Brooke Sutherland, Columnist

Wide Whiffs of Dover

Fear of missing out comes with disappointment of actually missing.

October 10, 2016 at 6:59 PM UTC

Brooke Sutherland is Bloomberg News' Boston bureau chief and writes the Industrial Strength Newsletter. She was previously a Bloomberg Opinion columnist covering deals and industrial companies and an M&A reporter for Bloomberg News.

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Don't count your industrial equipment-manufacturer turnarounds before they've hatched.

Dover, the $10.4 billion maker of artificial lifts, compression valves and refrigeration systems, on Monday cut its guidance for 2016 after its businesses performed "well below" expectations in the third quarter. It now expects earnings per share of $3 to $3.05 this year. At the midpoint, that's down 11 percent from its previous guidance. Organic sales will now decline at least 7 percent this year.