Dover reports Q1 adj. EPS $1.24, consensus $1.10
Reports Q1 revenue $1.73B, consensus $1.69B. Dover's President and CEO, Richard Tobin, said, "Our solid results for Q1 were driven by our businesses winning with their customers and executing on their productivity and cost structure initiatives. Revenue growth was driven primarily by constructive trading conditions across our Fluids and Engineered Systems segments, which posted comparable organic growth rates of 15.1% and 5.8%, respectively, as a result of healthy backlogs and increased throughput in our retail fueling platforms. Refrigeration and Food Equipment organic revenue was up 0.7% in the first quarter, with Dover Food Retail posting a 1.9% organic revenue increase as a result of the modestly improved demand conditions as we had forecasted. As a result of our encouraging start in 2019, Dover is reaffirming our full year 2019 adjusted EPS guidance of $5.65 to $5.85."