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News Breaks
March 5, 2014
08:36 EDTDOVDover announces new segment structure and management appointments
Dover has realigned its businesses into a new segment structure. The company also announced, effective immediately, the promotions of C. Anderson Fincher as CEO of the Engineered Systems and William Johnson as CEO of the Refrigeration & Food Equipment segments. The four segments are: Dover Energy, a segment with 2013 revenue of $1.9B led by Soma Somasundaram as CEO; Dover Engineered Systems, which had 2013 revenue of $2.5B, led by Andy Fincher, formerly EVP of Engineered Systems, as CEO; Dover Fluids, with 2013 revenue of $1.2B, led by William Spurgeon as CEO; and Dover Refrigeration & Food Equipment, with 2013 revenue of $1.9B, led by Bill Johnson as CEO. The realignment will be reflected in Dover's quarterly and full-year financial results.
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July 21, 2015
07:11 EDTDOVDover says Q2 impacted by diminished demand, inventory reductions
CEO Robert Livingston commented, "In the quarter, we continued to be impacted by diminished demand and customer inventory reductions in our North American Energy markets. We were also affected by reduced customer capital spending in retail refrigeration, oil & gas related pump markets and our industrial businesses within Engineered Systems. These factors offset the benefits of our broad-based cost containment initiatives and restructuring actions, causing our overall results to be below our prior expectations."
07:11 EDTDOVDover reports Q2 organic revenue down 10%
The company saw a 4% unfavorable impact from foreign exchange in Q2.
07:02 EDTDOVDover sees FY15 adjusted EPS $3.75-$3.90, consensus $3.78
The EPS includes 16c-19c of restructuring charges. Sees FY15 revenue to decline 8%-9%, consensus $7.04B. The company said completed acquisitions will provide approximately 3% and FX is expected to be a 4% headwind.
07:01 EDTDOVDover reports Q2 EPS 97c, consensus 99c
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July 20, 2015
15:01 EDTDOVNotable companies reporting before tomorrow's open
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