Dover Corp. (DOV) Misses Q4 EPS by 1c; Guides Well-Above Street

Dover Corp. (NYSE: DOV) reported Q4 EPS of $1.03, $0.01 worse than the analyst estimate of $1.04. Revenue for the quarter came in at $2 billion versus the consensus estimate of $2.01 billion.

GUIDANCE:

Dover Corp. sees FY2018 EPS of $5.73-$5.93, versus the consensus of $4.69.

2018 Guidance:

Beginning in 2018, Dover will provide adjusted EPS guidance and results that will exclude after-tax acquisition-related amortization. The Company believes reporting adjusted EPS on this basis better reflects its core operating results, offers more transparency and facilitates easier comparability with peer companies.

A full reconciliation between forecasted GAAP and forecasted adjusted measures, reflecting adjustments for aforementioned acquisition-related amortization as well as carryover rightsizing costs, is included as an exhibit herein.

In 2018, Dover expects to generate adjusted diluted earnings per 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 full year revenue growth of 3% to 5%, and is comprised of organic growth of 5% to 7% and a favorable impact from FX of 1%, partially offset by a 3% impact from dispositions. The impact of completed acquisitions is expected to be negligible.

Dover\'s guidance for 2018 includes full year Wellsite operating performance, but does not include any costs related to the Wellsite separation, which will be reported as incurred.

For earnings history and earnings-related data on Dover Corp. (DOV) click here.

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