NYSE$DOV
Dover Corp · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Dover's second quarter results were solid, driven by excellent production performance and strong shipment rates on orders received.
Dover reported a 4% increase in revenue to $2.2 billion, with organic revenue up 5%. GAAP net earnings increased by 16% to $282 million, and GAAP diluted EPS rose by 19% to $2.04. Adjusted net earnings increased by 14% to $327 million, and adjusted diluted EPS increased by 15% to $2.36.
- Volume strength was broad-based across the portfolio, with four of five operating segments posting top-line growth.
- Margin expansion was robust due to previous portfolio additions, positive mix impact from growth platforms, and cost containment and productivity actions.
- Order trends continued their positive trajectory, bolstering confidence in the second half outlook.
- Completed two highly strategic bolt-on acquisitions that enhance the clean energy components platform.
Headline financials
Revenue & EPS history
Dover · Revenue · Quarterly
$2.18B
Revenue by segment
Dover · $2.15B total across 5 segments · Q3 2023
- Engineered Products$504M-2.4%23.4%
- Climate & Sustainability Tech$476M+2.9%22.1%
- Clean Energy & Fueling$467M+0.6%21.7%
- Pumps & Process Solutions$431M-0.5%20.0%
- Imaging & Identification$276M-2.2%12.8%
Forward guidance
In 2024, Dover expects to generate GAAP EPS in the range of $10.80 to $10.95 (adjusted EPS of $9.05 to $9.20), based on full year revenue growth of 3% to 4% (2% to 3% on an organic basis).
Tailwinds
- Full year revenue growth of 3% to 4%
- Organic revenue growth of 2% to 3%
- GAAP EPS in the range of $10.80 to $10.95
- Adjusted EPS of $9.05 to $9.20
- Underlying end market demand is healthy and is supported by sustained order rates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+0.9%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+3.7%
Avg return
30 days after
58%
41 / 71 earnings
Positive
+12.1%
Q4 2018
Best reaction
-8.1%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.3% | +3.7% | -2.9% | |
| Q4 2025 | -3.4% | +2.7% | +9.5% | |
| Q3 2025 | +8.2% | +7.2% | +9.5% | |
| Q2 2025 | -1.9% | -1.7% | -5.4% | |
| Q1 2025 | +2.0% | +2.3% | +6.9% | |
| Q4 2024 | +4.1% | +2.8% | +0.7% | |
| Q3 2024 | -2.5% | +0.1% | +6.8% | |
| Q2 2024 | +5.0% | +4.6% | +4.7% | |
| Q1 2024 | +5.1% | +4.6% | +7.4% | |
| Q4 2023 | +6.0% | +7.4% | +11.7% | |
| Q3 2023 | -2.8% | -4.1% | +3.5% | |
| Q2 2023 | -3.5% | -4.2% | -7.1% | |
| Q1 2023 | -0.6% | +0.7% | -5.8% | |
| Q4 2022 | +9.3% | +11.4% | +5.6% | |
| Q3 2022 | +2.9% | +4.9% | +14.9% | |
| Q2 2022 | +2.3% | +1.2% | +9.7% | |
| Q1 2022 | -8.1% | -10.6% | -15.9% | |
| Q4 2021 | -1.7% | -0.1% | -6.4% | |
| Q3 2021 | +1.2% | +1.5% | +5.9% | |
| Q2 2021 | +8.0% | +8.1% | +13.5% | |
| Q1 2021 | +6.0% | +5.5% | +5.4% | |
| Q4 2020 | -2.1% | +0.3% | +3.6% | |
| Q3 2020 | +0.9% | +3.1% | +10.6% | |
| Q2 2020 | +2.2% | +2.7% | +6.2% | |
| Q1 2020 | +0.4% | +5.8% | +5.7% | |
| Q4 2019 | -2.2% | +0.1% | -11.7% | |
| Q3 2019 | +6.7% | +8.7% | +14.2% | |
| Q4 2018 | +12.1% | +10.6% | +14.2% | |
| Q3 2018 | +0.2% | +0.5% | +6.6% | |
| Q2 2018 | +8.2% | +6.8% | +13.2% | |
| Q1 2018 | -1.5% | -4.6% | +4.1% | |
| Q4 2017 | +2.4% | -0.4% | -5.6% | |
| Q3 2017 | +1.5% | +2.5% | +0.7% | |
| Q2 2017 | -2.7% | -1.1% | -1.6% | |
| Q1 2017 | +0.1% | +2.5% | +4.9% | |
| Q4 2016 | -2.1% | -4.6% | -1.7% | |
| Q3 2016 | +1.0% | +2.1% | +3.9% | |
| Q2 2016 | -2.4% | -1.0% | +1.8% | |
| Q1 2016 | -0.7% | — | — | |
| Q4 2015 | +4.2% | — | — | |
| Q3 2015 | +7.2% | — | — | |
| Q2 2015 | -2.6% | — | — | |
| Q1 2015 | -1.5% | — | — | |
| Q4 2014 | -3.3% | — | — | |
| Q3 2014 | +3.4% | — | — | |
| Q2 2014 | -0.3% | — | — | |
| Q1 2014 | +3.2% | — | — | |
| Q4 2013 | -3.5% | — | — | |
| Q3 2013 | +0.7% | — | — | |
| Q2 2013 | +6.1% | — | — | |
| Q1 2013 | -5.0% | — | — | |
| Q4 2012 | -2.0% | — | — | |
| Q3 2012 | +1.3% | — | — | |
| Q2 2012 | +4.6% | — | — | |
| Q1 2012 | -4.1% | — | — | |
| Q4 2010 | +1.0% | — | — | |
| Q4 2011 | +1.0% | — | — | |
| Q3 2011 | +0.4% | — | — | |
| Q2 2011 | +0.4% | — | — | |
| Q1 2011 | +3.4% | — | — | |
| Q3 2010 | -2.5% | — | — | |
| Q2 2010 | +5.4% | — | — | |
| Q1 2009 | +6.7% | — | — | |
| Q1 2010 | -0.3% | — | — | |
| Q4 2009 | +1.2% | — | — | |
| Q4 2007 | +1.2% | — | — | |
| Q3 2009 | -3.8% | — | — | |
| Q3 2008 | -3.8% | — | — | |
| Q4 2008 | -5.5% | — | — | |
| Q2 2009 | -5.5% | — | — | |
| Q2 2008 | -5.5% | — | — |
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