Why Dover Shares Are Sliding Today
Portfolio Pulse from Lekha Gupta
Dover Corp (NYSE:DOV) reported a Q2 2023 revenue decline of 3% Y/Y to $2.10 billion, missing the consensus of $2.20 billion. Adjusted EPS declined 4% Y/Y to $2.05, also missing the consensus of $2.20. The company's ERP system upgrade disrupted manufacturing and shipment, reducing revenue and EPS. Dover revised its 2023 guidance, expecting adjusted EPS of $8.85-$9.00 and revenue growth of 2%-4%. DOV shares are trading lower by 3.35% premarket.
July 25, 2023 | 12:48 pm
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Dover Corp reported lower than expected Q2 2023 revenue and EPS, leading to a drop in its share price.
Dover Corp's lower than expected Q2 2023 revenue and EPS, along with the disruption caused by its ERP system upgrade, have negatively impacted investor sentiment, leading to a drop in its share price.
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