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NEW YORK -On Thursday, Dover Corporation (NYSE:DOV) reported first quarter results that beat earnings expectations but fell short on revenue, while maintaining its full-year guidance.
The company’s shares remained unchanged in premarket trading following the release.
The diversified manufacturer posted adjusted earnings per share of $2.05, exceeding analyst estimates of $1.99. However, revenue of $1.87 billion came in slightly below the consensus forecast of $1.88 billion.
Dover’s Q1 revenue declined 1% YoY, though organic revenue grew 1%. The company saw strength in its Pumps & Process Solutions segment, which reported 6.5% organic growth. This was offset by weakness in the Engineered Products and Climate & Sustainability Technologies segments.
"Dover’s first quarter results were encouraging, with favorable book-to-bill across all five segments and growing momentum throughout the quarter providing support for our near-term outlook," said Richard J. Tobin, Dover’s President and CEO.
For the full year 2025, Dover reiterated its guidance for adjusted EPS of $9.20 to $9.40, in line with analyst expectations of $9.30. The company expects revenue growth of 2% to 4% for the year.
Dover’s stock was unchanged in early trading following the earnings release. The company’s ability to maintain its full-year outlook despite the slight Q1 revenue miss likely reassured investors about its growth trajectory for the remainder of 2025.
The company ended the quarter with a book-to-bill ratio above 1.0, indicating a healthy order backlog to support future revenue. Management expressed confidence in Dover’s positioning to navigate the current macroeconomic environment.
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