Manufacturing company Dover (NYSE: DOV) will be reporting earnings this Thursday morning. Here’s what you need to know.
Dover beat analysts’ revenue expectations last quarter, reporting revenues of $2.10 billion, up 8.8% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ organic revenue estimates but a significant miss of analysts’ adjusted operating income estimates.
Is Dover a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Dover’s revenue to grow 7.5% year on year, improving from its flat revenue in the same quarter last year.
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. Dover has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Dover’s peers in the industrial machinery segment, some have already reported their Q1 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 29%, beating analysts’ expectations by 8.3%, and 3M reported revenues up 3.9%, in line with consensus estimates.
Read our full analysis of GE Aerospace’s results here and 3M’s results here.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 11.2% on average over the last month. Dover is up 3.7% during the same time and is heading into earnings with an average analyst price target of $232.44 (compared to the current share price of $220.22).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
