Dover's Q3 Earnings Miss Amid Soft Revenue Growth, Cuts 2024 Outlook
Portfolio Pulse from Lekha Gupta
Dover Corporation reported Q3 earnings that missed expectations, with revenue growth of 1% year-over-year, falling short of the consensus. The company lowered its 2024 outlook for adjusted EPS and revenue growth. Despite challenges in certain segments, Dover's bookings increased, and it completed the divestiture of its Environmental Solutions Group. Dover's stock is down 1.96% following the report. Investors can also gain exposure through ETFs like ProShares S&P Kensho Smart Factories ETF and iShares U.S. Manufacturing ETF.
October 24, 2024 | 2:39 pm
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Dover Corporation's Q3 earnings missed expectations, with revenue growth of 1% year-over-year, below the consensus. The company lowered its 2024 outlook for adjusted EPS and revenue growth, leading to a 1.96% drop in stock price.
Dover's earnings and revenue growth missed expectations, and the company lowered its 2024 outlook, which is likely to negatively impact the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
iShares U.S. Manufacturing ETF includes Dover Corporation, which reported a Q3 earnings miss and lowered its 2024 outlook.
MADE ETF includes Dover, which reported disappointing earnings and a lowered outlook, potentially impacting the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
ProShares S&P Kensho Smart Factories ETF provides exposure to Dover Corporation, which reported a Q3 earnings miss and lowered its 2024 outlook.
MAKX ETF includes Dover, which reported disappointing earnings and a lowered outlook, potentially impacting the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50