Dover Cuts FY Guidance; Stock Down 4%

(RTTNews) - Dover Corp (DOV), a maker of specialized products and components, on Thursday slashed its full-year 2015 earnings and revenue guidance.

The company cited weakness in the North American oil and gas markets, as well as muted capital spending in retail refrigeration and certain industrial end-markets as factors behind the revised guidance.

Dover now expects full-year earnings of $3.75 to $3.90 per share, compared with prior guidance of $4.20 to $4.40 per share; and revenue to decline 8% to 9%, compared with prior expectations of a 4% to 6% decline.

Analysts expect Dover to report earnings of $4.16 per share and revenue to decline of 6.1% for 2015.

Dover will release its second-quarter earnings on July 21.