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Mar 31, 2021
Dover Q1 2021 Earnings Report
Dover's Q1 2021 results exceeded expectations due to strong volume growth and order trends, leading to raised full-year guidance.
Key Takeaways
Dover reported a strong start to 2021 with first-quarter revenue of $1.9 billion, a 13% increase (+9% organic) compared to the prior year. GAAP net earnings increased 32% to $233 million, and GAAP diluted EPS increased 33% to $1.61. The company raised its full-year revenue and EPS guidance due to strong end market demand, bookings, and a robust backlog.
Revenue increased by 13% (+9% organic) compared to the first quarter of the prior year.
GAAP net earnings increased 32% and GAAP diluted EPS increased 33%.
Adjusted net earnings increased 29% and adjusted diluted EPS increased 30% versus the comparable quarter of the prior year.
Full year 2021 revenue growth guidance was raised to 10% to 12%, and EPS guidance was raised to $5.92 to $6.02 ($6.75 to $6.85 on an adjusted basis).
Revenue by Segment
Forward Guidance
Dover raised its full year 2021 revenue and EPS guidance.
Positive Outlook
- Full year 2021 revenue growth was raised to 10% to 12%.
- EPS guidance for full year 2021 was raised to $5.92 to $6.02 ($6.75 to $6.85 on an adjusted basis).
Challenges Ahead
- Challenges to navigate going forward such as material cost inflation.
- Supply chain bottlenecks.
- Labor availability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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