Dover Corp. has narrowed its earnings expectations for the year, citing recent acquisitions.
The Downers Grove-based maker of industrial equipment said it now expects annual earnings of between $4.75 and $4.80 a share. The company previously forecast earnings of up to $4.85 a share.
The company on Thursday reported third-quarter net earnings rose 8.6 percent to $231.8 million compared with $269.1 million a year earlier. Diluted earnings per share rose 5.3 percent to $1.38 compared with $1.31 a year ago. Dover said revenue increased 7.7 percent to $2.09 billion in the quarter ended Sept. 30.
“I was pleased with our strong finish to the third quarter, during which business activity significantly improved in September after softness in July and August. The result for the quarter was revenue and bookings growth at all segments,” Dover president and chief executive officer Robert A. Livingston said.
Dover buys Accelerated Cos. for $430M
