3 Stocks Buzzing on Trading Screens as Earnings are Digested
Dover Corp (NYSE:DOV) reported its results for the fourth quarter. Net income for the diversified machinery company rose to $278.3 million ($1.49 per share) vs. $198.3 million ($1.04 per share) in the same quarter a year earlier. This marks a rise of 40.3% from the year earlier quarter. Revenue rose 15.4% to $2 billion from the year earlier quarter. DOV reported adjusted net income of $1.07 per share. By that measure, the company beat the mean estimate of $1.03 per share. Analysts were expecting revenue of $2.03 billion.
Commenting on the fourth quarter results, Dover’s President and Chief Executive Officer, Robert A. Livingston, said, “Capped off by a solid fourth quarter, Dover delivered a record setting 2011 in terms of revenue, earnings, EPS and bookings. Organic revenue growth in the fourth quarter of 6% was driven by broad-based strength in energy, handsets, fluids, and industrial end-markets. Our segment margin was 16.5%, where solid performances in our Energy, Communication Technologies and Engineered Systems segments partially offset weakness in Printing & Identification and acquisition-related costs. The majority of our businesses continued to book well as we ended the year with a seasonally normal book-to-bill of 1.00.”
Competitors to Watch: Illinois Tool Works Inc. (NYSE:ITW), Danaher Corporation (NYSE:DHR), Spectrum Control, Inc. (NASDAQ:SPEC), Actuant Corporation (NYSE:ATU), SPX Corporation (NYSE:SPW), Gardner Denver, Inc. (NYSE:GDI), 3M Company (NYSE:MMM), IDEX Corporation (NYSE:IEX), The LGL Group, Inc. (AMEX:LGL), and AMETEK, Inc. (NYSE:AME).
Jacobs Engineering Group Inc. (NYSE:JEC) reported its results for the first quarter. Net income for the technical services company rose to $89.7 million (70 cents per share) vs. $65.8 million (52 cents per share) in the same quarter a year earlier. This marks a rise of 36.3% from the year earlier quarter. Revenue rose 11.7% to $2.63 billion from the year earlier quarter. JEC fell in line with the mean analyst estimate of 70 cents per share. It fell short of the average revenue estimate of $2.7 billion.
Commenting on the Company’s earnings outlook for the remainder of fiscal 2012, Jacobs Chief Financial Officer John W. Prosser, Jr. stated, “With first quarter results in-line with our expectations, we are maintaining our guidance at $2.80 to $3.20 per share.”
Competitors to Watch: Fluor Corporation (NYSE:FLR), URS Corporation (NYSE:URS), The Shaw Group Inc. (NYSE:SHAW), Tetra Tech, Inc. (NASDAQ:TTEK), KBR, Inc. (NYSE:KBR), Michael Baker Corporation (AMEX:BKR), AECOM Technology Corp. (NYSE:ACM), Granite Construction Inc. (NYSE:GVA), Willdan Group, Inc. (NASDAQ:WLDN), and Quanta Services, Inc. (NYSE:PWR).
Owens Illinois Inc. (NYSE:OI) reported its results for the fourth quarter. Loss widened to $771 million ($4.69 per diluted share) from $412.1 million (loss of $2.52 per share) in the same quarter a year earlier. Revenue rose 5.2% to $1.82 billion from the year earlier quarter. OI reported adjusted net income of 48 cents per share. By that measure, the company beat the mean estimate of 46 cents per share. Analysts were expecting revenue of $1.8 billion.
Chairman and Chief Executive Officer Al Stroucken said, “We increased our free cash flow generation over prior year levels and focused on debt reduction in the second half of the year. Stronger shipments across all of our regions in 2011 were driven by prior year acquisitions and organic growth. However, high cost inflation and operational issues impacted our earnings for the full year. We took immediate action and refocused on our operations, and we are increasing prices to recover inflation.”
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