Dover Earnings Surpass Estimates in Q1, Revenues Decrease 1% Y/Y

Dover Corporation DOV has reported first-quarter 2025 adjusted earnings per share (EPS) from continuing operations of $2.05, beating the Zacks Consensus Estimate of $1.99. In the year-ago quarter, the company reported an adjusted EPS of $1.72 (excluding after-tax purchase accounting expenses and after-tax gain on disposition of a minority-owned equity method investment).On a reported basis, Dover has delivered an EPS of $1.73 in the quarter compared with $4.30 in the year-ago quarter.Total revenues in the first quarter decreased 0.9% year over year to $1.87 billion. The top line missed the Zacks Consensus Estimate of $1.88 billion. Organic growth was 1% in the quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Dover Corporation Price, Consensus and EPS Surprise  Dover Corporation price-consensus-eps-surprise-chart | Dover Corporation QuoteDOV’s Margins Rose Y/Y in Q1Cost of sales fell 5.6% year over year to $1.12 billion in the reported quarter. Gross profit increased 6.9% year over year to $745.5 million. The gross margin was 40% compared with the year-ago quarter’s 37%.Selling, general and administrative expenses rose 1.4% to $449 million from the prior-year quarter. Adjusted EBITDA increased 10% year over year to $448 million. The adjusted EBITDA margin was 24% in the quarter compared with the prior-year quarter’s 21.6%.Dover’s Q1 Segmental PerformancesThe Engineered Products segment’s revenues fell 23.5% year over year to $255 million in the quarter. The reported figure fell below our estimate of $288 million. The segment’s adjusted EBITDA decreased 27.3% year over year to $48.9 million. The figure missed our estimate of $58.9 million.The Clean Energy & Fueling segment’s revenues were $491 million compared with the prior-year quarter’s $445 million. The figure beat our estimate of $469 million. The segment’s adjusted EBITDA was $94 million, up from the prior-year quarter’s $77.6 million. The figure topped our estimate of $93 million.The Imaging & Identification segment’s revenues moved up 1.2% year over year to $280 million. The reported figure beat our projection of $276 million. The segment’s adjusted EBITDA improved 10.9% year over year to $82 million. The figure topped our estimate of $75 million.The Pumps & Process Solutions segment’s revenues increased 6% year over year to $493.6 million in the first quarter but missed our estimate of $495 million. The adjusted EBITDA in the segment totaled $164 million compared with the year-ago quarter’s $131 million. The reported figure beat our projection of $141 million.The Climate & Sustainability Technologies segment’s revenues fell to $348 million from $364 million in the year-earlier quarter. We predicted revenues of $360 million for this segment. The segment’s adjusted EBITDA totaled $59 million compared with $58 million in first-quarter 2024. The figure lagged our estimate of $65 million.DOV’s Bookings Rose Y/Y in Q1Dover’s bookings at the end of the first quarter were worth $1.99 billion compared with the prior-year quarter’s $2 billion. Total bookings  fell short of our estimate of $2.12 billion.Dover’s Q1 Financial PositionThe company had a free cash flow of $109 million in the first quarter compared with $106 million in the year-ago quarter. The cash flow from operations amounted to $157 million in the quarter under review compared with the prior-year quarter’s $146 million.DOV’s 2025 OutlookDover expects adjusted EPS between $9.20 and $9.40 for 2025. It anticipates year-over-year revenue growth of 2-4%.Dover Stock’s Price PerformanceThe company’s shares have lost 6.1% in the past year compared with the industry’s decline of 9.9%.  Image Source: Zacks Investment Research DOV’s Zacks RankDover currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Manufacturing Stocks Awaiting ResultsFlowserve Corporation FLS is scheduled to release its first-quarter 2025 results on April 29. The Zacks Consensus Estimate for Flowserve’s first-quarter 2024 earnings is pegged at 59 cents per share, suggesting year-over-year growth of 1.7%.The Zacks Consensus Estimate for Flowserve’s top line is pegged at $1.11 billion, indicating an increase of 1.9% from the prior year’s actual. FLS has a trailing four-quarter average surprise of 5.7%.Applied Industrial Technologies AIT is scheduled to release its third-quarter fiscal 2025 results on May 1. The Zacks Consensus Estimate for AIT’s earnings is pegged at $2.40 per share, suggesting a year-over-year decline of 2.3%.The Zacks Consensus Estimate for the Applied Industrial Technologies’ top line is pegged at $1.16 billion, indicating an increase of 1.3% from the prior year’s actual. Applied Industrial Technologies has a trailing four-quarter average surprise of 5.3%.Chart Industries, Inc. GTLS is scheduled to release its first-quarter 2024 results on May 1. The Zacks Consensus Estimate for Chart Industries’ earnings is pegged at $1.90 per share, suggesting a year-over-year rise of 27.5%.The Zacks Consensus Estimate for the company’s top line is pegged at $1.01 billion, indicating an increase of 6.1% from the prior year’s actual.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 Chart Industries, Inc. (GTLS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks