Dover Corp (DOV) Quote - XNYS | Morningstar

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Despite Near-Term Headwinds, Dover Outperforms Market Expectations; We Raise Fair Value Estimate

Equity Analyst Joshua Aguilar

Joshua Aguilar Equity Analyst

Analyst Note

| Joshua Aguilar | Oct 19, 2021

Dover produced strong third-quarter results. Revenue came in at $2.02 billion versus our expectations of $1.99 billion, good for a 15.4% year-on-year increase (or 13.2% on an organic basis). And while the third-quarter EPS print came in slightly below our forecast of $2.04 (versus $1.98 of actual results, and up 24.3% year on year), we were directionally correct as results appreciably surpassed even the top end of FactSet consensus.

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Company Profile

Business Description

Dover is a diversified industrial manufacturing company with products and services that include digital printing for fast-moving consuming goods, marking and coding for the food and beverage industry, loaders for the waste collection industry, pumps for the transport of fluids, including petroleum and natural gas, and commercial refrigerators used in groceries and convenience stores. Most of the business operates in the United States. After the spin-off of Apergy, the company operates through five segments: engineered systems, fueling solutions, imaging and identification, pumps and process solutions, and refrigeration and food equipment.

Contact

3005 Highland Parkway
Downers Grove, IL, 60515

T +1 630 541-1540

agaliuk@dovercorp.com

www.dovercorporation.com

Sector Industrials

Industry Specialty Industrial Machinery

Most Recent Earnings Sep 30, 2021

Fiscal Year End Dec 31, 2021

Stock Type Cyclical

Employees 23,000

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