Dover Raises Full-Year Outlook as Organic Growth Accelerates
The diversified manufacturer raised its full-year adjusted earnings guidance to a range of $10.55 to $10.75 a share.
Dover (DOV), the diversified manufacturer, reported second-quarter revenue of $2.19 billion, a 7% increase from the prior year.
The results marked a shift in the company's growth trajectory. Organic revenue growth accelerated to 5% in the second quarter, compared to 1% organic growth in the same period last year.
Adjusted diluted earnings per share rose 12% to $2.74. This growth followed a 16% increase in the second quarter of 2024. Total adjusted segment EBITDA margin expanded to 25.9%, up from 25.1% a year earlier.
Growth was driven primarily by the Clean Energy & Fueling and Climate & Sustainability Technologies segments, which saw organic revenue increases of 8.6% and 8.3%, respectively. The Pumps & Process Solutions segment remained nearly flat, with organic growth of 0.4%.
Demand indicators strengthened as total consolidated bookings reached $2.33 billion, a double-digit increase from $2.01 billion in the second quarter of 2024.
Dover raised its full-year 2025 revenue growth guidance to a range of 6% to 8%, with organic growth expected between 4% and 6%. This is an increase from the previous guidance of 5% to 7% total growth and 3% to 5% organic growth.
The company also increased its full-year adjusted EPS guidance to $10.55 - $10.75 a share from the previous range of $10.45 - $10.65.
In the second quarter, the company incurred $4.3 million in costs related to a footprint reduction within the Climate & Sustainability Technologies segment.