Manufacturing company Dover (NYSE:DOV) will be announcing earnings results tomorrow before market hours. Here’s what to look for.
Dover missed analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $1.98 billion, up 1.3% year on year. It was a slower quarter for the company, with a miss of analysts’ organic revenue and EBITDA estimates.
Is Dover a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Dover’s revenue to grow 2.5% year on year to $1.95 billion, a reversal from the 11% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.08 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Dover’s peers in the general industrial machinery segment, some have already reported their Q4 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and Crane reported revenues up 2.1%, topping estimates by 1.2%. GE Aerospace traded up 4.5% following the results while Crane was also up 12.3%.
Read our full analysis of GE Aerospace’s results here and Crane’s results here.
There has been positive sentiment among investors in the general industrial machinery segment, with share prices up 3.5% on average over the last month. Dover is up 4.6% during the same time and is heading into earnings with an average analyst price target of $215.08 (compared to the current share price of $198.40).
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