The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Dover met expectations on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped significantly.
Gross margins dropped, operating margins expanded, net margins dropped.
Dover booked revenue of $2.01 billion. The 13 analysts polled by S&P Capital IQ looked for revenue of $2.00 billion on the same basis. GAAP reported sales were 10% higher than the prior-year quarter's $1.83 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.09. The 16 earnings estimates compiled by S&P Capital IQ predicted $1.07 per share. GAAP EPS of $0.89 for Q4 were 40% lower than the prior-year quarter's $1.49 per share. (The prior-year quarter included $0.44 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 38.4%, 80 basis points worse than the prior-year quarter. Operating margin was 15.1%, 80 basis points better than the prior-year quarter. Net margin was 7.9%, 730 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.12 billion. On the bottom line, the average EPS estimate is $1.17.
Next year's average estimate for revenue is $8.76 billion. The average EPS estimate is $5.24.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 288 members out of 300 rating the stock outperform, and 12 members rating it underperform. Among 107 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 107 give Dover a green thumbs-up, and 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 $70.22.
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