DOWNERS GROVE, Ill., Feb. 12, 2025 /PRNewswire/ -- Dover Corporation (NYSE: DOV) announced that its President and Chief Executive Officer, Richard J. Tobin, will speak at the Barclays Industrial Select Conference in Miami Beach, Florida, on Thursday, February 20, 2025, at 8:05 am ET.A link to the live audio webcast of the presentation will be available on dovercorporation.com, and the replay will be archived on the website for 90 days.About Dover:Dover is a diversified global manufacturer and solutions prov ...

DOWNERS GROVE, Ill., Feb. 6, 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 the SmartLase® UV500, a new 5-watt UV laser printer that is well suited for high-density and delicate materials including hard plastics, recyclable films, metal, and glass. This new printer complements Markem-Imaje's CO2 and Fiber laser portfolio.The SmartLase UV500 is capable of rapid cod ...

Dover (DOV) Q4 2024 Earnings Call January 30, 2025 04:16 PM ET Company Participants Jack Dickens - Senior Director of Investor RelationsRichard Tobin - President, CEO & Chairman of the BoardBrad Cerepak - Senior VP & CFOSteve Tusa - Managing DirectorNigel Coe - Managing DirectorJoe Ritchie - Managing DirectorBrett Linzey - Executive DirectorMichael Halloran - Associate Director of ResearchJeffrey Sprague - Managing PartnerAndrew Obin - MD - Equity ResearchScott Davis - CEO & ChairmanDeane Dray - Managing Di ...

Core Viewpoint - Dover Corporation reported strong adjusted earnings per share (EPS) for Q4 2024, exceeding expectations, while total revenues showed slight growth but missed consensus estimates [1][2][11]. Financial Performance - Adjusted EPS from continuing operations for Q4 2024 was $2.20, beating the Zacks Consensus Estimate of $2.08, and slightly up from $2.18 in the same quarter last year [1][11]. - Reported EPS was $1.72, down 7% year over year [2]. - Total revenues for Q4 increased by 1.3% year over year to $1.93 billion, but fell short of the Zacks Consensus Estimate of $1.98 billion [2][11]. - Organic growth for the quarter was 0.3% [2]. Margins and Expenses - Cost of sales decreased by 0.1% year over year to $1.18 billion, while gross profit rose by 3.6% to $746 million, resulting in a gross margin of 38.7%, up from 37.8% a year ago [3]. - Selling, general and administrative expenses increased by 8.9% to $451 million [3]. - Adjusted EBITDA for Q4 was $466 million, a 4% increase year over year, with an adjusted EBITDA margin of 24.2% compared to 23.5% in the prior year [3]. Segment Performance - Engineered Products segment revenues fell by 12.2% year over year to $288 million, missing expectations [4]. - Clean Energy & Fueling segment revenues increased to $528 million from $449 million, exceeding estimates [5]. - Imaging & Identification segment revenues rose by 1.2% to $289 million, but missed projections [6]. - Pumps & Process Solutions segment revenues grew by 7.7% to $479 million, though it also missed estimates [7]. - Climate & Sustainability Technologies segment revenues decreased by 12.8% to $348 million, falling short of expectations [8]. Bookings and Cash Flow - Total bookings at the end of Q4 were $1.94 billion, up from $1.79 billion year over year, exceeding estimates [9]. - Free cash flow for Q4 was $385 million, down from $441 million in the prior year [10]. - Cash flow from operations was $439 million, compared to $499 million in the same quarter last year [10]. Annual Performance and Outlook - For 2024, adjusted EPS was reported at $8.29, up from $7.95 in the previous year, beating estimates [11]. - Total sales for 2024 rose by 1% year over year to $7.75 billion, but missed consensus estimates [11]. - The company expects adjusted EPS for 2025 to be between $9.30 and $9.50, with anticipated revenue growth of 2-4% [12]. Stock Performance - Dover's shares have increased by 33.2% over the past year, outperforming the industry growth of 17.2% [13].

January 30, 2025 – 8:00am CT Earnings Conference Call Fourth Quarter 2024 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- ...

Core Insights - Dover Corporation reported $1.93 billion in revenue for Q4 2024, an 8.4% year-over-year decline, with EPS of $2.20 compared to $2.45 a year ago, indicating a revenue surprise of -2.29% and an EPS surprise of +5.77% [1] Financial Performance - Revenue by segment: - Engineered Products: $288.22 million, -45.5% year-over-year, below the estimate of $295.32 million [4] - Clean Energy & Fueling: $528.03 million, +17.5% year-over-year, above the estimate of $505.86 million [4] - Climate & Sustainability Technologies: $347.52 million, -12.8% year-over-year, below the estimate of $400.55 million [4] - Pumps & Process Solutions: $479.14 million, +7.7% year-over-year, slightly below the estimate of $486.36 million [4] - Imaging & Identification: $288.80 million, +1.2% year-over-year, in line with the estimate of $288.93 million [4] - Adjusted EBITDA by segment: - Engineered Products: $64.86 million, above the estimate of $62.44 million [4] - Clean Energy & Fueling: $111.36 million, above the estimate of $108.21 million [4] - Climate & Sustainability Technologies: $52.57 million, below the estimate of $67.91 million [4] - Pumps & Process Solutions: $155 million, above the estimate of $152.30 million [4] - Imaging & Identification: $82.45 million, above the estimate of $76.90 million [4] Stock Performance - Dover's shares have returned +5.2% over the past month, outperforming the Zacks S&P 500 composite's +1.2% change, with a current Zacks Rank of 3 (Hold) indicating potential performance in line with the broader market [3]

Group 1: Earnings Performance - Dover Corporation reported quarterly earnings of $2.20 per share, exceeding the Zacks Consensus Estimate of $2.08 per share, but down from $2.45 per share a year ago, representing an earnings surprise of 5.77% [1] - Over the last four quarters, the company has surpassed consensus EPS estimates four times [2] - The company posted revenues of $1.93 billion for the quarter, missing the Zacks Consensus Estimate by 2.29%, and down from $2.11 billion year-over-year [2] Group 2: Stock Performance and Outlook - Dover shares have increased approximately 5.2% since the beginning of the year, outperforming the S&P 500's gain of 2.7% [3] - The current consensus EPS estimate for the upcoming quarter is $2.02 on revenues of $1.92 billion, and for the current fiscal year, it is $9.35 on revenues of $8.09 billion [7] - The estimate revisions trend for Dover is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Group 3: Industry Context - The Manufacturing - General Industrial industry, to which Dover belongs, is currently in the bottom 35% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor decisions [5]

Financial Performance - Dover reported Q4 2024 revenue of $1.9 billion, a 1% increase compared to Q4 2023[4] - GAAP earnings from continuing operations for Q4 2024 were $238 million, down 8%, with diluted EPS of $1.72, a decrease of 7%[4] - For the full year 2024, Dover generated revenue of $7.7 billion, also a 1% increase year-over-year[5] - Full year GAAP earnings from continuing operations rose to $1.4 billion, a 48% increase, with diluted EPS increasing by 50% to $10.09[5] - Adjusted diluted EPS for 2024 was $8.29, reflecting a 4% increase compared to 2023[5] - Net earnings from continuing operations for FY 2024 reached $1,399,968, compared to $943,864 in FY 2023, representing a 48.3% increase[20] - Net earnings for 2024 reached $2,697,126, a significant increase from $1,056,828 in 2023, representing a growth of approximately 154%[27] - Adjusted earnings from continuing operations for FY 2024 totaled $1,150,250, compared to $1,118,051 in FY 2023, reflecting a growth of about 3%[29] - Adjusted diluted earnings per share from continuing operations for FY 2024 were $10.09, an increase from $6.71 in FY 2023, representing a growth of approximately 50%[29] Revenue Growth - Dover anticipates full year revenue growth of 2% to 4% in 2025, with organic growth expected to be between 3% and 5%[11] - The Clean Energy & Fueling segment generated revenue of $528,032 in Q4 2024, a 17.5% increase from $449,423 in Q4 2023[23] - Organic revenue growth for the Engineered Products segment was 8.2% for Q4 2024, contributing to a total organic growth of 0.3% for the same quarter[34] - Organic bookings growth for Clean Energy & Fueling segment was 5.8% for FY 2024, with a notable 17.4% growth in Q4[39] Cash Flow and Liquidity - The company ended 2024 with a strong cash position, providing flexibility for future capital deployment[9] - Cash and cash equivalents increased significantly to $1,844,877 in December 2024 from $398,561 in December 2023, marking a growth of 362.5%[24] - Net cash provided by operating activities decreased to $1,087,833 in 2024 from $1,219,546 in 2023, a decline of about 11%[27] - Cash and cash equivalents at the end of 2024 were $1,844,877, up from $415,861 in 2023, indicating a substantial increase of approximately 343%[27] - The company reported a net debt to net capitalization ratio of 13.5% as of December 31, 2024, a significant decrease from 37.3% in the previous year[49] - Cash flow from operating activities as a percentage of revenue reached 22.7% in Q4 2024, up from 16.9% in Q4 2023, indicating improved operational efficiency[51] - Free cash flow as a percentage of revenue was 20.0% in Q4 2024, compared to 14.8% in Q4 2023, reflecting stronger cash generation capabilities[51] Acquisitions and Investments - The company completed six acquisitions over the last three years, enhancing its Clean Energy & Fueling segment[9] - The company completed the acquisition of eight businesses in FY 2024 for a total consideration of $674.0 million, aimed at expanding operations in various segments[42] - The sale of the Environmental Solutions Group business generated a total consideration of $2.0 billion, resulting in a pre-tax gain of $1.6 billion for the fourth quarter of 2024[43] Segment Performance - Segment earnings for Engineered Products in Q4 2024 were $59,989, up from $67,590 in Q4 2023, reflecting a decrease of 11.2%[23] - The total segment earnings for FY 2024 were $1,680,418, compared to $1,614,952 in FY 2023, marking an increase of 4.0%[33] - The Clean Energy & Fueling segment reported adjusted segment EBITDA of $391,969 for FY 2024, up from $358,721 in FY 2023, representing an increase of 9.2%[31] - The Imaging & Identification segment achieved an adjusted segment EBITDA margin of 27.8% for FY 2024, compared to 25.8% in FY 2023, indicating a year-over-year improvement of 2 percentage points[31] Tax and Expenses - The company reported a provision for income taxes of $357,048 for FY 2024, compared to $179,136 for FY 2023, indicating an increase of 99.5%[23] - The effective tax rate for FY 2024 was 20.3%, up from 16.0% in FY 2023, primarily due to gains on dispositions[47] - The company incurred $186,241 in purchase accounting expenses for FY 2024, up from $158,582 in FY 2023, an increase of about 17%[29] Shareholder Returns - Total dividends paid to stockholders in 2024 were $283,117, slightly down from $284,297 in 2023, a decrease of about 0.4%[27] - The company repurchased 2,869,282 shares for $500 million under the accelerated share repurchase program during FY 2024[48] Operational Efficiency - The total adjusted segment EBITDA margin for FY 2024 was 23.6%, up from 22.9% in FY 2023[31] - The company emphasized the importance of organic revenue growth, which excludes the impact of foreign currency exchange rates and acquisitions, for assessing performance trends[61] - Management highlighted the significance of free cash flow as a measure of liquidity, essential for funding acquisitions and paying dividends[60]

Core Viewpoint - Dover Corporation reported its financial results for Q4 and the full year 2024, showing stable revenue growth and significant increases in earnings from continuing operations compared to the previous year [1][4]. Financial Performance - For Q4 2024, Dover generated revenue of $1.93 billion, a 1% increase from Q4 2023, with GAAP earnings from continuing operations at $238 million, down 8% [3][4]. - The diluted EPS from continuing operations for Q4 2024 was $1.72, a decrease of 7% compared to the prior year [3][4]. - For the full year 2024, total revenue reached $7.75 billion, also a 1% increase year-over-year, while GAAP earnings from continuing operations surged by 48% to $1.4 billion [4][6]. - The diluted EPS for the full year 2024 was $10.09, reflecting a 50% increase from 2023 [4][6]. Adjusted Earnings - Adjusted earnings from continuing operations for Q4 2024 were $305 million, remaining flat compared to Q4 2023, while adjusted diluted EPS increased by 1% to $2.20 [3][4]. - For the full year 2024, adjusted earnings from continuing operations were $1.15 billion, a 3% increase, with adjusted diluted EPS rising by 4% to $8.29 [4][6]. Segment Performance - The Clean Energy & Fueling and Pumps & Process Solutions segments showed particularly strong performance, contributing to the overall revenue growth [6][8]. - Order trends remained positive, with a book-to-bill ratio above one, driven by robust bookings in high-growth markets [6][8]. Management Commentary - The CEO expressed optimism for 2025, citing solid underlying demand trends and expectations for continued margin improvement through cost containment and productivity initiatives [9][10]. - The company completed six acquisitions over the past three years, enhancing its capabilities in high-margin, high-growth areas [8][9]. Guidance for 2025 - Dover anticipates GAAP EPS from continuing operations in the range of $8.16 to $8.36 for 2025, with expected revenue growth of 2% to 4% [10].

Core Insights - CPC has launched the MicroCNX® Nano Series aseptic connectors aimed at simplifying closed sterile processing in cell and gene therapy (CGT) [1][2] - The new connectors allow for easier assembly of sterile flow paths, moving away from older techniques like tube welding, which can create holdup volume [2][3] - The MicroCNX Nano connectors can withstand freezing temperatures down to -190°C, supporting cell health during storage and transport [3] Company Overview - CPC (Colder Products Company) is a leader in single-use connection technology for biopharmaceuticals, cell therapy, and gene therapy [5] - The company offers a variety of connectors that enhance production yields, reduce time to market, and maintain media sterility [5] - CPC is part of Dover Corporation, which has an annual revenue exceeding $7 billion and operates across multiple segments [6]