SNA - Is the Market Overreacting to Dover's Earnings?
Dover (NYSE: DOV) is a diversified manufacturing company that makes products related to the design, manufacture and service of critical equipment and components for consumer goods, digital textile printing, vehicle service, environmental solutions, retail fueling, chemical, hygienic, oil and gas, power generation, commercial refrigeration, food equipment, and industrial end markets.
The company reported its quarterly earnings Oct. 17 and shared that it had 6% organic revenue growth, along with a 15% expansion in adjusted net earnings. Adjusted operating margin expanded 180 basis points, which the company attributed to volume leverage. The company's strong performance in the quarter allowed management to reaffirm its guidance, raising the bottom end of the range.
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