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September 01, 2020 1:41pm
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Dover (DOV) To Report Earnings Tomorrow: Here Is What To Expect

DOV Cover Image

Manufacturing company Dover (NYSE:DOV) will be reporting results tomorrow before market hours. Here’s what to expect.

Dover missed analysts’ revenue expectations by 9.3% last quarter, reporting revenues of $1.95 billion, up 1.8% year on year. It was a softer quarter for the company, with a miss of analysts’ EBITDA and earnings 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 2.1% year on year to $2 billion, a reversal from the 9.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.18 per share.

Dover Total Revenue

Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 8 downward revisions over the last 30 days (we track 9 analysts). Dover has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Dover’s peers in the general industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. 3M’s revenues decreased 3.2% year on year, meeting analysts’ expectations, and General Electric reported revenues up 5.2%, falling short of estimates by 4.7%.

Read our full analysis of 3M’s results here and General Electric’s results here.

Investors in the general industrial machinery segment have had steady hands going into earnings, with share prices flat over the last month. Dover is up 1.7% during the same time and is heading into earnings with an average analyst price target of $203.32 (compared to the current share price of $195.93).

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