Dover Corporation (DOV) shares are soaring 5.10% in Thursday's pre-market trading session following the company's strong third-quarter earnings report and raised full-year guidance. The industrial equipment maker has demonstrated resilience in the face of economic uncertainties, particularly benefiting from the growing demand for artificial intelligence infrastructure.
For the third quarter, Dover reported adjusted earnings of $2.62 per share, surpassing analysts' expectations of $2.51 and marking a 15% increase from the previous year. While revenue rose 4.8% to $2.08 billion, it fell slightly short of the $2.11 billion estimate. The company's performance was notably strong in its Pumps & Process Solutions unit, which provides thermal connectors for data center liquid cooling systems, with profits rising to $168.6 million from $138.3 million a year earlier.
In light of these positive results, Dover has raised its full-year 2025 adjusted earnings forecast to a range of $9.50 to $9.60 per share, up from the previous guidance of $9.35 to $9.55. The company maintains its outlook for full-year revenue growth of 4% to 6%. Dover's CEO, Richard Tobin, expressed satisfaction with the quarter's results, noting continued positive momentum in order trends, which provides good visibility for the fourth quarter and into next year. The raised outlook and strong performance in AI-related segments have clearly resonated with investors, driving the stock's significant pre-market surge.