Dover Corp

DOV: XNYS (USA)
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Dover Earnings: Flat Year From Divestments and Weak Organic Performance

Dover reported fourth-quarter and full-year results on Jan. 30, marking the completion of a mixed 2024 for the firm. Organic revenue was flat year over year. Earnings per share compounded approximately 4% from 70 basis points of margin expansion due to an improving revenue mix and efficiency gains. We’ve lowered our fair value estimate to $166 per share from $173 to reflect our tempered long-term margin expectations.

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