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Dover Reports First Quarter 2025 Results
DOVDover(DOV) Prnewswire·2025-04-24 10:30

Core Insights - Dover Corporation reported a revenue of 1.9billionforQ12025,adecreaseof11.9 billion for Q1 2025, a decrease of 1% compared to Q1 2024, with an organic revenue growth of 1% [4][30] - GAAP earnings from continuing operations fell by 60% to 239 million, and diluted EPS from continuing operations also decreased by 60% to 1.73,primarilyduetoasignificantgainfromthedispositionofDeStaCointhepreviousyear[4][9]Onanadjustedbasis,earningsfromcontinuingoperationsincreasedby181.73, primarily due to a significant gain from the disposition of De-Sta-Co in the previous year [4][9] - On an adjusted basis, earnings from continuing operations increased by 18% to 283 million, with adjusted diluted EPS rising by 19% to 2.05[4][19]FinancialPerformanceRevenuebreakdownforQ12025showedadeclineinEngineeredProductsby23.52.05 [4][19] Financial Performance - Revenue breakdown for Q1 2025 showed a decline in Engineered Products by 23.5% and Climate & Sustainability Technologies by 4.5%, while Clean Energy & Fueling and Pumps & Process Solutions experienced growth of 10.4% and 6.0% respectively [16][30] - The total segment earnings margin improved to 22.0% in Q1 2025 from 19.7% in Q1 2024, indicating better profitability across segments [16][34] - The company expects GAAP EPS from continuing operations for the full year 2025 to be in the range of 8.04 to 8.24,withadjustedEPSprojectedbetween8.24, with adjusted EPS projected between 9.20 and $9.40 [9][32] Management Commentary - The CEO highlighted encouraging results with favorable book-to-bill ratios across all segments and noted strong demand in biopharma components, thermal connectors, and CO2 systems [6][7] - The company is well-positioned in a dynamic global trading environment, leveraging agile business models and manageable supply chains [8][9] - Dover's strategy includes a focus on preserving profitability and responding flexibly to macroeconomic changes, as demonstrated during the pandemic [9][10] Guidance and Outlook - For Q1 2025, Dover reported a backlog that supports a majority of its second-quarter revenue, indicating strong future performance [7][9] - The company anticipates full-year revenue growth of 2% to 4%, both on an all-in and organic basis [9][32] - The adjusted earnings guidance reflects confidence in operational execution and capital deployment strategies [9][32]