Dover Surpasses Q2 Earnings & Revenue Estimates, Raises '25 View

Core Insights - Dover Corporation reported second-quarter 2025 adjusted earnings per share (EPS) of $2.44, exceeding the Zacks Consensus Estimate of $2.39 and up from $2.10 in the same quarter last year [1][10] - Total revenues for the second quarter increased by 5.2% year over year to $2.05 billion, surpassing the Zacks Consensus Estimate of $2.04 billion [2][10] - The company raised its 2025 EPS guidance to a range of $9.35-$9.55, anticipating year-over-year revenue growth of 4-6% [12] Financial Performance - The cost of sales rose by 2.9% year over year to $1.23 billion, while gross profit increased by 8.7% to $818 million, resulting in a gross margin of 39.9%, up from 38.6% in the prior year [3] - Selling, general and administrative expenses increased by 8.1% to $463 million, and adjusted EBITDA grew by 10% year over year to $514 million, with an adjusted EBITDA margin of 25.1% [3] - Free cash inflow was $151 million, down from $220 million in the previous year, while cash flow from operations was $212 million compared to $149 million last year [11] Segment Performance - Engineered Products segment revenues fell by 3.3% year over year to $276 million, but adjusted EBITDA grew by 3.2% to $58.6 million [4] - Clean Energy & Fueling segment revenues increased to $546 million from $463 million, with adjusted EBITDA rising to $117 million from $95 million [5] - Imaging & Identification segment revenues inched up by 1.6% to $292 million, while adjusted EBITDA was $81 million, up from $79 million [6] - Pumps & Process Solutions segment revenues increased by 9.1% to $520 million, with adjusted EBITDA totaling $173 million [7] - Climate & Sustainability Technologies segment revenues decreased to $416 million from $437 million, with adjusted EBITDA at $84.98 million compared to $86 million last year [8] Bookings and Market Performance - Dover's bookings at the end of the second quarter were valued at $2.01 billion, up from $1.88 billion in the prior year, exceeding the estimate of $1.99 billion [9][10] - The company's shares have gained 3.6% over the past year, compared to the industry's growth of 9% [13]