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Dover Earnings Surpass Estimates in Q1, Revenues Decrease 1% Y/Y
DOVDover(DOV) ZACKS·2025-04-24 16:25

Core Insights - Dover Corporation reported first-quarter 2025 adjusted earnings per share (EPS) of 2.05,exceedingtheZacksConsensusEstimateof2.05, exceeding the Zacks Consensus Estimate of 1.99, and up from 1.72inthesamequarterlastyear[1][2]−Totalrevenuesforthefirstquarterdecreasedby0.91.72 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 1.88billion[2]−ThecompanyexpectsadjustedEPSfor2025tobebetween1.88 billion [2] - The company expects adjusted EPS for 2025 to be between 9.20 and 9.40,withanticipatedrevenuegrowthof2−49.40, with anticipated revenue growth of 2-4% year over year [11] Financial Performance - The reported EPS was 1.73, down from 4.30intheyear−agoquarter[1]−Costofsalesfellby5.64.30 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 745.5million,resultinginagrossmarginof40745.5 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 448million,withanadjustedEBITDAmarginof24448 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 445million,withadjustedEBITDArisingto445 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 164million,upfrom164 million, up from 131 million [7] - Climate & Sustainability Technologies segment revenues fell to 348millionfrom348 million from 364 million, with adjusted EBITDA slightly increasing to 59million[8]BookingsandCashFlow−Dover′sbookingsattheendofthefirstquarterwerevaluedat59 million [8] Bookings and Cash Flow - Dover's bookings at the end of the first quarter were valued at 1.99 billion, down from 2billionintheprioryear[9]−Thecompanyreportedfreecashflowof2 billion in the prior year [9] - The company reported free cash flow of 109 million, compared to 106millionintheyear−agoquarter,andcashflowfromoperationswas106 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]