Dover's quarterly profit rises on high demand for AI data-center cooling products

Reuters

Jan 29

Dover's quarterly profit rises on high demand for AI data-center cooling products

Jan 29 - Industrial equipment maker Dover DOV.N on Thursday reported an increase in fourth-quarter profit and revenue, driven by data center-led demand for its liquid cooling products.

Significant investments in artificial intelligence infrastructure by hyperscalers have pumped up demand for Dover's industrial products, including the liquid cooling products used for high-performance computing and data centers.

"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," CEO Richard J. Tobin said.

The Illinois-based company forecast 2026 adjusted per-share profit to be between $10.45 and $10.65, and revenue growth of about 5% to 7%.

Profit at its Pumps & Process Solutions unit, which makes thermal connectors for data center liquid cooling systems, rose to $583.6 million in the quarter from $479.1 million a year earlier.

Dover's adjusted profit rose 14% to $2.51 per share in the quarter ended December 31, marginally surpassing analysts' average expectation of $2.50 per share, according to data compiled by LSEG.

Its revenue climbed 9% to $2.1 billion, compared to estimates of $2.08 billion.

(Reporting by Parth Chandna; Editing by Vijay Kishore)

((Parth.Chandna@thomsonreuters.com;))

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