Dover Q3 2024 Earnings Report
Key Takeaways
Dover reported a 1% increase in revenue to $2.0 billion for Q3 2024. GAAP earnings from continuing operations increased by 19% to $313 million, with GAAP diluted EPS up 22% to $2.26. Adjusted earnings from continuing operations increased by 4% to $314 million, and adjusted diluted EPS increased by 6% to $2.27.
Top line performance was broad-based across the majority of the portfolio.
Consolidated bookings continued their positive trajectory, with robust order rates in secular-growth-exposed markets.
The divestiture of the Environmental Solutions Group business was closed in early October, reducing exposure to cyclical capital goods.
The company expects to end the year with substantial firepower to pursue value-creating capital deployment to expand businesses in high growth, high margin priority platforms.
Dover
Dover
Dover Revenue by Segment
Forward Guidance
In 2024, Dover expects to generate GAAP EPS from continuing operations in the range of $10.11 to $10.21 (adjusted EPS from continuing operations of $8.08 to $8.18), based on full year revenue growth of 1% to 3%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income