Dover Lifts FY22 Earnings, Organic Growth View; Backs Adj. Earnings Forecast Above Market Estimate

(RTTNews) - While reporting higher results for the second quarter on Thursday, diversified manufacturer Dover Corp. (DOV) lifted fiscal 2022 forecast for reported earnings and organic revenue growth. Further, the company maintained its adjusted earnings guidance above market estimate, and revenue growth outlook.

For fiscal 2022, the company continues to project adjusted earnings in the range of $8.45 to $8.65 per share on revenue growth of 8 to 10 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.44 per share for the year. Analysts' estimates typically exclude special items.

On a reported basis, earnings for the year would be $7.44 to $7.64 per share, compared to previous estimate of $7.39-$7.59 per share.

Organically, revenue is expected to increase 8 percent to 10 percent, compared to previous outlook of 7 to 9 percent.