Manufacturing company Dover (NYSE: DOV) will be reporting earnings this Thursday before the bell. Here’s what to look for.
Dover missed analysts’ revenue expectations last quarter, reporting revenues of $2.19 billion, up 6.9% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ EBITDA estimates but organic revenue in line with analysts’ estimates.
Is Dover a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Dover’s revenue to grow 6.7% year on year, improving from the 4.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Dover has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Dover’s peers in the industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 17.5%, beating analysts’ expectations by 3.3%, and 3M reported revenues up 4.2%, in line with consensus estimates.
Read our full analysis of GE Aerospace’s results here and 3M’s results here.
Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). While some of the industrial machinery stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5.1% on average over the last month. Dover is up 5.3% during the same time and is heading into earnings with an average analyst price target of $238.21 (compared to the current share price of $195.92).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
