DOWNERS GROVE, Ill., June 4, 2025 /PRNewswire/ -- Markem-Imaje, part of Dover (NYSE: DOV) and a global provider of end-to-end supply chain solutions and industrial marking and coding systems, today announced the launch of MB2253, a new black MEK ink specifically formulated for the beverage market. This innovative product meets stringent industry regulations, helping ensure safety and compliance for both producers and consumers.Designed for versatility, MB2253 excels in marking a wide variety of beverage sub ...

Core Insights - Dover Fueling Solutions (DFS) has launched four new power configurations for its Wayne PWR™ DC fast charger product line, ranging from 160kW to 640kW, enhancing flexibility for site hosts and creating new deployment opportunities in retail fueling and charging environments [1][2] Product Expansion - The Wayne PWR line was initially launched in 2024 with a 640kW model, primarily for new retail locations with planned high-capacity electrical upgrades. The new configurations now support existing forecourts and diverse electrical infrastructures, facilitating electrification for both new and established retail fueling locations [2] Strategic Advantages - All Wayne PWR DC fast chargers are manufactured in Austin, TX, ensuring shorter lead times and enhanced supply chain resilience. This localized production allows retailers to plan, deploy, and maintain their EV charging operations with greater confidence [3] Commitment to Clean Energy - The expansion of the Wayne PWR line reflects DFS's commitment to advancing clean energy solutions and meeting the evolving needs of customers. The company aims to equip retailers and commercial site operators with scalable, future-ready solutions that enhance performance and profitability [4] Company Overview - Dover Fueling Solutions is part of Dover Corporation, a leading provider of advanced energy dispensing equipment and solutions for fueling and convenience retail customers worldwide. The company offers a broad range of solutions, including conventional fuel and clean energy products [5] Financial Performance - Dover Corporation, the parent company of DFS, has an annual revenue exceeding $7 billion, showcasing its diversified global manufacturing and solutions provision across various operating segments [6]

Core Insights - Dover Corporation (DOV) is benefiting from strong order bookings, cost-reduction initiatives, and effective margin target execution [1][10] - The company is focusing on capacity expansions in high-growth sectors and productivity improvements across its portfolio [1][5] Order Book and Revenue Growth - DOV has maintained healthy booking levels, with positive organic booking growth for the last six quarters, and expects this trend to continue [3][4] - The company anticipates year-over-year revenue growth of 2-4% for 2025, supported by solid new order intake [4] Strategic Actions and Acquisitions - Dover is implementing restructuring programs to align costs and operations with market conditions, including facility consolidations and headcount reductions [6] - Recent acquisitions include the purchase of Carter Day International's petrochemical division and SIKORA AG for €550 million ($624 million), enhancing its product offerings [7][8] Financial Position - Dover is reducing debt levels and strengthening its balance sheet, with an accelerated share repurchase program to return excess capital to shareholders [10] - The company expects adjusted EPS between $9.20 and $9.40 for 2025, indicating a slight dip from 2024 levels [12] Near-Term Challenges - The aerospace and defense sector has seen lower volumes, which may impact DOV's top line in 2025 [2][12] - Input cost inflation and increased selling, general, and administrative costs are expected to persist, affecting margins [13] Stock Performance - Dover's shares have gained 1% over the past year, contrasting with a 4.8% decline in the industry [14]

Core Insights - Caldera, a subsidiary of Dover, has launched GrandRIP, a new subscription raster image processor package aimed at small businesses in the large format visual communications, industrial printing, and packaging sectors [1][2]. Company Overview - Caldera is headquartered in Eckbolsheim, France, and is recognized as a leading developer of raster image processing software, color management, and workflow solutions for the graphics and textile markets [4]. - Dover is a diversified global manufacturer with annual revenue exceeding $7 billion, operating across five segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies [5]. Product Features - GrandRIP offers a simplified, cost-efficient approach to professional-level printing, making it accessible to a new group of customers [2]. - The package features a fast and intuitive user interface, streamlining essential prepress, color management, finishing, and automation processes, which enhances user benefits and return on investment [2][3]. - It is compatible with various print and cut peripherals, embedding Adobe PDF Print Engine technology and spot color libraries for accurate reproduction, along with automatic spot color detection tools [3].

Group 1 - Dover Corporation's President and CEO, Richard J. Tobin, will present at the 2025 Bank of America Securities Industrials, Transportation and Airlines Key Leaders Conference on May 13, 2025, at 8:45 am ET [1] - Dover Corporation is a diversified global manufacturer with annual revenue exceeding $7 billion, operating through five segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies [2] - The company employs approximately 24,000 people and is headquartered in Downers Grove, Illinois, trading on the New York Stock Exchange under the ticker "DOV" [2]

Company Overview - Dover Corporation has announced a definitive agreement to acquire SIKORA AG for €550 million in cash, with the transaction expected to close in Q2 2025, pending regulatory approvals [1] - SIKORA, founded in 1973 and headquartered in Bremen, Germany, specializes in precision measurement, inspection, and control solutions for various production processes, generating approximately €100 million in revenue in 2024 [2] Strategic Rationale - The acquisition of SIKORA is considered highly strategic for Dover's MAAG operating unit, enhancing exposure to attractive market adjacencies and providing cross-selling opportunities due to overlapping customer needs [3] - Dover's President and CEO emphasized that the acquisition aligns with the company's capital deployment strategy to add synergistic, growth-oriented businesses, highlighting SIKORA's strong value proposition and technological offerings [3] Market Context - Demand for SIKORA's products is increasing, driven by trends in electrification and growth in high-performance applications such as data centers, with the company achieving a double-digit organic growth rate over the last three years [2]

Core Insights - Dover Corporation reported first-quarter 2025 adjusted earnings per share (EPS) of $2.05, exceeding the Zacks Consensus Estimate of $1.99, and up from $1.72 in the same quarter last year [1][2] - Total revenues for the first quarter decreased by 0.9% year over year to $1.87 billion, missing the Zacks Consensus Estimate of $1.88 billion [2] - The company expects adjusted EPS for 2025 to be between $9.20 and $9.40, with anticipated revenue growth of 2-4% year over year [11] Financial Performance - The reported EPS was $1.73, down from $4.30 in the year-ago quarter [1] - Cost of sales fell by 5.6% year over year to $1.12 billion, while gross profit increased by 6.9% to $745.5 million, resulting in a gross margin of 40% compared to 37% in the prior year [2] - Selling, general and administrative expenses rose by 1.4% to $449 million, and adjusted EBITDA increased by 10% year over year to $448 million, with an adjusted EBITDA margin of 24% [3] Segment Performance - Engineered Products segment revenues fell by 23.5% year over year to $255 million, with adjusted EBITDA decreasing by 27.3% to $48.9 million [4] - Clean Energy & Fueling segment revenues increased to $491 million from $445 million, with adjusted EBITDA rising to $94 million from $77.6 million [5] - Imaging & Identification segment revenues grew by 1.2% to $280 million, with adjusted EBITDA improving by 10.9% to $82 million [6] - Pumps & Process Solutions segment revenues increased by 6% to $493.6 million, with adjusted EBITDA totaling $164 million, up from $131 million [7] - Climate & Sustainability Technologies segment revenues fell to $348 million from $364 million, with adjusted EBITDA slightly increasing to $59 million [8] Bookings and Cash Flow - Dover's bookings at the end of the first quarter were valued at $1.99 billion, down from $2 billion in the prior year [9] - The company reported free cash flow of $109 million, compared to $106 million in the year-ago quarter, and cash flow from operations was $157 million, up from $146 million [10] Stock Performance - Dover's shares have declined by 6.1% over the past year, while the industry has seen a decline of 9.9% [12]

April 24, 2025 – 8:30am CT Earnings Conference Call First Quarter 2025 Forward-Looking Statements and Non-GAAP Measures We want to remind everyone that our comments may contain forward-looking statements that are inherently subject to uncertainties and risks, including general economic conditions and conditions in the particular markets in which we operate, changes in customer demand and capital spending, competitive factors and pricing pressures, our ability to develop and launch new products in a cost-eff ...

Financial Data and Key Metrics Changes - Adjusted EPS increased by 19% year-over-year, driven by strong incremental margin conversion and a healthy mix from growth platforms [7] - Adjusted EBITDA margin rose by 240 basis points to 24%, marking a record for Q1, with four out of five segments showing over 100 basis points of margin expansion [8] - Free cash flow for the quarter was $109 million, representing 6% of revenue, a $3 million increase compared to the previous year [20] Business Line Data and Key Metrics Changes - Engineered Products segment experienced a decline due to lower volumes in vehicle services and program timing in aerospace and defense, now accounting for 15% of total portfolio, down from 25% [10][11] - Clean Energy and Fueling segment saw a 2% organic growth, driven by strong shipments in clean energy components and a recovery in below-ground retail fueling equipment [12] - Imaging and ID segment posted 4% organic growth, supported by strong wins in serialization software and broad-based growth in marking and coding [13] - Pumps and Process Solutions segment grew by 7% organically, with double-digit growth in single-use biopharma components and triple-digit growth in thermal connectors for data center cooling [14] Market Data and Key Metrics Changes - Organic bookings increased for the sixth consecutive quarter, with a book-to-bill ratio above one across all segments, indicating strong demand [8][22] - The company noted robust order activity in clean energy components and a positive outlook for the broader industrial gas complex [23] Company Strategy and Development Direction - The company is focused on portfolio construction, new product introductions, and cost productivity actions to enhance segment profitability and long-term revenue resilience [9] - Significant investments have been made in high-priority markets, which now account for 20% of the portfolio and are expected to drive double-digit growth [24] - The company is actively managing tariff exposure and implementing pricing strategies to mitigate impacts [26][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about Q2 based on strong backlog levels, despite trimming revenue and EPS guidance due to tariff uncertainties [27][28] - The company is prepared to navigate tariff challenges and believes its competitive positioning will allow for market share gains [30][31] Other Important Information - The company has a healthy balance sheet, allowing for opportunistic capital deployment despite macroeconomic uncertainties [31] - Management indicated that the first quarter is typically the lowest cash flow quarter of the year, with expectations for free cash flow guidance remaining on track at 14% to 16% of revenue [20][21] Q&A Session Summary Question: Can you elaborate on the tariff mitigation strategies? - Management indicated that pricing actions are being implemented to offset tariff impacts, with a focus on maintaining competitive positioning [36][37] Question: How do you see bookings growth sustainability? - Management expects bookings to remain above one for Q2, despite potential fluctuations due to macroeconomic sentiment [48] Question: What are the expectations for the Pumps and Process Solutions segment? - Management noted that while growth rates may not accelerate significantly, maintaining strong margins and growth is a priority [152] Question: How is the company managing inventory levels? - Management stated that inventory levels are higher than desired but are strategically positioned to meet anticipated demand [108] Question: What is the outlook for the clean energy segment? - Management expects clean energy to lead in margin accretion due to favorable market conditions and previous restructuring efforts [145]

Revenue Performance - Revenue for Q1 2025 was $1.9 billion, a decrease of $17.7 million or 0.9% compared to Q1 2024, driven by a 2.7% decline related to dispositions and a 1.1% unfavorable impact from foreign currency translation [103]. - Organic revenue growth of 0.5% in Q1 2025 was supported by the Pumps & Process Solutions, Imaging & Identification, and Clean Energy & Fueling segments, which grew by 6.5%, 3.9%, and 1.8% respectively [104]. - Bookings for Q1 2025 were $2.0 billion, a decrease of $16.3 million or 0.8% year-over-year, impacted by a 2.6% decline related to dispositions and a 1.1% unfavorable foreign currency translation [107]. - Overall bookings decreased by 19.8% year-over-year, with a disposition-related decline of 15.8% and an organic decline of 4.1% [132]. Profitability and Earnings - Gross profit for Q1 2025 increased by $48.3 million or 6.9%, with a gross profit margin of 40.0%, up 300 basis points from the prior year [115]. - Earnings from continuing operations decreased by 60.3% to $239.2 million, or $1.73 diluted earnings per share, compared to $602.1 million, or $4.30 diluted earnings per share in Q1 2024 [123]. - Total segment earnings for the first quarter of 2025 were $410.7 million, compared to $371.7 million in the prior year [155]. Segment Performance - The Engineered Products segment reported a revenue decline of 23.5% to $254.6 million, primarily due to a 15.4% decline related to dispositions [128]. - Engineered Products segment earnings decreased by $18.4 million, or 29.5%, with segment earnings margin decreasing to 17.3% from 18.8% compared to the prior year [131]. - Clean Energy & Fueling revenue increased by $46.1 million, or 10.4%, driven by acquisition-related growth of 9.4% and organic growth of 1.8% [135]. - Clean Energy & Fueling segment earnings increased by $16.0 million, or 22.9%, with segment earnings margin rising to 17.4% from 15.7% [137]. - Imaging & Identification revenue increased by $3.3 million, or 1.2%, driven by organic growth of 3.9% [141]. - Pumps & Process Solutions revenue increased by $27.8 million, or 6.0%, with organic growth of 6.5% [147]. - Climate & Sustainability Technologies revenue decreased by $16.4 million, or 4.5%, due to an organic revenue decline of 3.7% [153]. Expenses and Costs - Research and development costs for Q1 2025 were $37.5 million, representing 2.0% of revenue, compared to 1.9% in Q1 2024 [117]. - Selling, general and administrative expenses increased by $6.2 million or 1.4% in Q1 2025, with expenses as a percentage of revenue rising to 24.1% [116]. - Restructuring charges for the three months ended March 31, 2025, amounted to $8.3 million, primarily related to headcount reductions and exit costs [156]. - Purchase accounting expenses for the three months ended March 31, 2025, totaled $49.1 million, compared to $44.2 million in 2024 [162]. Cash Flow and Capital Management - Cash flow from operating activities for the three months ended March 31, 2025, was $157.5 million, an increase of $11.0 million compared to the same period in 2024 [165]. - Free cash flow for the three months ended March 31, 2025, was $109.3 million, representing 5.9% of revenue and 45.7% of earnings from continuing operations [173]. - Adjusted working capital increased by $93.4 million, or 5.7%, to $1.744 billion as of March 31, 2025, driven by increases in receivables and inventory [166]. - The company repurchased 200,000 shares for $40.7 million during the three months ended March 31, 2025 [172]. - Capital expenditures for 2025 are estimated to range from $170.0 million to $190.0 million [168]. Financial Position and Liquidity - Cash and cash equivalents totaled $1.8 billion as of March 31, 2025, with approximately $339.3 million held outside the United States [177]. - The interest coverage ratio was 49.4 to 1 as of March 31, 2025, indicating strong compliance with debt covenants [175]. - The net debt to net capitalization ratio increased to 14.1% as of March 31, 2025, compared to 13.5% at December 31, 2024 [178]. - Net debt rose by $83.0 million during the period, primarily due to foreign currency translation adjustments and a decrease in cash and cash equivalents [178]. - Stockholders' equity increased by $183.8 million, driven by current earnings of $230.8 million, partially offset by dividends paid [178]. - Operating cash flow and access to capital markets are expected to meet cash flow requirements, including acquisitions and capital expenditures [179]. - The company believes existing sources of liquidity are adequate to meet anticipated funding needs at current risk-based interest rates [179]. Market and Risk Management - The adoption of recent accounting standards is not expected to have a significant impact on revenue, earnings, or liquidity [181]. - The company emphasizes the importance of free cash flow as a measure of liquidity for funding acquisitions, paying dividends, and repurchasing stock [185]. - There has been no significant change in the company's exposure to market risk during the three months ended March 31, 2025 [187].