Dover Corporation (DOV - Free Report) is an industrial conglomerate producing a wide range of specialized industrial products and manufacturing equipment. The company reported adjusted earnings per share (EPS) of $1.13 in second-quarter 2020, beating the Zacks Consensus Estimate of 89 cents per share. Earnings, however, declined 28% year over year.

Revenue

Dover posted revenues of $1,499 million, which beat the Zacks Consensus Estimate of $1,458 million.

Outlook

For 2020, Dover expects adjusted EPS between $5.00 and $5.25.

Estimate Trend & Surprise History

Investors should note that the earnings estimate revisions for Dover for the second quarter have been moving upward ahead of the earnings release. The Zacks Consensus Estimate currently stands at 89 cents for the quarter.

As regards earnings surprise, Dover has outpaced the Zacks Consensus Estimate in each of the past four quarters, with an average beat of 7.13%.

Dover Corporation Price and EPS Surprise

Dover Corporation price-eps-surprise | Dover Corporation Quote

Zacks Rank

Currently, Dover has a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. 

Market Reaction

Dover’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.