Dover Corporation Earnings Recaps
Q3 2025
Oct 23, 2025
Dover's Q3 2025 results demonstrated solid performance, with revenue growing 5% and record EBITDA margins of 26.1%, supported by strong order trends and strategic acquisitions.
Key takeaways
- Adjusted EPS rose 15% year-over-year, prompting management to increase full-year guidance from $9.35-$9.55 to $9.50-$9.60.
- Strong organic growth in Clean Energy & Fueling (+5%) and Pumps & Process Solutions (+6%) highlights robust demand in key markets.
- Consolidated bookings were up 8%, with a notable 25% increase in Climate & Sustainability Technologies, indicating a positive outlook for the segment.
- Free cash flow reached $631 million (11% of revenue), signaling strong operational efficiency and cash generation improvement.
- Margin enhancements observed across all segments, underscored by effective cost management and product mix optimization.
Q2 2025
Jul 25, 2025
Dover's Q2 2025 results reflected strong operational performance and strategic capital deployment, highlighted by a 16% increase in adjusted EPS and record adjusted segment EBITDA margins exceeding 25%. Full-year adjusted EPS guidance has been raised to $9.35 - $9.55.
Key takeaways
- Revenue growth was bolstered by a 7% year-over-year increase in consolidated orders, indicating robust demand across multiple segments.
- Achieved a record adjusted EBITDA margin above 25%, driven by effective cost management and a favorable product mix.
- Year-to-date free cash flow reached $261 million, or 7% of revenue, with expectations for acceleration in the second half.
- Strategic acquisitions in the Pumps & Process Solutions segment contribute to ongoing growth in high-margin areas.
- Management is optimistic about the second half, with a healthy order backlog supporting positive revenue and margin trends.