The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Dover met expectations on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased, and earnings per share improved significantly.
Gross margins contracted, operating margins improved, and net margins expanded.
Dover recorded revenue of $2.00 billion. The nine analysts polled by S&P Capital IQ wanted to see revenue of $2.02 billion. Sales were 6.9% higher than the prior-year quarter's $1.90 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $1.07. The earnings estimates compiled by S&P Capital IQ predicted $1.04 per share on the same basis. GAAP EPS of $1.49 for Q4 were 43% higher than the prior-year quarter's $1.04 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 37.8%, 60 basis points worse than the prior-year quarter. Operating margin was 14.7%, 30 basis points better than the prior-year quarter. Net margin was 13.9%, 330 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $2.0 billion. On the bottom line, the average EPS estimate is $1.02.
Next year's average estimate for revenue is $8.65 billion. The average EPS estimate is $4.87.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 262 members out of 276 rating the stock outperform, and 14 members rating it underperform. Among 87 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 86 give Dover a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Dover is outperform, with an average price target of $67.27.
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