Dover Lifts 2017 Outlook

(RTTNews) - Dover (DOV) said that it raised its full year 2017 guidance, as a result of its strong second quarter performance and increased confidence in the back half of the year.

The company now expect full year earnings per share to be in the range of $4.23 to $4.33, versus prior guidance of $4.05 to $4.20. Analysts polled by Thomson Reuters expect the company to report earnings of $4.22 per share for fiscal year 2017. Analysts' estimates typically exclude special items.

The revised guidance is based on full year revenue growth of 12% to 14% versus its prior forecast of 11% to 13%, and includes organic growth of 5% to 7%, which has been increased one percentage point. The revenue forecast also includes acquisition growth of 10%, a 2% impact from dispositions, and a 1% headwind from FX, all of which remain unchanged from prior forecast.