Dover's Q3 Earnings Miss Amid Soft Revenue Growth, Cuts 2024 Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 24 2024
0mins
Should l Buy DOV?
Source: Benzinga
Third-Quarter Results: Dover Corporation reported third-quarter revenue of $1.984 billion, a 1% increase year-over-year but below the expected $2.045 billion. Adjusted EPS was $2.27, missing the consensus estimate, while bookings rose by 5.6% to $1.853 billion.
2024 Outlook: The company lowered its adjusted EPS forecast for 2024 from $9.05–$9.20 to $8.08–$8.18 and revised revenue growth expectations from 3%-4% to 1%-3%, citing strong underlying demand despite challenges in certain sectors.
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Analyst Views on DOV
Wall Street analysts forecast DOV stock price to rise
13 Analyst Rating
9 Buy
4 Hold
0 Sell
Moderate Buy
Current: 221.900
Low
206.00
Averages
228.91
High
256.00
Current: 221.900
Low
206.00
Averages
228.91
High
256.00
About DOV
Dover Corporation is a diversified global manufacturer and solutions provider. Its Engineered Products segment provides a range of equipment, components, software, solutions and services to the vehicle aftermarket, aerospace and defense, and others. Its Clean Energy & Fueling segment provides components, equipment, and software solutions and services. It also designs, manufactures, and supplies vacuum-insulated piping systems for a variety of liquefied gases like nitrogen, oxygen, carbon dioxide, and other industrial gases. Its Imaging & Identification segment supplies precision marking and coding, product traceability, brand protection and digital textile printing equipment. Its Pumps & Process Solutions segment manufactures specialty pumps and flow meters, fluid transfer connectors, engineered precision components, instruments, and digital controls. Its Climate & Sustainability Technologies segment is a provider of energy-efficient equipment, components, and parts.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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