Dover Corporation DOV has reported first-quarter 2025 adjusted earnings per share (EPS) from continuing operations of $2.05, beating the Zacks Consensus Estimate of $1.99. In the year-ago quarter, the company reported an adjusted EPS of $1.72 (excluding after-tax purchase accounting expenses and after-tax gain on disposition of a minority-owned equity method investment).

On a reported basis, Dover has delivered an EPS of $1.73 in the quarter compared with $4.30 in the year-ago quarter.

Total revenues in the first quarter decreased 0.9% year over year to $1.87 billion. The top line missed the Zacks Consensus Estimate of $1.88 billion. Organic growth was 1% in the quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)

DOV’s Margins Rose Y/Y in Q1

Cost of sales fell 5.6% year over year to $1.12 billion in the reported quarter. Gross profit increased 6.9% year over year to $745.5 million. The gross margin was 40% compared with the year-ago quarter’s 37%.

Selling, general and administrative expenses rose 1.4% to $449 million from the prior-year quarter. Adjusted EBITDA increased 10% year over year to $448 million. The adjusted EBITDA margin was 24% in the quarter compared with the prior-year quarter’s 21.6%.

Dover’s Q1 Segmental Performances

The Engineered Products segment’s revenues fell 23.5% year over year to $255 million in the quarter. The reported figure fell below our estimate of $288 million. The segment’s adjusted EBITDA decreased 27.3% year over year to $48.9 million. The figure missed our estimate of $58.9 million.

The Clean Energy & Fueling segment’s revenues were $491 million compared with the prior-year quarter’s $445 million. The figure beat our estimate of $469 million. The segment’s adjusted EBITDA was $94 million, up from the prior-year quarter’s $77.6 million. The figure topped our estimate of $93 million.

The Imaging & Identification segment’s revenues moved up 1.2% year over year to $280 million. The reported figure beat our projection of $276 million. The segment’s adjusted EBITDA improved 10.9% year over year to $82 million. The figure topped our estimate of $75 million.

The Pumps & Process Solutions segment’s revenues increased 6% year over year to $493.6 million in the first quarter but missed our estimate of $495 million. The adjusted EBITDA in the segment totaled $164 million compared with the year-ago quarter’s $131 million. The reported figure beat our projection of $141 million.

The Climate & Sustainability Technologies segment’s revenues fell to $348 million from $364 million in the year-earlier quarter. We predicted revenues of $360 million for this segment. The segment’s adjusted EBITDA totaled $59 million compared with $58 million in first-quarter 2024. The figure lagged our estimate of $65 million.

DOV’s Bookings Rose Y/Y in Q1

Dover’s bookings at the end of the first quarter were worth $1.99 billion compared with the prior-year quarter’s $2 billion. Total bookings  fell short of our estimate of $2.12 billion.

Dover’s Q1 Financial Position

The company had a free cash flow of $109 million in the first quarter compared with $106 million in the year-ago quarter. The cash flow from operations amounted to $157 million in the quarter under review compared with the prior-year quarter’s $146 million.

DOV’s 2025 Outlook

Dover expects adjusted EPS between $9.20 and $9.40 for 2025. It anticipates year-over-year revenue growth of 2-4%.

Dover Stock’s Price Performance

The company’s shares have lost 6.1% in the past year compared with the industry’s decline of 9.9%.

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DOV’s Zacks Rank

Dover currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Manufacturing Stocks Awaiting Results

Flowserve Corporation FLS is scheduled to release its first-quarter 2025 results on April 29. The Zacks Consensus Estimate for Flowserve’s first-quarter 2024 earnings is pegged at 59 cents per share, suggesting year-over-year growth of 1.7%.

The Zacks Consensus Estimate for Flowserve’s top line is pegged at $1.11 billion, indicating an increase of 1.9% from the prior year’s actual. FLS has a trailing four-quarter average surprise of 5.7%.

Applied Industrial Technologies AIT is scheduled to release its third-quarter fiscal 2025 results on May 1. The Zacks Consensus Estimate for AIT’s earnings is pegged at $2.40 per share, suggesting a year-over-year decline of 2.3%.

The Zacks Consensus Estimate for the Applied Industrial Technologies’ top line is pegged at $1.16 billion, indicating an increase of 1.3% from the prior year’s actual. Applied Industrial Technologies has a trailing four-quarter average surprise of 5.3%.

Chart Industries, Inc. GTLS is scheduled to release its first-quarter 2024 results on May 1. The Zacks Consensus Estimate for Chart Industries’ earnings is pegged at $1.90 per share, suggesting a year-over-year rise of 27.5%.
The Zacks Consensus Estimate for the company’s top line is pegged at $1.01 billion, indicating an increase of 6.1% from the prior year’s actual.

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