Dover Corporation (NYSE:DOV), a diversified global manufacturer, announced its third-quarter 2025 financial results on Thursday, with shares moving higher after the company beat adjusted earnings expectations and raised its full-year guidance.
The manufacturer reported revenue of $2.078 billion, a 5% year-over-year increase, or a 1% organic increase, which fell short of the $2.111 billion analyst consensus estimate.
The company reported GAAP diluted EPS from continuing operations of $2.20, a 3% decrease. The adjusted diluted EPS from continuing operations was $2.62, which beat the analyst estimate of $2.51.
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Profitability and Segment Strength
Adjusted earnings of $361 million were up 15%, resulting in a record consolidated segment margin due to positive mix and rigorous cost containment. Management highlighted strong order trends providing good visibility into the next year.
Segment performance was robust, with Pumps & Process Solutions posting a segment earnings margin of 30.6% and Imaging & Identification achieving 27.3%.
The company announced a strategic footprint optimization, moving its Anthony glass door manufacturing to the Richmond, VA site for expected meaningful cost savings. Near-term headwinds were noted in vehicle aftermarket and refrigerated door cases.
Dover generated $424.245 million in net cash flows from operating activities for the quarter, yielding $370.095 million in free cash flow. The company emphasized its balance sheet strength for supporting value-creating acquisitions and capital return strategies.
Outlook
The company raised and narrowed its full-year 2025 adjusted EPS guidance from $9.35-$9.55 to $9.50-$9.60, with the midpoint exceeding consensus.
Full-year GAAP EPS guidance was narrowed to $8.06-$8.16. Full-year revenue growth is expected to be 4% to 6%.
CEO Commentary
CEO Richard J. Tobin noted the constructive outlook is supported by sustained order growth despite some macroeconomic uncertainty. The outlook acknowledges risks from tariffs.
“Order trends continued to post positive momentum, providing good visibility for the fourth quarter and into next year. Margin performance in the quarter was exemplary, with a record consolidated segment margin, a result of the positive mix impact from our growth platforms, solid execution, and our rigorous cost containment and productivity actions,” stated Tobin.
DFS Adopts NACS for EV Charging
Additionally, Dover Fueling Solutions (DFS), a part of Dover, announced the addition of a North American Charging Standard (NACS) cable option to its Wayne PWR DC fast charger. This operational update expands compatibility to nearly all electric vehicles (EVs), enabling direct charging for Tesla (NASDAQ:TSLA) and NACS-equipped models.
The NACS configuration allows site operators to select a setup that includes CCS1, NACS, or a combination of both connector types across the scalable Wayne PWR portfolio, which offers five power configurations ranging from 160kW to 640kW, thereby helping retailers future-proof their infrastructure investments.
Price Action: DOV shares were trading higher by 4.86% to $175.75 at last check Thursday.
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