Markets
DOV

Dover's (DOV) Q2 Earnings & Revenues Miss Estimates - Tale of the Tape

Dover Corporation (DOV) is an industrial conglomerate producing wide range of specialized industrial products and manufacturing equipment. The company mainly delivers innovative equipment and components, specialty systems and support services through four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment.

Dover witnessed significant headwinds in energy-related markets during the first quarter 2015 similar to the other players in the Industrial Products sector. The company slashed its 2015 outlook citing continued weak fundamentals in the North American oil & gas markets. Dover also cautions that the second quarter has been impacted by reduced activity related to customer capital spending in retail refrigeration, oil & gas related pump markets and in industrial businesses within Engineered Systems.

We have highlighted some of the key stats from this just revealed announcement below:

Estimate Trend & Surprise History

Investors should note that the earnings estimate revisions for Dover has been revised downward during last 30 days.

Dover has a varied earnings surprise history. Overall, the company posted a positive average earnings surprise of 2.00% in the last four trailing quarters.

Earnings

Dover missed second quarter 2015 earnings. The Zacks Consensus Estimate called for EPS of $1.00, while the company reported EPS of 97 cents. Investors should note that these figures take out special items.

Revenue

Dover posted revenues of $1.76 billion, fell short the Zacks Consensus Estimate for revenues of 1.81 billion. Revenues declined 10% year over year impacted by decreased demand and customer inventory reductions in Dover's North American Energy markets.

Key Stats

Dover's bookings at the end of second quarter were worth $1.73 billion, which fell roughly 14% from $2 billion at the end of second-quarter 2014. Backlog also declined to $1.16 billion at the end of the reported quarter from $1.40 billion at the year-ago quarter end.

Dover reaffirmed its recently updated 2015 guidance. The company expects full-year revenue to decline 8% to 9%. Within this revenue forecast, organic growth is anticipated to decline 7% to 8%, completed acquisitions will provide approximately 3% growth and foreign exchange is expected to be a 4% headwind. In total, full year adjusted earnings per share is expected to be in the range of $3.75 to $3.90.

Zacks Rank

Currently, Dover has a Zacks Rank #5 (Strong Sell), but that could change following Dover's earnings report which was just released.

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's earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

DOVER CORP (DOV): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

DOV

Other Topics

Earnings Investing Stocks

Latest Markets Videos