Dover Earnings: Here’s Why Investors Like These Results
Dover Corp. (NYSE:DOV) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.79%.
Dover Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 23.64% to $1.36 in the quarter versus EPS of $1.10 in the year-earlier quarter.
Revenue: Rose 3.35% to $2.23 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Dover Corp. reported adjusted EPS income of $1.36 per share. By that measure, the company beat the mean analyst estimate of $1.28. It beat the average revenue estimate of $2.19 billion.
Quoting Management: Commenting on the second quarter results, Dover’s President and Chief Executive Officer, Robert A. Livingston, said, “I am very pleased with our results for the second quarter and the actions we’ve taken to strengthen our company. The quarter was driven by broad-based growth, particularly among our businesses serving the consumer electronics and refrigeration markets, with solid contribution from our energy and fluids businesses. In all, we posted strong revenue growth of 9%. Segment margin also expanded, where improved performance at Printing & Identification and Engineered Systems helped drive segment margin to 17.3%, a 30 basis point improvement over last year.”
Key Stats (on next page)…