Dover Q3 revenue rises 8%, slightly beats estimates

By Reuters News


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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.