Dover Corporation (NYSE:DOV) delivered fourth-quarter results that came in ahead of market expectations, supported by broad-based strength across its operating segments.
The company’s shares were up about 1.5% in pre-market trading after the announcement.
Adjusted earnings per share for the quarter reached $2.51, edging past analysts’ forecasts of $2.49. Revenue totaled $2.1 billion, slightly above the $2.09 billion consensus and up 9% year over year. Organic revenue growth came in at 5%, the strongest quarterly rate Dover achieved in 2025.
Performance in the quarter was underpinned by solid demand in secular growth end-markets, alongside improving trends in retail fueling systems and refrigerated door cases. On a GAAP basis, earnings from continuing operations increased 15% to $275 million, while adjusted earnings climbed 13% to $343 million compared with the prior-year period.
“Our fourth quarter results reflect broad-based top line strength across the portfolio, with organic growth reaching its highest level of the year,” said Richard J. Tobin, Dover’s President and Chief Executive Officer. “Our sustained strong bookings rates continue to support underlying momentum across the portfolio, providing confidence in the durability of demand as we enter the new year.”
For full-year 2025, Dover reported revenue of $8.1 billion, representing 4% growth versus 2024, with organic growth of 2%. Adjusted earnings per share for the year rose 16% to $9.61.
Looking ahead, the company issued 2026 guidance calling for adjusted EPS of $10.45 to $10.65, broadly in line with the analyst consensus of $10.63. Management expects total revenue growth of 5% to 7%, including organic growth of 3% to 5%.
Margins improved year over year, helped by volume leverage and ongoing productivity initiatives. Dover said it will carry meaningful restructuring and cost-optimization benefits into 2026, supporting continued margin expansion.
The group also reiterated its disciplined capital allocation approach, highlighting the accelerated share repurchase program launched in November as part of its commitment to returning capital to shareholders.