Dover Q3 revenue rises 8%, slightly beats estimates
Overview
US diversified manufacturer reported Q3 revenue up 8%, slightly beating analyst expectations
Adjusted EPS from continuing operations rose 10% to $2.88
Company repurchased over $330 mln of its shares during the quarter
Outlook
Dover expects 2026 GAAP EPS of $8.93 to $9.08
Company sees 2026 adjusted EPS of $10.60 to $10.75
Dover forecasts 2026 revenue growth of 7% to 8%
Result Drivers
GROWTH MARKETS - Co said revenue growth was led by secular growth markets in artificial intelligence, power generation infrastructure, energy transition, single-use biopharma, semiconductor manufacturing, and space launch
ORDER BACKLOG - Bookings increased across all five segments and outpaced shipments, with a significant portion of backlog scheduled for delivery in 2027, per CEO Richard J. Tobin
FOOD RETAIL FOOTPRINT CONSOLIDATION - Improving line rates in food retail as footprint consolidation was completed contributed to broad-based performance, according to management
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | $2.23 bln | $2.22 bln (14 Analysts) |
Q3 Adj EPS from cont ops | $2.88 | ||
Q3 EPS from cont ops | $2.50 |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for Dover Corporation is $240.50, about 20.3% above its October 21 closing price of $199.84
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 20 three months ago
Reuters Recommended Reads
Oct 20 - Switzerland's ABB Q3 revenue rises 14%, to form joint venture with Mitsubishi Electric
Oct 20 - 3M tops Q3 adjusted EPS estimates, raises guidance
Oct 21 - Sweden's SKF misses Q3 sales, operating profit estimates
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)