Summary
Dover Corporation (DOV) reported a solid third quarter for 2025, with total revenue increasing by 4.8% year-over-year to $2.08 billion. This growth was driven by a combination of acquisitions (3.0%), favorable foreign currency translation (1.3%), and a modest organic revenue increase (0.5%). Profitability improved significantly, with gross profit rising by 9.2% and gross profit margin expanding by 160 basis points to 40.1%. Operating earnings saw a strong increase of 13.0%, indicating effective cost management and operational efficiencies. While earnings from continuing operations saw a slight decrease of 3.1% to $303.3 million, this was primarily due to a significant gain on dispositions recognized in the prior year. Excluding discontinued operations, net earnings were $302.0 million. The company also generated robust operating cash flow of $794.1 million for the first nine months of 2025, an increase from the prior year, and maintained a healthy free cash flow of $630.8 million. Strategic acquisitions in the Pumps & Process Solutions and Clean Energy & Fueling segments continue to be a key growth driver, alongside solid performance in Imaging & Identification. However, the Engineered Products and Climate & Sustainability Technologies segments experienced revenue declines, warranting close monitoring.
Financial Highlights
45 data points| Revenue | $2.08B |
| Cost of Revenue | $1.24B |
| Gross Profit | $833.59M |
| SG&A Expenses | $456.44M |
| Operating Income | $377.15M |
| Net Income | $302.00M |
| EPS (Basic) | $2.20 |
| EPS (Diluted) | $2.19 |
| Shares Outstanding (Basic) | 137.24M |
| Shares Outstanding (Diluted) | 138.03M |
Key Highlights
- 1Total revenue increased 4.8% to $2.08 billion in Q3 2025, driven by acquisitions, foreign currency, and organic growth.
- 2Gross profit increased 9.2% to $833.6 million, with gross profit margin expanding 160 basis points to 40.1%.
- 3Operating earnings rose 13.0% to $377.2 million, showcasing improved operational efficiency.
- 4Net earnings for the quarter were $302.0 million, though earnings from continuing operations decreased 3.1% due to prior year gains on dispositions.
- 5Strong operating cash flow of $794.1 million generated in the first nine months of 2025, up significantly from the prior year.
- 6Strategic acquisitions continue to bolster growth, particularly in the Pumps & Process Solutions and Clean Energy & Fueling segments.
- 7While overall performance is positive, revenue declined in the Engineered Products and Climate & Sustainability Technologies segments.