Dover Corporation (DOV) Earnings
Dover Corporation is expected to report next earnings on July 23, 2026 (in NaN days), with a consensus EPS estimate of $2.72. DOV has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise +2.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $2.27 | $2.28 | +0.4% | $2.1B | +2.5% |
| Jan 29, 2026 | $2.48 | $2.51 | +1.2% | $2.1B | +3.7% |
| Oct 23, 2025 | $2.51 | $2.62 | +4.4% | $2.1B | -1.5% |
| Jul 24, 2025 | $2.39 | $2.44 | +2.1% | $2.0B | +0.5% |
| Apr 24, 2025 | $1.98 | $2.05 | +3.5% | $1.9B | -0.5% |
| Jan 30, 2025 | $2.20 | $2.20 | +0.0% | $1.9B | -1.1% |
| Oct 24, 2024 | $2.30 | $2.27 | -1.3% | $2.0B | -1.8% |
| Jul 25, 2024 | $2.21 | $2.36 | +6.8% | $2.2B | +1.4% |
| Apr 25, 2024 | $1.87 | $1.95 | +4.3% | $2.1B | +3.1% |
| Feb 1, 2024 | $2.42 | $2.45 | +1.2% | $2.1B | -2.7% |
| Jul 25, 2023 | $2.20 | $2.05 | -6.8% | $2.1B | -4.4% |
| Jan 31, 2023 | $2.15 | $2.16 | +0.5% | $2.1B | +0.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Revenue grew double digits in Q1 2026, driven by secular growth exposed end markets, acquired company performance, and constructive demand; - Bookings totaled $2.5 billion, up 24% YOY, book to bill 1.2, all segments above 1; - Balance sheet strong, returning capital to shareholders and investing in capacity expansions; - Acquisition pipeline active; - All-in adjusted EPS $2.28 per share, up 11% YOY; - Bookings momentum continued, trailing 12-month book-to-bill above 1; - Highlighted key end markets driving revenue growth, including AI, power generation, data centers, natural gas, biopharma, CO2 refrigeration; - Organic investments priority, $40M+ rightsizing savings expected in 2026; - Segmental outlooks: Engineered products low single-digit organic growth; Clean energy and fueling broad-based organic growth; Imaging and ID low single-digit growth; Pumps and process solutions benefit from industrial pumps growth; Climate and sustainability technologies double-digit organic growth
Guidance
- Reaffirmed full-year guidance for now, driving to top end of range, will revisit next quarter; - 2026 free cash flow guidance remains on track at 14%-16% of revenue; - Full-year capital expenditure estimate $190-$210 million; - Expect 2026 seasonality consistent with recent years, demand signals constructive
Segment performance
Engineered products: revenue increased modestly, supported by aerospace and defense components, industrial winches, and improving vehicle aftermarket; Clean energy and fueling: grew 11% organically, led by clean energy components, fluid transport, and retail fueling; Imaging and identification: stable performance, segment margins strong with foreign currency translation headwinds; Pumps and process solutions: revenue declined modestly, but segment margins expanded; Climate and sustainability technologies: delivered 15% organic growth, heat exchanges and CO2 refrigeration systems performed well
Analyst Q&A
Q: Nigel Coey with Wolf Research asked about unusual supply chain concerns and strength into April,
A: No pre-buy, demand outstripping supply driving longer lead times;
Q: Andrew Obin with Bank of America asked about Section 232 tariffs and organic growth guide,
A: Short supply chains helpful, Booking trends may require revisiting top-line expectations;
Q: Joe O'Day with Wells Fargo asked about triggers behind broad-based demand,
A: Clean energy and climate segments driving growth, secular growth drivers and investments;
Q: Mike Halloran with Baird asked about order pace and conversion to revenue,
A: Order pace consistent, orders booked to reserve capacity;
Q: Jeff Sprague with Vertical Research asked about supply constraints and climate segment capacity,
A: Demand supply constraint, adding capacity in heat exchangers and refrigeration;
Q: Andy Kapowitz with Citigroup asked about DPPS business and DII margin,
A: DPPS overcame tough comps, DII margin compression due to FX;
Q: Amit Mehrotra with UBS asked about engineered products growth and competitors,
A: Defense business driving growth, success based on lead times;
Q: Joe Ritchie with Goldman Sachs asked about TAM for CO2 and liquid cooling,
A: CO2 systems underpenetrated in NA, liquid cooling growing;
Q: Julian Mitchell with Barclays asked about bookings pace and price,
A: Pricing announced at start of year, bookings pace steady;
Q: Patrick Bauman with JP Morgan asked about orders conversion and price guidance,
A: Orders booked into Q3, price guidance moving target;
Q: Chris Snyder with Morgan Stanley asked about Q2 expectations and price,
A: Q2 expected to see growth, price action anecdotally but no new broad-based pricing