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NEW YORK - Dover Corporation (NYSE:DOV) on Thursday reported mixed fourth quarter results, beating earnings expectations but falling short on revenue.
The diversified manufacturer also provided an optimistic outlook for 2025, forecasting earnings above analyst estimates.
Dover posted adjusted earnings per share of $2.20 for the fourth quarter, surpassing the analyst consensus of $2.08. However, revenue came in at $1.93 billion, slightly below the $1.96 billion analysts had projected. Compared to the same quarter last year, revenue increased by 1% while adjusted earnings per share rose 1%.
For the full year 2024, Dover generated revenue of $7.7 billion, up 1% YoY. Adjusted earnings per share for the year reached $8.29, representing a 4% increase from the previous year.
Looking ahead, Dover provided a strong earnings forecast for fiscal year 2025. The company expects earnings per share in the range of $9.30 to $9.50, with the midpoint of $9.40 surpassing the analyst consensus of $9.31.
CEO Richard J. Tobin expressed optimism about the company’s prospects, stating, "We are optimistic about 2025. Underlying demand trends remain solid across the portfolio, as evidenced by our order momentum, and we have significant runway for continued margin improvement through positive mix benefits and numerous cost and performance levers."
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