Dover Q4 2024 Earnings Report
Key Takeaways
Dover reported a 1% increase in revenue to $1.9 billion for Q4 2024. GAAP earnings from continuing operations decreased by 8% to $238 million, with diluted EPS down 7% to $1.72. However, adjusted earnings from continuing operations remained flat at $305 million, and adjusted diluted EPS increased by 1% to $2.20.
Dover's Q4 results were encouraging, demonstrating broad-based top line strength.
Order trends continued positively with a book-to-bill ratio above one, driven by secular-growth-exposed markets.
Margin improvement was solid, benefiting from a positive mix impact and cost containment actions.
The company completed acquisitions to expand its cryogenic components platform and high-priority Pumps & Process Solutions segment.
Dover
Dover
Dover Revenue by Segment
Forward Guidance
Dover expects to generate GAAP EPS from continuing operations in the range of $8.16 to $8.36 (adjusted EPS from continuing operations of $9.30 to $9.50), based on full year revenue growth of 2% to 4% (organic growth of 3% to 5%) in 2025.
Positive Outlook
- Underlying demand trends remain solid across the portfolio.
- Significant runway for continued margin improvement through positive mix benefits.
- Numerous cost and performance levers are in place.
- High confidence in Dover’s attractive end market exposures.
- Proven execution playbook.
Revenue & Expenses
Visualization of income flow from segment revenue to net income