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Dover

Dover (DOV) Q2 2026 Earnings

Reported Jul 23, 2026 at 7:00 AM ET · SEC Source

Q2 26 EPS

$2.74

BEAT +0.78%

Est. $2.72

Q2 26 Revenue

$2.19B

MISS 0.66%

Est. $2.20B

vs S&P Since Q2 26

-6.6%

TRAILING MARKET

DOV -1.8% vs S&P +4.8%

Market Reaction

Did DOV Beat Earnings? Q2 2026 Results

Dover Corporation delivered a mixed but broadly encouraging second quarter, posting adjusted diluted EPS of $2.74 against a consensus estimate of $2.72, a 0.78% beat that extends the diversified industrial manufacturer's streak to five consecutive qu… Read more Dover Corporation delivered a mixed but broadly encouraging second quarter, posting adjusted diluted EPS of $2.74 against a consensus estimate of $2.72, a 0.78% beat that extends the diversified industrial manufacturer's streak to five consecutive quarters of topping analyst EPS expectations. Revenue of $2.19 billion grew 6.8% year-over-year but came in fractionally below the $2.20 billion consensus, a slim 0.66% miss that did little to dim an otherwise solid report. The headline story was breadth, with all five operating segments delivering positive organic growth and total bookings climbing to $2.33 billion from $2.01 billion a year ago, a double-digit surge that CEO Richard Tobin described as extending a multi-quarter streak of exceptional order momentum. Segment earnings margin expanded to 24.0% from 23.2%, underpinning the narrative of steady operational improvement that has kept Dover's stock trading near recent highs. With full-year adjusted EPS guidance raised to $10.55 to $10.75 on revenue growth of 6% to 8%, management signaled confidence that the strong order book and an improving acquisition pipeline will carry momentum into the second half.

Key Takeaways

  • • Secular-growth-exposed markets now account for approximately 25% of total portfolio
  • • All five segments delivered positive organic growth
  • • Operational execution on incremental volumes more than offset input cost inflation
  • • Bookings outpaced shipments and grew double digits, extending a multi-quarter streak
  • • Strong U.S. organic growth of 7.9% and Asia organic growth of 8.5%

DOV Forward Guidance & Outlook

Dover raised its full-year 2026 guidance, now expecting GAAP EPS of $8.94 to $9.14 and adjusted EPS of $10.55 to $10.75, based on full-year revenue growth of 6% to 8% (organic growth of 4% to 6%). Management cited the strength and breadth of the order book, the flexibility of the business model, and the optionality of the balance sheet as key drivers of confidence. Industrial M&A markets have improved, and the acquisition pipeline has a number of interesting opportunities in attractive end markets.

24/7 Wall St

DOV YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

DOV Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“Dover delivered another strong quarter of double-digit earnings per share growth. Top-line performance was led by our secular-growth-exposed markets — which now account for approximately 25% of the total portfolio — and was complemented by broad-based, constructive trading conditions across the portfolio. Notably, all five segments delivered positive organic growth in the quarter, underscoring the breadth and durability of demand. Margin performance was solid, as continued operational execution on incremental volumes more than offset input cost inflation.”

— Richard J. Tobin, Q2 2026 Earnings Press Release

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