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Dover Q3 profit climbs 30.7% YOY

Dover Corp. said its normalized net income for the third quarter came to 98 cents per share, compared with the S&P Capital IQ consensus estimate of $1.12 per share.

EPS rose 30.1% year over year from 75 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $154.3 million, a gain of 30.7% from $118.1 million in the prior-year period.

The normalized profit margin climbed to 7.7% from 6.9% in the year-earlier period.

Total revenue rose 17.5% year over year to $2.01 billion from $1.71 billion, and total operating expenses grew 15.7% year over year to $1.72 billion from $1.49 billion.

Reported net income grew 38.0% on an annual basis to $179.6 million, or $1.14 per share, from $130.1 million, or 83 cents per share.