Dover Corporation reporting growth in sales in 2021 earnings report
On January 27, 2022, Dover Corporation reported its 2021 results where it has made $7.9 billion in revenue in the entire year, which is an 18% increase from last year. The company has cited many reasons why it has seen growth in the recent years, one of these being the company has seen improvements in its product lines and services, along with overall growth in operations which has seen returns in profitability and earnings. Despite this positive news, the company did cite that the environment in industrial manufacturing has become challenging recently with the labor shortage and supply chain crisis, which has slightly impacted its operations.
ESG|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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