Dover beats quarterly profit estimates as pumps, fueling units strengthen

Reuters
01-30
Dover beats quarterly profit estimates as pumps, fueling units strengthen

Jan 30 (Reuters) - Diversified industrial manufacturer Dover DOV.N on Thursday beat fourth-quarter profit estimates, helped by the strong performance in its fueling solutions and pump system manufacturing segments.

Shares of the company, which makes consumable supplies, aftermarket parts, software and digital solutions for various industries, rose 2.5% before the bell.

Fourth-quarter sales rose 17.5% from a year ago at Dover's clean energy and fueling unit, which makes dispensing equipment, piping systems for liquefied gases and other related products.

The Grove, Illinois-based company's pumps and process unit, which makes engineered precision components for several industries including single-use pumps, flow meters and sensors, noted a 7.7% rise in quarterly sales.

"Order trends continued their positive trajectory in the quarter with book-to-bill above one, driven by robust bookings in our secular-growth-exposed markets in single-use biopharma components, thermal connectors, and CO2 systems," CEO Richard Tobin said.

The company has been involved in a bigger push to streamline its portfolio and focus on higher-margin operations.

Dover last year agreed to sell its environmental solutions unit, which builds machinery and other ancillary equipment for the waste-collection industry, to Terex Corp TEX.N in an all-cash deal valued at $2 billion.

The company's quarterly adjusted profit of $2.20 per share surpassed analysts' average estimate of $2.08, according to LSEG compiled data.

Total revenue for the quarter ended Dec. 31 rose 1% to $1.93 billion, compared with estimates of $1.95 billion.

Dover expects a revenue growth of 2% to 4% for full-year 2025.

The company projected annual adjusted profit of $9.30 to $9.50 per share, compared with estimates of $9.31 per share.

(Reporting by Nathan Gomes in Bengaluru; Editing by Shreya Biswas)

((Nathan.Gomes@thomsonreuters.com;))

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