Dover reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Dover announced earnings per share of $1.39 on revenue of $1.66B. Analysts polled by anticipated EPS of $1.21 on revenue of $1.68B. That with comparison to EPS of $1.24 on revenue of $1.72B in the same period a year before. Dover had reported EPS of $1.54 on revenue of $1.78B in the previous quarter. Analysts are expecting EPS of $1.18 and revenue of $1.59B in the upcoming quarter.
Dover shares are down 25% from the beginning of the year , still down 28.51% from its 52 week high of $120.26 set on February 19. They are under-performing the S&P 500 which is down 12.99% year to date.
Dover follows other major Basic Materials sector earnings this month
Dover's report follows an earnings beat by Stora Enso Oyj PK on Tuesday, who reported EPS of $0.12 on revenue of $2.21B, compared to forecasts EPS of $0.11 on revenue of $2.61B.
Crown had beat expectations on Monday with first quarter EPS of $1.13 on revenue of $2.76B, compared to forecast for EPS of $0.92 on revenue of $2.73B.
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