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Free Post Earnings Research Report: Dover’s Quarterly Sales Jumped 13%; Adjusted EPS Soared 49%

Stock Monitor: Colfax Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 09, 2018 / has just released a free earnings report on Dover Corp. (NYSE: DOV). If you want access to this report all you need to do is sign up now by clicking the following link The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on January 30, 2018. The diversified manufacturer outperformed top- and bottom-line expectations, and provided guidance for FY18. Register today and get access to over 1000 Free Research Reports by joining our site below: is currently working on the research report for Colfax Corporation (NYSE: CFX), which also belongs to the Industrial Goods sector as the Company Dover. Do not miss out and become a member today for free to access this upcoming report at: is focused on giving you timely information and the inside line on companies that matter to you. This morning, Dover most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

Earnings Highlights and Summary

For the fourth quarter ended December 31, 2017, Dover's revenues were $2.02 billion, reflecting an increase of 13% compared to $1.78 billion in Q4 2016. The revenue growth was driven by an organic growth of 8%, an acquisition growth of 6%, and a favorable impact from foreign exchange (FX) of 2%, partially offset by a 3% impact from dispositions. The Company's revenue numbers surpassed analysts' estimates of $1.99 billion.

For the year ended December 31, 2017, Dover's revenues advanced 15% to $7.83 billion compared to $6.79 billion in FY16. The revenue growth was attributed to an organic growth of 8% and an acquisition growth of 10%, partially offset by a 3% impact from dispositions. The impact from FX was negligible.

During Q4 2017, Dover recorded a net benefit of $50.9 million, or $0.32 per share, relating to the enactment of the Tax Cuts and Jobs Act in December 2017 (TCJA). This benefit was primarily derived from the revaluation of deferred tax liabilities, offset, in part, by the recognition of a US tax charge for the deemed repatriation of foreign earnings.

For Q4 2017, Dover's net earnings were $296.45 million, or $1.88 per diluted share, compared to $161.16 million, or $1.03 per diluted share, in Q4 2016; reflecting an increase of 84% and 83%, respectively, on a y-o-y basis. The Company's reported quarter results included a $0.32 net benefit from the TCJA, a $0.70 net benefit from dispositions, and a $0.03 benefit from a reduction to a product recall reserve, while it also included rightsizing and other costs of $0.25 and Wellsite separation-related costs of $0.05. Excluding these aforementioned benefits and costs, Dover's adjusted earnings were $1.13 per share for Q4 2017, up 49% over adjusted earnings of $0.76 per share in Q4 2016, and was ahead of Wall Street's estimates of $1.04 per share.

For FY17, Dover's net earnings totaled $811.67 million, or $5.15 per diluted share, compared to $508.89 million, or $3.25 per diluted share, in FY16; representing an increase of 59% and 58%, respectively, on a y-o-y basis. The Company's FY17 results included a $0.32 per share net benefit from the TCJA, a $1.07 net benefit from dispositions, and a $0.03 benefit from a reduction to a product recall reserve, while it also included rightsizing and other costs of $0.25 and Wellsite separation-related costs of $0.06. Excluding the above mentioned benefits and costs, Dover's adjusted earnings surged 39% to $4.03 per share for FY17 compared to $2.90 for FY16.

Wellsite Separation Update

On December 07, 2017, Dover announced that it expects to spin off the upstream energy businesses within its Energy segment (Wellsite) business. Dover expects to complete the spin-off of Wellsite in May 2018.

For FY17, Wellsite generated revenues of $1.0 billion, while the segment's earnings before interest, tax, depreciation, and amortization (EBITDA) totaled $242 million, excluding costs related to rightsizing and Wellsite separation. For FY18, Wellsite is expected to generate a revenue growth of approximately 16%, and EBITDA of approximately $315 million, before public company costs estimated to be approximately $35 million.


For the full year 2018, Dover is forecasting adjusted earnings per diluted share in the range of $5.73 to $5.93, representing an increase of 19% over the prior year on a comparable basis. This guidance is based on a full year revenue growth of 3% to 5%, and is comprised of an organic growth of 5% to 7% and a favorable impact from FX of 1%, partially offset by a 3% impact from dispositions.

Stock Performance Snapshot

February 08, 2018 - At Thursday's closing bell, Dover's stock dropped 3.72%, ending the trading session at $96.20.

Volume traded for the day: 1.55 million shares, which was above the 3-month average volume of 1.03 million shares.

Stock performance in the last three-month – up 0.04%; previous six-month period – up 10.79%; and past twelve-month period – up 23.71%

After yesterday's close, Dover's market cap was at $15.29 billion.

Price to Earnings (P/E) ratio was at 18.69.

The stock has a dividend yield of 1.95%.

The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry.


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