Dover Raises Full Year EPS Guidance - Quick Facts

(RTTNews) - While reporting third-quarter results on Tuesday, Dover (DOV) said high backlog levels provide beneficial near-term visibility for the remainder of the year and into 2022. As a result, the company increased its full year earnings per share guidance.

For the full year 2021, the company now projects earnings per share in a range of $6.64 to $6.69. Earnings per share, on an adjusted basis, is expected in a range of $7.45 to $7.50. Analysts polled by Thomson Reuters expect the company to report profit per share of $7.42. Analysts' estimates typically exclude special items.

Third quarter adjusted earnings per share was $1.98 compared to $1.60, last year. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $1.85, for the quarter. GAAP net earnings of $264 million increased 32%, and GAAP EPS of $1.81 was up 31%.

For the quarter, revenue was $2.0 billion, an increase of 15%, or up 13% organic, from last year. Analysts expected revenue of $2 billion, for the quarter.