UPDATE: Dover Posts Better-Than-Expected Q4 Earnings, Lowers FY15 Forecast


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Dover Corp.

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(NYSE: DOV) reported stronger-than-expected earnings for the fourth quarter, but the company lowered its forecast for the year.For the year, Dover now projects earnings of $4.70 to $4.95 per share, on revenue growth of 1% to -2%. The company had estimated earnings of $5.05 to $5.30 per share on revenue growth of 3% to 6%.The Downers Grove, Illinois-based company posted quarterly net earnings of $169.3 million, or $1.02 per share, compared to $194 million, or $1.13 per share, in the year-ago quarter. Adjusted EPS from continuing operations came in at $1.01 in the quarter.Its revenue gained 11% to $1.98 billion. However, analysts were expecting earnings of $0.94 per share on revenue of $2.04 billion.Dover's President and Chief Executive Officer, Robert A. Livingston, said, "We finished the year with a very strong fourth quarter, achieving 11% revenue growth and earnings growth that exceeded expectations. We saw robust topline growth at each segment led by Energy and Fluids at 20% and 10%, respectively, and achieved solid volume leverage.”Dover shares closed at $70.96 yesterday.

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


Posted In: EarningsNewsGuidanceprofit