Dover Corp. (DOV) reported that its first-quarter net earnings increased to $210.00 million or $1.20 per share, from $196.06 million or $1.05 per share last year. Profit per share from continuing operations was $1.12, compared to $1.00 prior year. Excluding items, adjusted profit per share from continuing operations was $1.10, compared to $1.01 prior-year.
Revenue rose to $2.04 billion from $1.96 billion last year. The revenue increase was driven by a 6% increase from acquisitions offset by organic decline of 1% and a minor impact from foreign exchange. The company said it achieved solid revenue growth from businesses serving the production and downstream energy markets and the consumer electronics market. These results helped offset the anticipated revenue decline driven by a lower North American rig count and reduced refrigeration activity, principally associated with a major retailer, as well as soft European industrial markets.
On average, 18 analysts polled by Thomson Reuters expected the company to report profit of $1.08 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $2.07 billion for the quarter.
Looking ahead, the company said its full year view of 2013 is essentially unchanged from previous guidance. The company continues to expect full year organic growth of 3% to 5%, complemented by acquisition growth of 4%, resulting in total revenue growth of 7% to 9%. Dover reaffirmed its full-year profit per share from continuing operations to be in the range of $5.05-$5.35. Analysts currently expect the company to report full year 2013 profit per share of $5.23 on revenue of $8.72 billion.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.