past year.
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Dover's (DOV) Arm Inks Deal to Offer Complete Fuel Solutions
Dover Corporation’s (DOV - Free Report) business unit Dover Fueling Solutions (“DFS”) teams up with Bottomline to offer a comprehensive, end-to-end fuel management solution to end customers. Bottomline is a Dutch supplier of software, planning and transport services in the oil and gas sector.
Bottomline's fuel logistics software package and services allow customers to schedule, administer, execute, track and analyze the fuel transportation from depot to fuel stations and end customers while lowering logistical costs and strengthening the supply chain.
DFS serves the fuel and convenience retail industry with innovative customer-centric technologies, services and solutions. Its wetstock management services gather data to monitor fuel tanks and provide protection against any possible loss by rapidly detecting the source and providing real-time analysis. DFS and Bottomline will offer one combined fuel management solution to customers that can save retailers’ costs by 5-10% through automated operations and an improved fuel supply chain.
This agreement will offer customers increased exposure to transport logistics and on-site monitoring while providing them with the tools they need to measure performance, recognize gaps and automate processes.
Dover has been gaining from robust order trends across most of its businesses for a while, stemming from strong end-market demand. In the Engineered Products segment, demand for engineered products, vehicle service and industrial automation has been solid. The Clean Energy and Fueling segment will gain from solid growth in below-ground retail fueling, fuel transport vehicle wash and industrial gases. The Imaging & Identification segment will gain from the recovery in component shortages from second-quarter COVID shutdowns in China, with demand improvement in textiles. In the Pumps & Process Solutions segment, industrial pumps and polymer processing activity remains solid and precision components continue their upward growth trajectory in bearings and compressor components.
The company is well poised to deliver robust top-line growth, margin expansion and double-digit earnings per share (EPS) growth in 2022, driven by a strong backlog, margin conversion efforts, benefits from acquisitions, capacity expansion investments and productivity improvement. DOV expects adjusted EPS to be between $8.45 and $8.65 for 2022. Organic revenue growth is expected between 8-10% for 2022. Also, the company’s productivity and cost-control initiatives will continue to drive bottom-line growth.
Dover invests in capacity expansions in high-growth businesses and productivity improvements across its portfolio. It has a long tradition of making successful acquisitions in diverse end markets. The company completed the Malema buyout, which has now become part of the Pump Solution Group business unit within Dover's Pumps & Process Solutions segment. The acquisition will expand the company’s biopharma single-use production offering. Dover will remain active on the buyout front in the current year. This April, Dover acquired certain intellectual property associated with electrically-operated refuse collection vehicle bodies from Boivin Evolution Inc. The buyout will expand the technological footprint and product portfolio of Dover’s Environmental Solutions Group business unit within its Engineered Products segment.
Price Performance
Dover’s shares have declined 19.4% in the past year compared with the industry’s fall of 10.7%.
Image Source: Zacks Investment Research
Zacks Rank and Stocks to Consider
Dover currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Applied Industrial Technologies, Inc. (AIT - Free Report) , Greif Inc. (GEF - Free Report) and Sonoco Products Company (SON - Free Report) . While AIT sports a Zacks Rank #1 (Strong Buy), GEF & SON carry a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Applied Industrial has an estimated earnings growth rate of 10.9% for fiscal 2023. In the past 60 days, the Zacks Consensus Estimate for fiscal 2023 earnings has been revised upward by 6%.
Applied Industrial pulled off a trailing four-quarter earnings surprise of 22.8%, on average. AIT’s shares have soared 32.2% in a year.
Greif has an estimated earnings growth rate of 37% for the current year. In the past 60 days, the Zacks Consensus Estimate for current-year earnings has been revised upward by 17%.
Greif pulled off a trailing four-quarter earnings surprise of 22.9%, on average. GEF’s shares have risen 18.6% in the past year.
Sonoco has an expected earnings growth rate of 78.3% for 2022. The Zacks Consensus Estimate for the current year’s earnings moved up 18% in the past 60 days.
Sonoco has a trailing four-quarter earnings surprise of 4.06%, on average. SON’s shares have moved up 1.7% in the past year.