Dover Q2 2020 Earnings Report
Key Takeaways
Dover reported a revenue of $1.5 billion, a 17% decrease compared to the second quarter of the prior year. GAAP net earnings decreased by 37% to $125 million, with a GAAP diluted EPS of $0.86, down by 36%. Adjusted net earnings were $164 million, a 28% decline, and adjusted diluted EPS was $1.13, also down by 28%. The company re-initiated its full-year guidance, expecting GAAP EPS in the range of $4.16 to $4.41 ($5.00 to $5.25 on an adjusted basis).
Revenue declined by 17% year-over-year, with organic revenue down by 16%.
GAAP net earnings decreased by 37%, and GAAP diluted EPS decreased by 36%.
Adjusted net earnings decreased by 28%, and adjusted diluted EPS decreased by 28%.
Full-year 2020 guidance was reinstated with GAAP EPS expected to be in the range of $4.16 to $4.41.
Dover
Dover
Dover Revenue by Segment
Forward Guidance
Dover expects to generate GAAP EPS in the range of $4.16 to $4.41 ($5.00 to $5.25 on an adjusted basis) for the full year 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income