Dover Corporation (NYSE:DOV) saw its shares rise 3.71% in premarket trading Thursday after reporting strong second-quarter results and raising its full-year earnings outlook, fueled by solid execution and improving shipment trends across key segments.
For the second quarter, Dover delivered adjusted earnings per share of $2.44, topping Wall Street forecasts of $2.39. Revenue came in at $2.05 billion, up 5% from $1.95 billion a year earlier, and slightly ahead of the consensus estimate of $2.04 billion. Organic growth accounted for 1% of the revenue increase, while acquisitions contributed an additional 3%.
The quarter featured record-high consolidated segment margins, with total segment earnings margin reaching 23.2%. The Pumps & Process Solutions division remained the top performer, achieving an impressive 30.6% margin. The Clean Energy & Fueling segment reported an organic revenue increase of 8%, delivering a 19.7% margin.
“Dover’s second quarter results were solid, driven by excellent production performance and execution in the face of a highly dynamic global trading environment,” said Richard J. Tobin, Dover’s President and CEO.
“Top line performance accelerated in the quarter on broad-based shipment growth in short cycle components and continued strength in our secular-growth-exposed end markets.”
Following the strong first-half showing, Dover raised its full-year 2025 adjusted earnings per share guidance to a range of $9.35 to $9.55, up from the prior range of $9.20 to $9.40. The new outlook compares favorably to the analyst consensus of $9.36. The company also reaffirmed its forecast for full-year revenue growth of 4% to 6%.
Management noted a healthy order pipeline, supporting confidence in second-half performance. Dover ended the quarter with a strong backlog, with the majority of expected third-quarter revenue already booked. During the quarter, the company completed two acquisitions within its priority Pumps & Process Solutions segment, further strengthening its growth portfolio.
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