Dover Raises Full Year Revenue & EPS Guidance - Quick Facts


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Dover Raises Full Year Revenue & EPS Guidance - Quick Facts


(RTTNews.com) - Dover ( DOV ) announced, as a result of the solid first quarter performance, higher expectations in Energy, and overall strong bookings activity, the company is raising its full year revenue and EPS guidance. The company now expects full year earnings per share to be in the range of $4.05 to $4.20, versus prior guidance of $3.40 to $3.60. The company noted that its revised guidance includes the gain from recent disposition.

The revised guidance is based on full year revenue growth of 11% to 13% versus prior forecast of 10% to 12%, and is comprised of organic growth of 4% to 6% and acquisition growth of approximately 10%, partially offset by a 2% impact from the dispositions and a 1% headwind from FX. The company noted that its revised revenue forecast is primarily driven by a one point increase in organic growth.

Dover reported first-quarter net earnings of $172.2 million, an increase of 73% as compared to $99.4 million for the prior year period. Net earnings per share were $1.09, compared to $0.64. Excluding items, adjusted EPS was $0.70, an increase of 25% from an adjusted EPS of $0.56 in the prior year period.

Dover's CEO, Robert Livingston, said, "The revenue growth of 12% was broad-based and bookings grew 21%, resulting in a strong book-to-bill of 1.12. Of particular note, organic revenue and bookings grew 4% and 12%, respectively."

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This article appears in: Politics , Fundamental Analysis , World Markets , Stocks , Earnings
Referenced Symbols: DOV


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