Dover Reinstates FY20 Earnings Guidance - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Wednesday, diversified manufacturer Dover Corp. (DOV) re-initiated its earnings and adjusted earnings guidance for the full-year 2020, due to improved demand visibility into the third quarter, and solid margin performance year-to-date.

However, the guidance is with a wider range than usual for the mid-year reflecting the fluidity of market conditions.

For fiscal 2020, the company now projects earnings in a range of $4.16 to $4.41 per share and adjusted earnings in a range of $5.00 to $5.25 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.88 per share for the year. Analysts' estimates typically exclude special items.

In April, the company had suspended its prior financial guidance for fiscal 2020, due to the COVID-19 pandemic and the resulting negative impact.

Looking forward, the company said demand outlook for the remainder of the year remains uncertain, with activity across most markets improving but not back to business-as-usual.