Dover Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported revenue was $2,017,438,000 against $1,777,961,000 a year ago. Operating earnings was $199,344,000 against $164,082,000 a year ago. Earnings before (benefit) provision for income taxes were $273,652,000 against $216,033,000 a year ago. Net earnings were $296,448,000 against $161,162,000 a year ago. Diluted earnings per share were $1.88 against $1.03 a year ago. Adjusted net earnings were $178,678,000 or $1.13 diluted per share against $118,424,000 or $0.76 diluted per share a year ago. Net cash provided by operating activities was $319,594,000 against $289,029,000 a year ago. Capital expenditures was $46,586,000 against $49,437,000 a year ago. Adjusted free cash flow was strong at $303 million in the quarter, up 26% over last year.

For the full year, the company reported revenue was $7,830,436,000 against $6,794,342,000 a year ago. Operating earnings was $914,445,000 against $714,446,000 a year ago. Earnings before (benefit) provision for income taxes were $973,843,000 against $689,332,000 a year ago. Net earnings were $811,665,000 against $508,892,000 a year ago. Diluted earnings per share were $5.15 against $3.25 a year ago. Adjusted net earnings were $635,743,000 or $4.03 diluted per share against $454,926,000 or $2.90 diluted per share a year ago. Net cash provided by operating activities was $821,559,000 against $861,975,000 a year ago. Additions to property, plant and equipment was $196,735,000 against $165,205,000 a year ago. Net debt as of December 31, 2017 was $2,813,840,000 against $3,272,041,000 as of December 31, 2016. The company generated $703 million of adjusted free cash flow, representing 9% of revenue.

For the fiscal 2018, the company expected net earnings per share of $4.75 to $4.95, adjusted net earnings per share of $4.80 to $5.00 and adjusted net earnings per share on new basis of $5.73 to $5.93, representing an increase of 19% over the prior year on a comparable basis. This guidance is based on full year revenue growth of 3% to 5%, and is comprised of organic growth of 5% to 7% and a favorable impact from FX of 1%, partially offset by a 3% impact from dispositions. The impact of completed acquisitions is expected to be negligible. Net interest expense of $130 million, tax rate of 22% to 23%, capital expenditure of $2.4% of revenue and adjusted free cash flow of $10% to 11% of revenue.