Dover Corporation (NYSE:DOV) Q4 2023 Earnings Conference Call February 1, 2024 9:30 AM ET Company Participants Jack Dickens - Senior Director, Investor Relations. Richard Tobin - President and Chief Executive Officer Brad Cerepak - Senior Vice President and Chief Financial Officer Conference Call Participants Andrew Obin - Bank of America Andrew Kaplowitz - Citi Group Scott Davis - Melius Research Mike Halloran - Baird Steve Tusa - JPMorgan Joe Ritchie - Goldman Sachs Jeff Sprague – Vertical Research Julian ...

For the quarter ended December 2023, Dover Corporation (DOV) reported revenue of $2.11 billion, down 1.6% over the same period last year. EPS came in at $2.45, compared to $2.16 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.17 billion, representing a surprise of -3.09%. The company delivered an EPS surprise of +0.41%, with the consensus EPS estimate being $2.44.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

Dover Corporation (DOV) came out with quarterly earnings of $2.45 per share, beating the Zacks Consensus Estimate of $2.44 per share. This compares to earnings of $2.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.41%. A quarter ago, it was expected that this company would post earnings of $2.35 per share when it actually produced earnings of $2.35, delivering no surprise.Over the last four quarters, the company has surpa ...

DOWNERS GROVE, Ill., Jan. 31, 2024 /PRNewswire/ -- Dover (NYSE: DOV) announced today that it has completed the acquisition of Bulloch Technologies, Inc. ("Bulloch"), a provider of point-of-sale ("POS"), forecourt controller, and electronic payment server solutions to the convenience retail industry for CAD150 million, subject to customary adjustments and with additional contingent consideration tied to future growth of the business. Bulloch will become part of the Dover Fueling Solutions ("DFS") operating u ...

DOWNERS GROVE, Ill., Jan. 30, 2024 /PRNewswire/ -- Rotary®, part of Vehicle Service Group™ (VSG) and Dover (NYSE: DOV), today announced the launch of its new, patent-pending All-Vehicle (AV) lift arms. The arms are a breakthrough innovation designed to make it easier for automotive service professionals to correctly spot and lift nearly any vehicle make and model – including next generation electric vehicles (EVs) – using a single lift. As vehicle designs have continued to evolve in recent years, selecting ...

Dover Corporation (DOV) will release fourth-quarter 2023 results on Feb 1, before the opening bell.Q3 ResultsIn the last reported quarter, Dover’s earnings were in line with the Zacks Consensus Estimate, while sales missed the same. DOV reported a year-over-year improvement in its bottom line, whereas the top line remained flat year over year. The company has a trailing four-quarter negative surprise of 1.69%, on average.Q4 EstimatesThe Zacks Consensus Estimate for DOV’s fourth-quarter 2023 earnings per sha ...

DOWNERS GROVE, Ill., Jan. 24, 2024 /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 that it has launched a Marking Trigger Device that enhances the flexibility of its equipment for direct coding on a wide range of surfaces and sizes, including objects as large as aircraft wings. The Marking Trigger Device, which was invented by a Markem-Imaje product expert as part of an internal inno ...

Financial Data and Key Metrics Changes - Consolidated revenue decreased by 2% in the quarter, despite sequential growth in four out of five segments [119] - Adjusted EPS increased by 4% to $2.35 in the quarter, driven by positive price/cost dynamics and cost containment actions [92] - Free cash flow for the year-to-date reached $688 million, representing 11% of revenue, an increase of nearly $400 million year-over-year [9] Business Line Data and Key Metrics Changes - Engineered Products segment saw a 3% organic decline, with order rates up 12% driven by waste handling business [6] - Imaging & ID segment declined 4% organically, impacted by slowing demand in China [7] - Clean Energy & Fueling revenue was flat organically, with double-digit growth in LNG and hydrogen components [93] - Pumps & Process Solutions segment decreased by 7% organically, with a segment margin of 27% affected by lower biopharma revenue [121] Market Data and Key Metrics Changes - U.S. market revenue decreased by 7%, Europe down by 5%, and Asia down by 3%, with China specifically down 5% [95] - Bookings were down 4% organically year-over-year, resulting in a book-to-bill ratio of 0.93 [119] Company Strategy and Development Direction - The company is focusing on higher-growth and higher-return businesses through strategic acquisitions and divestitures, such as the acquisition of FW Murphy and the sale of De-Sta-Co [4] - The company aims to maintain and expand operating margins by prioritizing cash flow over volume and managing inventory levels [13][21] - The acquisition of FW Murphy is seen as a strategic move to enhance capabilities in the hydrogen market, aligning with energy transition investments [14][100] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for 2024, expecting growth in bookings driven by recovering end markets and a strong backlog [5] - The company acknowledged challenges in biopharma demand and the impact of high interest rates on project timelines [21][62] - Management emphasized the importance of inventory management in maintaining pricing dynamics and financial results moving into 2024 [91][170] Other Important Information - The company is experiencing a normalization of lead times and inventories, which is expected to improve demand across several end markets [117] - The company is committed to maintaining strong margins despite challenges in certain segments, particularly in biopharma and belowground fueling [90][110] Q&A Session Summary Question: What is the outlook for biopharma demand? - Management acknowledged that expectations for biopharma recovery were overly optimistic and that demand has been pushed to 2024 [21] Question: How is the company managing inventory levels? - Management stated that they are proactively reducing inventory levels to align with demand and avoid oversupply [39][142] Question: What is the company's strategy regarding pricing and margins? - Management indicated that they will not incentivize demand through pricing actions and will focus on maintaining margins [170] Question: How does the company view the market dynamics for heat exchangers? - Management noted a recent slowdown in demand for heat exchangers due to excess inventory in the supply chain but expects growth to resume [171] Question: What is the company's perspective on the macroeconomic environment? - Management expressed concerns about the impact of high interest rates on working capital and overall market conditions but remains optimistic about long-term growth prospects [186]

October 24, 2023 – 9:00am CT – Stoppages in auto curtailing demand on components in vehicle service and industrial automation, and chassis availability in waste handling – Elevated transaction and integration costs due to recent portfolio moves and ongoing pipeline activity Book-to-bill(2): 0.93, reflecting better lead times and strong shipments against longer-dated orders All-in ▪ Backlog(2): -16% Y-o-Y; +91% vs. 2019 ▪ Adjusted(1) Q3 Y-o-Y change: +2% (1) Non-GAAP measures (definitions and/or reconciliati ...

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, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT 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 or orga ...