Dover's misses second-quarter revenue estimates
Dover's misses second-quarter revenue estimates July 23 (Reuters) - Industrial equipment maker Dover DOV.N on Thursday reported second-quarter revenue below Wall Street estimates, despite growth across all of its five segments, sending its shares down 7% in premarket trading.
Here are the details:
Dover's second-quarter revenue rose 7% to $2.19 billion from a year ago, but missed analysts' average estimate of $2.21 billion, according to data compiled by LSEG.
The company's adjusted profit rose to $2.74 per share in the quarter ended June 30 from $2.44 per share a year ago.
Analysts on average expected quarterly profit of $2.73 per share.
Profit at its pumps and process solutions unit, which makes thermal connectors for data center liquid cooling systems, rose to $552.7 million in the second quarter from $520.5 million a year earlier.
Dover expects 2025 adjusted earnings of $10.55 to $10.75 per share, up from a prior range of $10.45 to $10.65.
(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Shreya Biswas)
((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com;))
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