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Here's What Key Metrics Tell Us About Dover Corporation (DOV) Q2 Earnings
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For the quarter ended June 2023, Dover Corporation (DOV - Free Report) reported revenue of $2.1 billion, down 2.7% over the same period last year. EPS came in at $2.05, compared to $2.14 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.18 billion, representing a surprise of -3.47%. The company delivered an EPS surprise of -7.24%, with the consensus EPS estimate being $2.21.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Dover Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Engineered Products: $473.69 million compared to the $533.28 million average estimate based on five analysts. The reported number represents a change of -7.9% year over year.
Revenue- Clean Energy & Fueling: $441.17 million versus the five-analyst average estimate of $490.34 million. The reported number represents a year-over-year change of -10.7%.
Revenue- Climate & Sustainability Technologies: $449 million compared to the $441.82 million average estimate based on five analysts. The reported number represents a change of +3.4% year over year.
Revenue- Pumps & Process Solutions: $465.63 million versus the five-analyst average estimate of $439.26 million. The reported number represents a year-over-year change of +5.6%.
Revenue- Intra-segment eliminations: -$1.33 million versus the five-analyst average estimate of -$1.50 million. The reported number represents a year-over-year change of +27.8%.
Revenue- Imaging & Identification: $271.93 million compared to the $284.91 million average estimate based on five analysts. The reported number represents a change of -1.5% year over year.
Adjusted EBITDA- Engineered Products: $80.38 million versus $100.87 million estimated by four analysts on average.
Adjusted EBITDA- Clean Energy & Fueling: $91.16 million compared to the $104.37 million average estimate based on four analysts.
Adjusted EBITDA- Climate & Sustainability Technologies: $82.97 million versus the four-analyst average estimate of $75.61 million.
Adjusted EBITDA- Pumps & Process Solutions: $140.95 million versus $143.07 million estimated by four analysts on average.
Adjusted EBITDA- Imaging & Identification: $65.08 million versus the four-analyst average estimate of $70.99 million.
Shares of Dover Corporation have returned +6.3% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Dover Corporation (DOV) Q2 Earnings
For the quarter ended June 2023, Dover Corporation (DOV - Free Report) reported revenue of $2.1 billion, down 2.7% over the same period last year. EPS came in at $2.05, compared to $2.14 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.18 billion, representing a surprise of -3.47%. The company delivered an EPS surprise of -7.24%, with the consensus EPS estimate being $2.21.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Dover Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Engineered Products: $473.69 million compared to the $533.28 million average estimate based on five analysts. The reported number represents a change of -7.9% year over year.
- Revenue- Clean Energy & Fueling: $441.17 million versus the five-analyst average estimate of $490.34 million. The reported number represents a year-over-year change of -10.7%.
- Revenue- Climate & Sustainability Technologies: $449 million compared to the $441.82 million average estimate based on five analysts. The reported number represents a change of +3.4% year over year.
- Revenue- Pumps & Process Solutions: $465.63 million versus the five-analyst average estimate of $439.26 million. The reported number represents a year-over-year change of +5.6%.
- Revenue- Intra-segment eliminations: -$1.33 million versus the five-analyst average estimate of -$1.50 million. The reported number represents a year-over-year change of +27.8%.
- Revenue- Imaging & Identification: $271.93 million compared to the $284.91 million average estimate based on five analysts. The reported number represents a change of -1.5% year over year.
- Adjusted EBITDA- Engineered Products: $80.38 million versus $100.87 million estimated by four analysts on average.
- Adjusted EBITDA- Clean Energy & Fueling: $91.16 million compared to the $104.37 million average estimate based on four analysts.
- Adjusted EBITDA- Climate & Sustainability Technologies: $82.97 million versus the four-analyst average estimate of $75.61 million.
- Adjusted EBITDA- Pumps & Process Solutions: $140.95 million versus $143.07 million estimated by four analysts on average.
- Adjusted EBITDA- Imaging & Identification: $65.08 million versus the four-analyst average estimate of $70.99 million.
View all Key Company Metrics for Dover Corporation here>>>Shares of Dover Corporation have returned +6.3% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.