economy
January 29, 2026
We're raising the price target on an industrial stock after beat-and-raise quarter
Dover has a conservative management team that tends to raise estimates as the year progresses.
TL;DR
- Dover's Q4 revenue rose 8.8% year-over-year to $2.1 billion, beating estimates.
- Adjusted earnings per share were $2.51, exceeding the expected $2.48.
- Organic growth was 5%, driven by margin expansion in key units.
- Book-to-bill ratio above 1 signifies a growing backlog.
- Company has exposure to data center and AI infrastructure through thermal connectors and heat exchangers.
- 2026 guidance forecasts sales, organic growth, and earnings slightly ahead of expectations.
- All business segments are expected to see growth and margin expansion in 2026.
- Full-year 2026 revenue guidance is between $8.5 and $8.66 billion.
- Full-year 2026 earnings per share guidance is $10.45 to $10.65.
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