Dover Reports Third Quarter 2025 Results

Core Insights - Dover Corporation reported a 5% increase in revenue for Q3 2025, reaching $2.1 billion, with a 3% decrease in GAAP earnings from continuing operations to $303 million [2][3][4] - The company adjusted its full-year EPS guidance upward to a range of $9.50 to $9.60, reflecting healthy underlying demand despite macroeconomic uncertainties [9] Financial Performance - Q3 2025 Results: - Revenue: $2,078 million, up 5% from $1,984 million in Q3 2024 - GAAP Earnings from Continuing Operations: $303 million, down 3% from $313 million - Adjusted Earnings from Continuing Operations: $361 million, up 15% from $314 million - Diluted EPS from Continuing Operations: $2.20, down 3% from $2.26; Adjusted Diluted EPS: $2.62, up 15% from $2.27 [2][3][4] - Year-to-Date Results: - Revenue: $5,993 million, up 3% from $5,816 million - GAAP Earnings from Continuing Operations: $823 million, down 29% from $1,162 million - Adjusted Earnings from Continuing Operations: $981 million, up 16% from $846 million - Diluted EPS from Continuing Operations: $5.96, down 29% from $8.37; Adjusted Diluted EPS: $7.10, up 17% from $6.09 [4][6] Management Commentary - The CEO highlighted broad-based shipment growth in short cycle components and strong performance in secular-growth end markets, which offset challenges in certain capital goods markets [6][7] - Positive order trends were noted, providing visibility for Q4 and into the next year, with record consolidated segment margins achieved [7][8] Strategic Initiatives - The company is focusing on capital deployment to drive double-digit earnings growth, with increased investments in high-ROI capital projects and operational efficiencies [8] - Dover announced the transition of its Anthony® glass door manufacturing operations to optimize costs and improve efficiency [8] Outlook - The company maintains a constructive outlook for the remainder of 2025, supported by healthy underlying demand and sustained order growth [9] - Full-year 2025 guidance includes GAAP EPS from continuing operations expected in the range of $8.06 to $8.16, with revenue growth projected at 4% to 6% [9]