Dover Corporation (NYSE:DOV) Q3 2024 Earnings Conference Call October 24, 2024 9:30 AM ET Company Participants Jack Dickens - Senior Director, IR Richard Tobin - President and CEO Brad Cerepak - SVP and CFO Conference Call Participants Jeff Sprague - Vertical Research Partners Julian Mitchell - Barclays Scott Davis - Melius Research Deane Dray - RBC Nigel Coe - Wolfe Research Joe O'Dea - Wells Fargo Steve Tusa - JPMorgan Joe Ritchie - Goldman Sachs Andy Kaplowitz - Citigroup Mike Halloran - Baird Operator G ...

Dover Corporation (DOV) has reported third-quarter 2024 adjusted earnings per share (EPS) from continuing operations of $2.27, beating the Zacks Consensus Estimate of $2.16. In the year-ago quarter, the company reported an adjusted EPS of $2.14 (excluding after-tax purchase accounting expenses and after-tax gain on disposition of a minority-owned equity method investment).On a reported basis, Dover has delivered an EPS (from continuing operations) of $2.26 in the quarter, up 21.5% year over year.Total reven ...

For the quarter ended September 2024, Dover Corporation (DOV) reported revenue of $1.98 billion, down 7.9% over the same period last year. EPS came in at $2.27, compared to $2.35 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2 billion, representing a surprise of -0.60%. The company delivered an EPS surprise of +5.09%, with the consensus EPS estimate being $2.16.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall St ...

October 24, 2024 – 8:30am CT Earnings Conference Call Third Quarter 2024 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 we serve, changes in customer demand and capital spending, competitive factors and pricing pressures, our ability to develop and launch new products in a cost-effective manner, our ability to identify, consummate and suc ...

Dover Corporation (DOV) came out with quarterly earnings of $2.27 per share, beating the Zacks Consensus Estimate of $2.16 per share. This compares to earnings of $2.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.09%. A quarter ago, it was expected that this company would post earnings of $2.21 per share when it actually produced earnings of $2.36, delivering a surprise of 6.79%.Over the last four quarters, the company h ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-4018 (Exact name of registrant as specified in its charter) Delaware 53-0257888 (State or other jurisdiction of incorporation ...

[Consolidated Financial Statements](index=1&type=section&id=Consolidated%20Financial%20Statements) This section provides an overview of the company's consolidated financial performance, focusing on earnings and key financial metrics [Consolidated Statements of Earnings](index=1&type=section&id=Consolidated%20Statements%20of%20Earnings) The company's consolidated statements of earnings show revenue and net income growth in Q2 and H1 2024, but a decline in gross and operating margins, with a significant gain from asset disposal in Q1 2024 boosting net income and EPS Consolidated Statements of Earnings Key Data (2024 Q2 YTD vs. 2023 Q2 YTD) | Metric (USD thousands) | 2024 Q2 YTD | 2023 Q2 YTD | Change (%) | | :--------------------- | :---------- | :---------- | :--------- | | **Revenue** | 3,832,501 | 3,821,236 | 0.3% | | **Gross Profit** | 1,449,710 | 1,409,260 | 2.9% | | **Operating Profit** | 577,674 | 577,875 | -0.0% | | **Net Income** | 914,043 | 470,813 | 94.1% | | **Diluted EPS** | 6.57 | 3.35 | 96.1% | - In the first quarter of 2024, the company recorded a significant gain of **$529,943 thousand** from asset disposal, leading to substantial growth in net income and earnings per share[1](index=1&type=chunk) Consolidated Statements of Earnings Key Data (FY 2023 vs. FY 2022 vs. FY 2021) | Metric (USD thousands) | FY 2023 | FY 2022 | FY 2021 | | :--------------------- | :---------- | :---------- | :---------- | | **Revenue** | 7,684,476 | 7,844,174 | 7,361,273 | | **Gross Profit** | 2,867,544 | 2,904,953 | 2,838,848 | | **Operating Profit** | 1,219,340 | 1,279,641 | 1,205,922 | | **Net Income** | 1,056,828 | 1,065,376 | 1,123,818 | | **Diluted EPS** | 7.52 | 7.42 | 7.74 | [Segment Performance](index=3&type=section&id=Segment%20Performance) This section analyzes the financial performance of the company's various business segments, including revenue, earnings, and profitability margins [Segment Revenue](index=3&type=section&id=Segment%20Revenue) In Q2 2024, Clean Energy & Fueling, Imaging & Identification, and Pumps & Process Solutions segments reported year-over-year revenue growth, with Pumps & Process Solutions achieving the highest revenue, while Engineered Products and Climate & Sustainability Technologies segments experienced declines Segment Revenue (2024 Q2 vs. 2023 Q2) | Segment (USD thousands) | 2024 Q2 | 2023 Q2 | Year-over-Year Change (%) | | :---------------------------------- | :---------- | :---------- | :------------------------ | | Engineered Products | 285,297 | 287,408 | -0.7% | | Clean Energy & Fueling | 463,014 | 441,166 | 4.9% | | Imaging & Identification | 287,593 | 271,932 | 5.8% | | Pumps & Process Solutions | 477,239 | 465,626 | 2.5% | | Climate & Sustainability Technologies | 436,706 | 449,001 | -2.7% | | **Total Consolidated Revenue** | **1,948,782** | **1,913,807** | **1.8%** | Segment Revenue (FY 2023 vs. FY 2022 vs. FY 2021) | Segment (USD thousands) | FY 2023 | FY 2022 | FY 2021 | | :---------------------------------- | :---------- | :---------- | :---------- | | Engineered Products | 1,250,925 | 1,379,512 | 1,234,695 | | Clean Energy & Fueling | 1,788,277 | 1,878,507 | 1,648,153 | | Imaging & Identification | 1,116,732 | 1,123,815 | 1,163,367 | | Pumps & Process Solutions | 1,755,691 | 1,728,235 | 1,708,634 | | Climate & Sustainability Technologies | 1,778,582 | 1,737,724 | 1,608,175 | | **Total Consolidated Revenue** | **7,684,476** | **7,844,174** | **7,361,273** | [Segment Earnings from Continuing Operations](index=3&type=section&id=Segment%20Earnings%20from%20Continuing%20Operations) In Q2 2024, all segments reported year-over-year growth in earnings from continuing operations, with Pumps & Process Solutions and Climate & Sustainability Technologies showing significant increases, and Pumps & Process Solutions consistently contributing the highest segment earnings Segment Earnings from Continuing Operations (2024 Q2 vs. 2023 Q2) | Segment (USD thousands) | 2024 Q2 | 2023 Q2 | Year-over-Year Change (%) | | :---------------------------------- | :---------- | :---------- | :------------------------ | | Engineered Products | 52,095 | 38,872 | 34.0% | | Clean Energy & Fueling | 87,536 | 83,616 | 4.7% | | Imaging & Identification | 75,786 | 61,336 | 23.6% | | Pumps & Process Solutions | 137,217 | 129,337 | 6.1% | | Climate & Sustainability Technologies | 79,127 | 76,074 | 4.0% | | **Total Segment Earnings** | **431,761** | **389,235** | **10.9%** | Segment Earnings from Continuing Operations (FY 2023 vs. FY 2022 vs. FY 2021) | Segment (USD thousands) | FY 2023 | FY 2022 | FY 2021 | | :---------------------------------- | :---------- | :---------- | :---------- | | Engineered Products | 224,051 | 240,496 | 196,512 | | Clean Energy & Fueling | 328,604 | 352,993 | 327,186 | | Imaging & Identification | 272,512 | 268,084 | 266,932 | | Pumps & Process Solutions | 484,405 | 533,018 | 575,593 | | Climate & Sustainability Technologies | 305,380 | 254,484 | 185,517 | | **Total Segment Earnings** | **1,614,952** | **1,649,075** | **1,551,740** | [Segment Earnings Margin](index=3&type=section&id=Segment%20Earnings%20Margin) In Q2 2024, all segments improved their earnings margins, with Pumps & Process Solutions leading at **28.8%**, followed closely by Imaging & Identification, and the total segment earnings margin increased from **20.3%** to **22.2%** Segment Earnings Margin (2024 Q2 vs. 2023 Q2) | Segment | 2024 Q2 | 2023 Q2 | Change (percentage points) | | :---------------------------------- | :------ | :------ | :----------------------- | | Engineered Products | 18.3 % | 13.5 % | 4.8 | | Clean Energy & Fueling | 18.9 % | 19.0 % | -0.1 | | Imaging & Identification | 26.4 % | 22.6 % | 3.8 | | Pumps & Process Solutions | 28.8 % | 27.8 % | 1.0 | | Climate & Sustainability Technologies | 18.1 % | 16.9 % | 1.2 | | **Total Segment Earnings Margin** | **22.2 %** | **20.3 %** | **1.9** | Segment Earnings Margin (FY 2023 vs. FY 2022 vs. FY 2021) | Segment | FY 2023 | FY 2022 | FY 2021 | | :---------------------------------- | :------ | :------ | :------ | | Engineered Products | 17.9 % | 17.4 % | 15.9 % | | Clean Energy & Fueling | 18.4 % | 18.8 % | 19.9 % | | Imaging & Identification | 24.4 % | 23.9 % | 22.9 % | | Pumps & Process Solutions | 27.6 % | 30.8 % | 33.7 % | | Climate & Sustainability Technologies | 17.2 % | 14.6 % | 11.5 % | | **Total Segment Earnings Margin** | **21.0 %** | **21.0 %** | **21.1 %** | [Non-GAAP Financial Measures & Reconciliations](index=5&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) This section presents non-GAAP financial metrics and their reconciliations to GAAP measures, offering additional insights into the company's operational performance and growth drivers [Adjusted Earnings and Adjusted EPS from Continuing Operations](index=5&type=section&id=Adjusted%20Earnings%20and%20Adjusted%20EPS%20from%20Continuing%20Operations) The company reported adjusted earnings and adjusted EPS from continuing operations, excluding non-recurring items like acquisition accounting expenses, restructuring costs, disposal costs, and gains/losses on disposals, to better reflect core operating performance, with both metrics showing significant growth in H1 2024 Adjusted Earnings from Continuing Operations (2024 Q2 YTD vs. 2023 Q2 YTD) | Metric (USD thousands) | 2024 Q2 YTD | 2023 Q2 YTD | Change (%) | | :-------------------------------------- | :---------- | :---------- | :--------- | | Earnings from Continuing Operations | 848,689 | 423,702 | 100.3% | | Adjusted Earnings from Continuing Operations | 531,634 | 510,679 | 4.1% | | Diluted EPS (Continuing Operations) | 6.10 | 3.02 | 102.0% | | Adjusted Diluted EPS (Continuing Operations) | 3.82 | 3.63 | 5.2% | - In the first half of 2024, adjusted earnings from continuing operations reached **$531,634 thousand**, and adjusted diluted EPS was **$3.82**, both exceeding the prior year period, indicating robust core business performance[8](index=8&type=chunk)[9](index=9&type=chunk) Adjusted Earnings from Continuing Operations (FY 2022 vs. FY 2021) | Metric (USD thousands) | FY 2022 | FY 2021 | | :-------------------------------------- | :---------- | :---------- | | Earnings from Continuing Operations | 989,912 | 1,065,320 | | Adjusted Earnings from Continuing Operations | 1,130,316 | 1,046,227 | | Diluted EPS (Continuing Operations) | 6.89 | 7.33 | | Adjusted Diluted EPS (Continuing Operations) | 7.87 | 7.20 | [Adjusted Segment EBITDA](index=7&type=section&id=Adjusted%20Segment%20EBITDA) In Q2 2024, all segments reported year-over-year growth in adjusted EBITDA and their respective margins, with Pumps & Process Solutions leading at an adjusted EBITDA margin of **31.4%**, and the total adjusted segment EBITDA margin increasing from **22.2%** to **24.0%** Adjusted Segment EBITDA and Margin (2024 Q2 vs. 2023 Q2) | Segment | 2024 Q2 EBITDA (USD thousands) | 2024 Q2 EBITDA Margin | 2023 Q2 EBITDA (USD thousands) | 2023 Q2 EBITDA Margin | | :---------------------------------- | :----------------------------- | :-------------------- | :----------------------------- | :-------------------- | | Engineered Products | 56,873 | 19.9 % | 44,650 | 15.5 % | | Clean Energy & Fueling | 95,163 | 20.6 % | 91,157 | 20.7 % | | Imaging & Identification | 79,057 | 27.5 % | 65,081 | 23.9 % | | Pumps & Process Solutions | 149,854 | 31.4 % | 140,946 | 30.3 % | | Climate & Sustainability Technologies | 86,347 | 19.8 % | 82,969 | 18.5 % | | **Total Adjusted Segment EBITDA** | **467,294** | **24.0 %** | **424,803** | **22.2 %** | Adjusted Segment EBITDA and Margin (FY 2022 vs. FY 2021) | Segment | FY 2022 EBITDA (USD thousands) | FY 2022 EBITDA Margin | FY 2021 EBITDA (USD thousands) | FY 2021 EBITDA Margin | | :---------------------------------- | :----------------------------- | :-------------------- | :----------------------------- | :-------------------- | | Engineered Products | 263,067 | 19.1 % | 219,224 | 17.8 % | | Clean Energy & Fueling | 381,808 | 20.3 % | 353,028 | 21.4 % | | Imaging & Identification | 282,269 | 25.1 % | 281,121 | 24.2 % | | Pumps & Process Solutions | 573,857 | 33.2 % | 614,865 | 36.0 % | | Climate & Sustainability Technologies | 280,688 | 16.2 % | 212,504 | 13.2 % | | **Total Adjusted Segment EBITDA** | **1,781,689** | **22.7 %** | **1,680,742** | **22.8 %** | [Reconciliation of Earnings from Continuing Operations to Adjusted Segment EBITDA](index=9&type=section&id=Reconciliation%20of%20Earnings%20from%20Continuing%20Operations%20to%20Adjusted%20Segment%20EBITDA) This section provides a detailed reconciliation from earnings from continuing operations to adjusted segment EBITDA, itemizing adjustments such as income taxes, interest income/expense, corporate expenses, gains/losses on disposals, restructuring costs, and acquisition accounting expenses, to clearly illustrate the non-GAAP metric calculation Reconciliation of Earnings from Continuing Operations to Adjusted Segment EBITDA (2024 Q2 YTD vs. 2023 Q2 YTD) | Item (USD thousands) | 2024 Q2 YTD | 2023 Q2 YTD | | :------------------------------------------ | :---------- | :---------- | | Earnings from Continuing Operations | 848,689 | 423,702 | | Add: Provision for Income Taxes | 218,347 | 101,384 | | Less: Interest Income | (8,837) | (4,744) | | Add: Interest Expense | 68,739 | 68,017 | | Add: Corporate Expenses/Other | 81,685 | 74,439 | | Less: Gain (Loss) on Disposals | (529,280) | — | | Add: Restructuring and Other Costs | 35,561 | 32,196 | | Add: Acquisition Accounting Expenses | 88,519 | 79,247 | | **Total Segment Earnings** | **803,423** | **774,241** | | Add: Other Depreciation and Amortization | 71,386 | 69,242 | | **Total Adjusted Segment EBITDA** | **874,809** | **843,483** | Reconciliation of Earnings from Continuing Operations to Adjusted Segment EBITDA (FY 2022 vs. FY 2021) | Item (USD thousands) | FY 2022 | FY 2021 | | :------------------------------------------ | :---------- | :---------- | | Earnings from Continuing Operations | 989,912 | 1,065,320 | | Add: Provision for Income Taxes | 200,291 | 259,902 | | Less: Interest Income | (4,429) | (4,439) | | Add: Interest Expense | 116,456 | 106,316 | | Add: Corporate Expenses/Other | 136,045 | 156,202 | | Add: Gain (Loss) on Disposals | 194 | (206,338) | | Add: Restructuring and Other Costs | 36,209 | 37,242 | | Add: Acquisition Accounting Expenses | 174,397 | 137,535 | | **Total Segment Earnings** | **1,649,075** | **1,551,740** | | Add: Other Depreciation and Amortization | 132,614 | 129,002 | | **Total Adjusted Segment EBITDA** | **1,781,689** | **1,680,742** | [Revenue Growth Factors](index=11&type=section&id=Revenue%20Growth%20Factors) In Q2 2024, total company revenue grew by **1.8%** year-over-year, driven by **3.0%** organic growth and **2.3%** from acquisitions, partially offset by negative impacts from disposals and currency translation, with strong organic growth in the United States and Other Americas, but challenges in Europe and Asia Revenue Growth Factors (2024 Q2 vs. 2023 Q2) | Growth Factor | 2024 Q2 | 2023 Q2 | | :------------------ | :------ | :------ | | Organic Growth | 3.0 % | (4.1)% | | Acquisitions | 2.3 % | 1.0 % | | Disposals | (2.8)% | — % | | Currency Translation | (0.7)% | (0.7)% | | **Total** | **1.8 %** | **(3.8)%** | Organic Revenue Growth by Region (2024 Q2 vs. 2023 Q2) | Region | 2024 Q2 | 2023 Q2 | | :------------ | :------ | :------ | | United States | 9.1 % | (11.5)% | | Other Americas | 18.2 % | 13.7 % | | Europe | (3.8)% | (0.9)% | | Asia | (8.6)% | 2.0 % | | Other | (28.0)% | 32.8 % | Revenue Growth Factors (FY 2022 vs. FY 2021) | Growth Factor | FY 2022 | FY 2021 | | :------------------ | :------ | :------ | | Organic Growth | 7.8 % | 16.5 % | | Acquisitions | 4.6 % | 1.3 % | | Disposals | (1.6)% | (0.2)% | | Currency Translation | (4.2)% | 2.1 % | | **Total** | **6.6 %** | **19.7 %** | [Performance Metrics](index=13&type=section&id=Performance%20Metrics) This section evaluates key operational performance indicators, including bookings, cash flow, and free cash flow, providing insights into the company's business momentum and liquidity [Bookings](index=13&type=section&id=Bookings) In Q2 2024, total company bookings increased by **10.2%** year-over-year to **$1,877,373 thousand**, with the Climate & Sustainability Technologies segment showing the strongest organic bookings growth at **31.6%** Total Consolidated Bookings (2024 Q2 vs. 2023 Q2) | Metric (USD thousands) | 2024 Q2 | 2023 Q2 | Year-over-Year Change (%) | | :------------------------- | :---------- | :---------- | :------------------------ | | **Total Consolidated Bookings** | **1,877,373** | **1,703,206** | **10.2%** | Segment Organic Bookings Growth (2024 Q2 vs. 2023 Q2) | Segment | 2024 Q2 | 2023 Q2 | | :---------------------------------- | :------ | :------ | | Engineered Products | 11.4 % | (9.2)% | | Clean Energy & Fueling | (1.6)% | (8.4)% | | Imaging & Identification | 11.1 % | (8.5)% | | Pumps & Process Solutions | 10.5 % | (19.4)% | | Climate & Sustainability Technologies | 31.6 % | (31.5)% | | **Total Organic Growth** | **11.5 %** | **(16.3)%** | Total Consolidated Bookings (FY 2022 vs. FY 2021) | Metric (USD thousands) | FY 2022 | FY 2021 | | :------------------------- | :---------- | :---------- | | **Total Consolidated Bookings** | **7,669,459** | **8,669,911** | | **Total Organic Growth** | **(10.3)%** | **31.1%** | [Cash Flow and Free Cash Flow](index=15&type=section&id=Cash%20Flow%20and%20Free%20Cash%20Flow) In the first half of 2024, net cash provided by operating activities was **$295,637 thousand**, and free cash flow was **$219,765 thousand**; despite a year-over-year decrease in operating cash flow, free cash flow as a percentage of revenue and adjusted earnings from continuing operations remained healthy Quarterly Cash Flow (2024 Q2 YTD vs. 2023 Q2 YTD vs. FY 2022) | Metric (USD thousands) | 2024 Q2 YTD | 2023 Q2 YTD | FY 2022 | | :-------------------------------------- | :---------- | :---------- | :---------- | | Net Cash Provided by Operating Activities | 295,637 | 389,187 | 746,754 | | Net Cash Used in Investing Activities | 465,631 | (82,543) | (520,844) | | Net Cash Used in Financing Activities | (911,439) | (444,489) | (260,265) | Free Cash Flow and Ratios (2024 Q2 YTD vs. 2023 Q2 YTD vs. FY 2022) | Metric | 2024 Q2 YTD | 2023 Q2 YTD | FY 2022 | | :------------------------------------------ | :---------- | :---------- | :------ | | Free Cash Flow (USD thousands) | 219,765 | 304,233 | 535,672 | | Net Cash Provided by Operating Activities as a % of Revenue | 7.7 % | 10.2 % | 9.5 % | | Free Cash Flow as a % of Revenue | 5.7 % | 8.0 % | 6.8 % | | Free Cash Flow as a % of Adjusted Earnings from Continuing Operations | 41.3 % | 59.6 % | 47.4 % | - In Q2 and the first half of 2024, the company paid **$56 million** in income taxes related to the De-Sta-Co disposal, with remaining taxes to be paid quarterly throughout 2024[33](index=33&type=chunk) [Non-GAAP and Performance Measures Definitions](index=16&type=section&id=Non-GAAP%20and%20Performance%20Measures%20Definitions) This section provides clear definitions for the company's non-GAAP financial metrics and key performance indicators, explaining their calculation and relevance [Non-GAAP Measures Definitions](index=16&type=section&id=Non-GAAP%20Measures%20Definitions) This section defines the company's non-GAAP financial measures, including adjusted earnings from continuing operations, adjusted diluted EPS from continuing operations, total segment earnings, total segment earnings margin, adjusted segment EBITDA, adjusted segment EBITDA margin, free cash flow, and their respective ratios, along with their purpose and calculation methodologies - Adjusted earnings from continuing operations exclude the impact of acquisition accounting expenses, restructuring and other costs/benefits, tax relief and employment acts, disposal costs, and gains/losses on disposals[37](index=37&type=chunk) - Adjusted segment EBITDA is defined as segment earnings plus other depreciation and amortization expenses, excluding amounts related to acquisition accounting expenses and restructuring and other costs/benefits[39](index=39&type=chunk) - Free cash flow represents net cash provided by operating activities less capital expenditures, serving as a key indicator of the company's liquidity[40](index=40&type=chunk) [Performance Measures Definitions](index=17&type=section&id=Performance%20Measures%20Definitions) This section defines the company's performance measures, including bookings and organic bookings, clarifying their importance in monitoring business performance and evaluating segment results - Bookings represent the total orders received from customers during the current reporting period, excluding cancellations related to prior period orders[42](index=42&type=chunk) - Organic bookings refer to bookings excluding the impact of foreign currency exchange rates, acquisitions, and disposals[42](index=42&type=chunk)

Core Insights - Dover Corporation reported a revenue of $1.98 billion for Q3 2024, reflecting a 1% increase compared to Q3 2023, with GAAP earnings from continuing operations rising by 19% to $313 million [1][2][6] - The company achieved a GAAP diluted EPS from continuing operations of $2.26, up 22% year-over-year, while adjusted diluted EPS increased by 6% to $2.27 [1][2][6] - For the nine months ended September 30, 2024, revenue reached $5.8 billion, also a 1% increase, with GAAP earnings from continuing operations soaring by 69% to $1.2 billion [1][2][6] Financial Performance - Q3 2024 revenue: $1,983.5 million vs. Q3 2023: $1,958.4 million [6] - Nine months 2024 revenue: $5,816.0 million vs. Nine months 2023: $5,779.7 million [6] - Q3 2024 GAAP earnings from continuing operations: $312.9 million vs. Q3 2023: $262.0 million [6] - Nine months 2024 GAAP earnings from continuing operations: $1,161.6 million vs. Nine months 2023: $685.7 million [6] - Q3 2024 diluted EPS from continuing operations: $2.26 vs. Q3 2023: $1.86 [6] - Nine months 2024 diluted EPS from continuing operations: $8.37 vs. Nine months 2023: $4.88 [6] Management Commentary - The CEO highlighted strong production performance and positive margin mix from growth platforms in clean energy, biopharma components, and CO2 refrigeration systems [2] - The company experienced broad-based top-line performance, offsetting challenges in polymer processing and beverage can-making [2] - Dover's strategic portfolio evolution is supported by a strong balance sheet, with a recent divestiture of the Environmental Solutions Group business [2] Guidance - For full year 2024, Dover expects GAAP EPS from continuing operations in the range of $10.11 to $10.21, with adjusted EPS between $8.08 and $8.18, based on revenue growth of 1% to 3% [3] Company Overview - 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 [5]

DOWNERS GROVE, Ill., Oct. 23, 2024 /PRNewswire/ -- Dover Fueling Solutions ("DFS"), a part of Dover (NYSE: DOV) and a leading global provider of advanced customer-focused technologies, services and solutions in the fuel and convenience retail industries, today announced the launch of the Wayne PWR™ DC fast charger (Wayne PWR). This new electric vehicle charger (EVC) addresses critical market gaps in reliability and durability while offering an unmatched customer experience.Designed and manufactured in Austi ...

Core Insights - Rotary has launched four new products to enhance service efficiency and productivity in automotive shops, coinciding with its 100th anniversary and the introduction of the new "Rotary Solutions" brand [1][4]. Product Innovations - The new products include: - **Rotary® R1250 Automatic Leverless Pro Tire Changer**: Features dual bead rollers and laser-guided positioning for efficient tire changes [3]. - **Rotary® ARO16 Four-Post Lift**: A 16,000 lb capacity lift designed for alignment [3]. - **Rotary® SLW210-AV WIDE SMARTLIFT® Inground Lift**: An inground lift with a 10,000 lb capacity, suitable for servicing various vehicle types including EVs [3]. - **Chief® Phoenix Pulling Rack with Rolling Jacks**: A frame rack with 10 tons of pulling power, designed for a range of vehicle sizes [3]. Brand Development - The new "Rotary Solutions" brand aims to provide a comprehensive solution for premium shop equipment and training, consolidating several well-known names in vehicle repair and diagnostics [4]. Company Background - Rotary, established in 1925, is recognized as a leader in vehicle service and repair productivity, with a global presence and a commitment to safety and efficiency in automotive service [5]. - The company is part of Vehicle Service Group, which operates under Dover Corporation, a diversified manufacturer with over $8 billion in annual revenue [6][7].