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.
In the second quarter, June revenues and earnings had significantly improved from April's results. The company expects to see this trend in the third quarter as well and subsequently an improved second half of the year. However, generally weaker capital spending across several industrial end markets, continued weakness in longer cycle oil and gas exposed markets, and persistent headwinds in its retail refrigeration business related to production inefficiencies are expected to affect Dover’s results.
We have highlighted some of the key stats from this just revealed third-quarter earnings announcement below:
Estimate Trend & Surprise History
Investors should note that the earnings estimate revisions for Dover have moved south ahead of the earnings release. The Zacks Consensus Estimate has gone down 20% over the last 30 days and currently stands at 82 cents 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 1.21%.
DOVER CORP Price and EPS Surprise