Dover Corp. (NYSE: DOV) announced that it has reduced its forecast for 2015 full-year revenue and diluted earnings per share from continuing operations ("EPS").

The Company now expects full-year revenue to decline -8% to -9% versus a prior revenue forecast of -4% to -6%. This revised forecast includes organic revenue of -7% to -8%, a -4% impact from foreign currencies, and growth from completed acquisitions of 3%. The primary factors driving this revision are continued weak fundamentals in the North American oil & gas markets, and generally weaker capital spending in retail refrigeration and certain industrial end-markets. Full-year EPS is now anticipated to be in the range of $3.75 - $3.90, as compared to its prior guidance of $4.20 - $4.40. This new forecast represents a $0.50 reduction to the high-end of the prior guidance and a $0.45 reduction to the low-end.

*** The Street sees FY15 revenue of $7.28 billion and EPS of $4.16.

Dover's President and Chief Executive Officer, Robert A. Livingston, said, "Our results continue to be impacted by diminished demand and significant customer inventory reductions in our North American Energy markets. The second quarter was also impacted by reduced activity tied to customer capital spending in retail refrigeration, oil & gas related pump markets and our industrial businesses within Engineered Systems. We anticipate capital spending in these markets to remain muted for the balance of the year. These factors will cause our full-year results to be below those we have previously communicated. While markets remain tough, we continue to focus on cost and productivity initiatives, and investing for future growth."

Dover will release second quarter 2015 earnings at 6:00 a.m. Central time (7:00 a.m. Eastern time) on Tuesday, July 21, 2015. Later that morning, Dover will host a conference call at 9:00 a.m. Central time (10:00 a.m. Eastern time) to discuss these results. To participate on the conference call, please dial 1-866-882-5865 (domestic) or 1-678-894-3017, reservation number 67983014.