Sector: Industrials|Industry: Specialty Industrial Machinery|Market Cap: $25.80B|Employees: 25K
Dover Corporation is a diversified global manufacturer and solutions provider, delivering innovative equipment, components, software, and services across five operating segments. The company's core business model centers on producing critical components and engineered systems with aftermarket opportunities. Dover holds leading positions in niche industrial markets, leveraging its engineering capabilities and customer service excellence, with a global presence.
Revenue decreased by 0.9% year-over-year to $1.866 billion, primarily due to a disposition-related decline of 2.7% and an unfavorable impact from foreign currency translation of 1.1%. These declines were partially offset by acquisition-related revenue growth of 2.4% and organic revenue growth of 0.5%.
Gross profit increased by 6.9% year-over-year to $745.5 million, and gross profit margin increased by 300 basis points to 40.0%. This improvement was attributed to strategic pricing, positive product mix, and productivity and cost actions.
Earnings from continuing operations decreased by 60.3% to $239.2 million, or $1.73 diluted earnings per share, compared to $602.1 million, or $4.30 diluted earnings per share, in the prior year. The decrease is primarily due to the after-tax gain on the sale of De-Sta-Co in the prior year.