Dover Q3 sales miss target

Investor's Business Daily

Dover (DOV) shares fell after the industrial products maker reported higher Q3 profit and sales, but missed analysts' sales target. EPS rose 17% to $1.54, beating by 4 cents a share. Sales grew 2% to $2.25 bil vs. analyst consensus for $2.31 bil. CEO Robert Livingston said sales rose for oil drilling and other energy market products, refrigeration and food equipment, and printing and ID devices. Dover guided for 7% full-revenue growth to about $8.67 bil. Analysts expected $8.75 bil. Dover shares fell 1% to 87.40.

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