Dover Corp
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −1.98%.
Did DOV Beat Earnings? Q4 2025 Results
Dover Corporation closed out fiscal 2025 on a high note, posting Q4 adjusted diluted EPS of $2.51 against a consensus estimate of $2.49, a beat of 0.80%, while revenue of $2.10 billion edged past the $2.08 billion estimate by 0.68% and climbed 8.8% year over year. The quarter represented the strongest organic growth rate of the full year at 5%, with broad-based momentum across all five operating segments driving the outperformance. The standout contributor was Pumps & Process Solutions, which delivered 10.7% organic growth and a 32.0% adjusted EBITDA margin, underscoring the earnings power of Dover's higher-margin industrial franchises. Full-year bookings of $8.14 billion, up from $7.68 billion in 2024, gave management confidence to issue constructive 2026 guidance calling for revenue growth of 5% to 7% and adjusted EPS of $10.45 to $10.65, with restructuring benefits from 2025 cost actions expected to support further margin conversion into the new year. Dover is scheduled to present at the Barclays Industrial Select Conference in February, offering investors a near-term opportunity to hear directly from leadership on execution priorities.
- Broad-based top line strength with organic growth reaching highest level of the year at 5%
- Robust trends in secular-growth-exposed markets
- Improving conditions in retail fueling and refrigerated door cases and services
- Volume leverage and ongoing productivity initiatives drove margin improvement
- Significant restructuring benefit carrying into 2026 from previously announced programs
- Sustained strong bookings rates supporting underlying momentum
- Q4 consolidated bookings of $2.14 billion, up from $1.94 billion in Q4 2024
- Pumps & Process Solutions led with 10.7% organic growth in Q4
- Climate & Sustainability Technologies achieved 9.4% organic growth in Q4
“Our fourth quarter results reflect broad-based top line strength across the portfolio, with organic growth reaching its highest level of the year. Revenue performance was driven by robust trends in our secular-growth-exposed markets as well as improving conditions in retail fueling and refrigerated door cases and services. Our sustained strong bookings rates continue to support underlying momentum across the portfolio, providing confidence in the durability of demand as we enter the new year.”
Dover CEO, on the earnings call
Forward Guidance & Outlook
For full year 2026, Dover expects GAAP EPS of $8.95 to $9.15 and adjusted EPS of $10.45 to $10.65, based on full year revenue growth of 5% to 7% (organic growth of 3% to 5%). Management described a constructive outlook with solid and broad-based demand trends supported by the order book, with no individual end market presenting a material headwind. Significant restructuring benefits from previously announced productivity and fixed cost optimization projects are expected to carry into 2026 and support attractive margin conversion. The company noted balance sheet optionality to dynamically respond to market conditions and play offense on capital deployment.
DOV YoY Financials
DOV Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.