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Dover (DOV) Earnings Top, Revenues Lag Estimates in Q2

Zacks Equity Research

Dover Corporation DOV is an industrial conglomerate producing wide range of specialized industrial products and manufacturing equipment. The company reported adjusted earnings per share (EPS) of $1.56 in second-quarter 2019, beating the Zacks Consensus Estimate of $1.55. Earnings also improved 20% year over year.

Revenue: Dover posted revenues of $1,811 million, which missed the Zacks Consensus Estimate of $1,861 million.

Outlook:  For 2019, Dover’s adjusted EPS guidance is at $5.75-$5.85.
Estimate Trend & Surprise History

Investors should note that the earnings estimate revisions for Dover for the second quarter have been stable ahead of the earnings release. The Zacks Consensus Estimate currently stands at $1.55 for the quarter.
As regards earnings surprise, Dover has outpaced the Zacks Consensus Estimate in each of the past four quarters, with an average beat of 8.61%.

Dover Corporation Price and EPS Surprise

Dover Corporation Price and EPS Surprise

Dover Corporation price-eps-surprise | Dover Corporation Quote

Zacks Rank: Currently, Dover has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Market Reaction: Dover’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.

Check back later for our full write up on this Dover earnings report later!

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