Dover Q3 Profit Declines - Quick Facts

(RTTNews) - Dover Corp. (DOV) reported third-quarter net earnings of $231.8 million, or $1.38 per share, compared to $269.1 million, or $1.56 per share, in the comparable quarter last year. Earnings from continuing operations were $232.8 million, or $1.38 per share, compared to $226.2 million, or $1.31 per share, in the prior year period. Adjusted earnings per share from continuing operations was $1.35 for the quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $1.31 for the quarter. Analysts' estimates typically exclude special items.

Revenue was $2.09 billion, up 8% from $1.94 billion, prior year. The revenue increase was driven by organic growth of 4% and an increase of 4% from acquisitions, with a negligible impact from foreign exchange. Analysts expected revenue of $2.04 billion for the quarter.

For the full year, the company now expects adjusted earnings per share to be in the range of $4.75 to $4.85, a $0.05 reduction to the high end of the prior guidance, largely reflecting the impact of recent acquisitions. The company now expects total revenue growth of about 8% and organic growth to be about 4%. Analysts expect the company to report full year earnings per share of $4.75.