Companies /Industrials

Dover Corp

NYSE: DOV Specialty Industrial Machinery
$198.68
▼ $3.14 (−1.56%) today
Markets closed · 7:41pm ET

Q2 2025 Earnings

Reported Jul 24, 2025, 6:35am ET · SEC source
$2.44
Beat +2.07%
EPS · est. $2.39
$2.0B
Beat +0.46%
Revenue · est. $2.0B
−4.6%
Trailing market
DOV vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0Jul 24Jul 25report 6:35am ETearnings+0.4%−5.9%
−6%−3%0Jul 24Jul 25earnings+0.4%−5.9%
DOV −5.9%S&P 500 +0.4%
−6%−3%0Jul 24Jul 25report 6:35am ETearnings+0.3%−5.9%
−6%−3%0Jul 24Jul 25earnings+0.3%−5.9%
DOV −5.9%NASDAQ +0.3%
−9%−6%−3%0Jul 23Jul 31report 6:35am ETearnings−0.4%−7.6%
−9%−6%−3%0Jul 23Jul 31earnings−0.4%−7.6%
DOV −7.6%S&P 500 −0.4%
−9%−6%−3%0Jul 23Jul 31report 6:35am ETearnings−0.2%−7.6%
−9%−6%−3%0Jul 23Jul 31earnings−0.2%−7.6%
DOV −7.6%NASDAQ −0.2%
−2.24%
Day of report
−0.07%
Next session
−2.94%
One week
−3.28%
30 days

S&P 500 over the same 30 days: +1.27%.

Did DOV Beat Earnings? Q2 2025 Results

Dover Corporation posted a stronger-than-expected second quarter of 2025, with adjusted diluted EPS of $2.44 clearing the $2.39 consensus estimate by 2.07% and revenue of $2.05 billion edging past forecasts by 0.46% on 5.2% year-over-year growth. The standout driver behind the quarter was a record consolidated segment margin of 23.2%, the product of prior portfolio reshaping, favorable mix from growth platforms including biopharma and data center products, and disciplined cost containment. Clean Energy & Fueling led segment performance with 8.0% organic growth, while Pumps & Process Solutions added 3.9%, partially offsetting softness in Engineered Products and Climate & Sustainability Technologies, which fell 5.1% and 5.6% organically, respectively. Total bookings of $2.01 billion exceeded revenue and rose 7% over the prior-year period, with management noting that a majority of third-quarter revenue is already in backlog. Encouraged by the first-half momentum, Dover raised its full-year 2025 adjusted EPS guidance to $9.35 to $9.55, up from $9.20 to $9.40, with full-year revenue growth projected at 4% to 6%.

Key Takeaways
  • Broad-based shipment growth in short cycle components
  • Continued strength in secular-growth-exposed end markets
  • Record consolidated segment margin of 23.2% driven by portfolio actions, positive mix, cost containment and productivity
  • Clean Energy & Fueling organic growth of 8.0%
  • Pumps & Process Solutions organic growth of 3.9%
  • Acquisitions contributed 3.0% to revenue growth
  • Favorable currency translation of 1.3%

“Dover's second quarter results were solid, driven by excellent production performance and execution in the face of a highly dynamic global trading environment.”

Dover CEO, on the earnings call

Forward Guidance & Outlook

Dover raised its full-year 2025 adjusted EPS guidance to $9.35–$9.55, up from the prior range of $9.20–$9.40, reflecting strong first-half performance. GAAP EPS from continuing operations is expected in the range of $8.00–$8.20. Full-year revenue growth is projected at 4% to 6%. Management is constructive on the second half, citing healthy underlying end-market demand supported by sustained order rates, with a majority of Q3 revenue already in backlog despite macroeconomic uncertainty.

DOV YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$600.0M$1.2B$1.8B$1.9B$2.0BRevenue$752.5M$818.3MGross Profit$323.5M$354.6MOperating Income$281.8M$280.1MNet Income
$0$600.0M$1.2B$1.8BRevenueGross ProfitOperating IncomeNet Income

DOV Revenue by Segment

Clean Energy & Fueling$546.1M+8.0%
Pumps & Process Solutions$520.6M+3.9%
Climate & Sustainability Technologies$416.2M−5.6%
Imaging & Identification$292.0M+0.0%
Engineered Products$275.9M−5.1%

Figures from SEC filings and company reports. Not investment advice.