Dover Corporation DOV has reported fourth-quarter 2024 adjusted earnings per share (EPS) from continuing operations of $2.20, beating the Zacks Consensus Estimate of $2.08. In the year-ago quarter, the company reported an adjusted EPS of $2.18 (excluding after-tax purchase accounting expenses and after-tax gain on disposition of a minority-owned equity method investment).

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

On a reported basis, Dover has delivered earnings of $1.72 per share in the quarter, down 7% year over year.

Total revenues in the fourth quarter increased 1.3% year over year to $1.93 billion. The top line missed the Zacks Consensus Estimate of $1.98 billion. Organic growth grew 0.3% in the quarter.

DOV’s Margins Rose Y/Y in Q4

Cost of sales fell 0.1% year over year to $1.18 billion in the reported quarter. Gross profit rose 3.6% year over year to $746 million. The gross margin was 38.7% compared with the year-ago quarter’s 37.8%.

Selling, general and administrative expenses rose 8.9% to $451 million from the prior-year quarter. Adjusted EBITDA increased 4% year over year to $466 million. The adjusted EBITDA margin was 24.2% in the quarter compared with the prior-year quarter’s 23.5%.

Dover’s Q4 Segmental Performances

The Engineered Products segment’s revenues declined 12.2% year over year to $288 million in the quarter. The reported figure fell short of our expectation of $310 million. The segment’s adjusted EBITDA decreased 10.5% year over year to $64.9 million. The figure beat our estimate of $65.9 million.

The Clean Energy & Fueling segment’s revenues were $528 million compared with the prior-year quarter’s $449 million. The figure beat our estimate of $473 million. The segment’s adjusted EBITDA was $111 million, up from the prior-year quarter’s $87 million. The figure beat our estimate of $98 million.

The Imaging & Identification segment’s revenues moved up 1.2% year over year to $289 million. The reported figure missed our projection of $292 million. The segment’s adjusted EBITDA was $82 million, up 7.4% from the year-ago quarter. The figure topped our estimate of $80 million.

The Pumps & Process Solutions segment’s revenues rose 7.7% year over year to $479 million in the fourth quarter but missed our estimate of $488 million. The adjusted EBITDA of the segment totaled $155 million, up 15.9% from the year-ago quarter’s $134 million. The reported figure was higher than our projection of $148 million.

The Climate & Sustainability Technologies segment’s revenues fell 12.8% to $348 million from the $398 million reported in the year-earlier quarter. We had predicted revenues of $396 million for this segment. The segment’s adjusted EBITDA totaled $52.6 million compared with $78.6 million in fourth-quarter 2023. The figure was lower than our estimate of $74 million.

DOV’s Bookings Rose Y/Y in Q4

Dover’s bookings at the end of the fourth quarter were worth $1.94 billion compared with the prior-year quarter’s $1.79 billion. Total bookings were higher than our estimate of $1.87 billion.

Dover’s Q4 Financial Position

The company generated a free cash flow of $385 million in the fourth quarter of 2024 compared with the year-ago quarter’s $441 million. The cash flow from operations amounted to $439 million in the quarter under review compared with the prior-year quarter’s $499 million.

DOV’s 2024 Performance

Dover has reported an adjusted EPS of $8.29 in 2024 compared with $7.95 in the prior year. Earnings beat the Zacks Consensus Estimate of $8.17. Including one-time items, the bottom line was at $10.09, up from the $6.71 reported in 2023.

Sales rose 1% year over year to $7.75 billion from the prior-year figure of $7.68 billion. The top line missed the Zacks Consensus Estimate of $7.79 billion.

Dover’s 2025 Outlook

Dover expects adjusted EPS between $9.30 and $9.50 for 2025. It anticipates year-over-year revenue growth of 2-4%.

DOV Stock’s Price Performance

The company’s shares have gained 33.2% in the past year compared with the industry’s growth of 17.2%.

Image Source: Zacks Investment Research

Dover’s Zacks Rank

Dover currently has a Zacks Rank #3 (Hold). 

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

DOV’s Peer Performances

Applied Industrial Technologies AIT reported second-quarter fiscal 2025 (ended Dec. 31, 2024) earnings of $2.39 per share, which surpassed the Zacks Consensus Estimate of $2.22. The bottom line increased 6.7% year over year.

Net revenues of $1.07 billion missed the consensus estimate of $1.08 billion. The top line inched down 0.4% year over year. Acquisitions boosted the top line by 1.9%, while foreign-currency translation had a negative impact of 0.5%. Organic sales decreased 3.4% year over year. Selling days had a favorable impact of 1.6%.

Graco Inc.’s GGG fourth-quarter 2024 adjusted earnings of 64 cents per share missed the Zacks Consensus Estimate of 76 cents. The bottom line declined 20% year over year.

The company’s net revenues of $548.7 million missed the consensus estimate of $554 million. The top line fell 3% year over year due to lower demand in the Industrial segment.

Manufacturing Stocks Awaiting Results

Flowserve Corporation FLS is scheduled to release its fourth-quarter 2024 results on Feb. 18. The Zacks Consensus Estimate for FLS’s fourth-quarter 2024 earnings is pegged at 77 cents per share, suggesting year-over-year growth of 13.2%.

The Zacks Consensus Estimate for the company’s top line is pegged at $1.21 billion, indicating an increase of 3.9% from the prior year’s actual. FLS has a trailing four-quarter average surprise of 10.8%.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Dover Corporation (DOV) : Free Stock Analysis Report

Flowserve Corporation (FLS) : Free Stock Analysis Report

Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report

Graco Inc. (GGG) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research