DOVER REPORTS THIRD QUARTER 2026 RESULTS
DOVER Corp (DOV) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Investor Contact: Media Contact: Jack Dickens Adrian Sakowicz Vice President - Investor Relations Vice President - Communications (630) 743-2566 (630) 743-5039 jdickens@dovercorp.com asakowicz@dovercorp.com DOVER REPORTS THIRD QUARTER 2026 RESULTS DOWNERS GROVE, Ill.
How this was made
The 30-second read
Why it matters
The earnings beat and new full‑year guidance reinforce Dover's growth narrative, likely supporting a bullish stance on the stock.
Market read
Dover's strong earnings and forward guidance provide a clear catalyst for traders, with potential upside for the stock and related industrial sector names.
What to watch
Potential headwinds from supply‑chain constraints and labor shortages could temper the projected growth.
Dover reported third-quarter revenue of $2,233,839 and GAAP diluted EPS from continuing operations of $2.50, while maintaining full-year 2026 adjusted EPS guidance of $10.60 to $10.75.
Revenue increased 8%, organic revenue increased 7%, GAAP earnings from continuing operations increased 11%, adjusted diluted EPS from continuing operations increased 10%, and bookings exceeded revenue.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Revenue, three months ended September 30GAAP | $2.23B | – | 8 % |
| Organic revenue growth, three months ended September 30non-GAAP | 7.1 % | – | 7.1 % |
| Gross profit, three months ended September 30GAAP | $903.4M | – | – |
| Cost of goods and services, three months ended September 30GAAP | $1.33B | – | – |
| Selling, general and administrative expenses, three months ended September 30GAAP | $484.2M | – | – |
| Operating earnings, three months ended September 30GAAP | $419.2M | – | – |
| Earnings from continuing operations, three months ended September 30GAAP | $336.8M | – | 11 % |
| Net earnings, three months ended September 30GAAP | $333.3M | – | – |
| Diluted earnings per share from continuing operations, three months ended September 30GAAP | $ 2.50 | – | 14 % |
| Diluted net earnings per share, three months ended September 30GAAP | $ 2.47 | – | – |
| Adjusted earnings from continuing operations, three months ended September 30non-GAAP | $387.9M | – | 7 % |
| Adjusted diluted earnings per share from continuing operations, three months ended September 30non-GAAP | $ 2.88 | – | 10 % |
| Total segment earnings, three months ended September 30non-GAAP | $543.1M | – | – |
| Total segment earnings margin, three months ended September 30non-GAAP | 24.3 % | – | – |
| Total adjusted segment EBITDA, three months ended September 30non-GAAP | $585.0M | – | – |
| Total adjusted segment EBITDA margin, three months ended September 30non-GAAP | 26.2 % | – | – |
| Cash flow from operating activities, three months ended September 30GAAP | $438.8M | – | – |
| Capital expenditures, three months ended September 30other | $55.41M | – | – |
| Free cash flow, three months ended September 30non-GAAP | $383.3M | – | – |
| Free cash flow as a percentage of revenue, three months ended September 30non-GAAP | 17.2 % | – | – |
| Total consolidated bookings, three months ended September 30other | $2.31B | – | – |
| Revenue, nine months ended September 30GAAP | $6.48B | – | 8 % |
| Organic revenue growth, nine months ended September 30non-GAAP | 5.7 % | – | 5.7 % |
| Gross profit, nine months ended September 30GAAP | $2.58B | – | – |
| Operating earnings, nine months ended September 30GAAP | $1.12B | – | – |
| Earnings from continuing operations, nine months ended September 30GAAP | $888.1M | – | 8 % |
| Net earnings, nine months ended September 30GAAP | $884.0M | – | – |
| Diluted earnings per share from continuing operations, nine months ended September 30GAAP | $ 6.56 | – | 10 % |
| Adjusted earnings from continuing operations, nine months ended September 30non-GAAP | $1.07B | – | 9 % |
| Adjusted diluted earnings per share from continuing operations, nine months ended September 30non-GAAP | $ 7.89 | – | 11 % |
| Cash flow from operating activities, nine months ended September 30GAAP | $865.9M | – | – |
| Free cash flow, nine months ended September 30non-GAAP | $702.9M | – | – |
| Total consolidated bookings, nine months ended September 30other | $7.11B | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Engineered ProductsOrganic revenue growth was (1.6) %. | $274.9M | – | (1.6) % |
| Clean Energy & FuelingOrganic revenue growth was 12.1 %. | $606.0M | – | 12.1 % |
| Imaging & IdentificationOrganic revenue growth was 2.2 %. | $304.7M | – | 2.2 % |
| Pumps & Process SolutionsOrganic revenue growth was 1.2 %. | $568.5M | – | 1.2 % |
| Climate & Sustainability TechnologiesOrganic revenue growth was 17.9 %. | $481.5M | – | 17.9 % |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
full year 2026 outlook
- Revenuefull year revenue growth of 7% to 8% (organic growth of 5% to 6%)
- NoteGAAP EPS in the range of $8.93 to $9.08
- Noteadjusted EPS of $10.60 to $10.75
- NotePurchase accounting expenses, net 1.16
- NoteRestructuring and other costs, net 0.51
Capital returns
- Dover opportunistically repurchased over $330 million of its shares during the quarter.
- Dividends paid per common share were $ 0.525 in Q3 2026.
- Dividends paid per common share were $ 1.565 for Q3 YTD 2026.
What drove it
- Total organic revenue growth was 7.1 % in Q3 2026, with acquisitions contributing 0.5 % and currency translation contributing (0.1) %.
- Organic growth was 12.6 % in the United States and 15.1 % in Asia, while Europe was (3.0) % and Other Americas was (7.0) %.
- Management cited secular growth markets in artificial intelligence, power generation infrastructure, energy transition, single-use biopharma, semiconductor manufacturing, and space launch.
- Bookings increased across all five segments and outpaced shipments, according to management.
- Q3 total adjusted segment EBITDA margin was 26.2 %, compared with 26.1 % in Q3 2025 and 25.9 % in Q2 2026.
Concerns
- Engineered Products organic revenue growth was (1.6) % in Q3 2026.
- Organic revenue growth was (3.0) % in Europe and (7.0) % in Other Americas in Q3 2026.
- Climate & Sustainability Technologies segment earnings margin was 16.7 % in Q3 2026, compared with 18.6 % in Q3 2025.
- The company recorded $ 45,850 of purchase accounting expenses and $ 21,767 of restructuring and other costs in Q3 2026.
What to watch
- Delivery of the portion of backlog that management said is scheduled for 2027.
- Whether bookings continue to outpace shipments across all five segments.
- Progress toward full-year revenue growth of 7% to 8% and organic growth of 5% to 6%.
- Delivery against full-year GAAP EPS guidance of $8.93 to $9.08 and adjusted EPS guidance of $10.60 to $10.75.
- Capital deployment related to greenfield expansions, productivity and footprint optimization projects, bolt-on acquisitions, and share repurchases.
Balance sheet and cash flow
- Net cash flows provided by operating activities were $ 438,763 in Q3 2026 and $ 865,931 in Q3 YTD 2026.
- Investing activities used $ 96,767 in Q3 2026 and $ 202,608 in Q3 YTD 2026.
- Financing activities used $ 406,325 in Q3 2026 and $ 641,362 in Q3 YTD 2026.
- Free cash flow was $ 383,349 in Q3 2026 and $ 702,926 in Q3 YTD 2026.
- Cash flow from operating activities as a percentage of revenue was 19.6 % in Q3 2026 and 13.4 % in Q3 YTD 2026.
Analysis
Dover’s third-quarter performance showed accelerating top-line momentum. Revenue was $ 2,233,839, up 8 %, while organic revenue growth was 7.1 %. The company reported growth across Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies on an organic basis. Climate & Sustainability Technologies posted the strongest organic growth at 17.9 %, while Engineered Products declined (1.6) % organically. Geographic performance was strongest in the United States and Asia, where organic growth was 12.6 % and 15.1 %, respectively.
Profitability expanded in absolute terms. Gross profit was $ 903,426, operating earnings were $ 419,188, and earnings from continuing operations were $ 336,820, compared with $ 303,292 in the prior-year quarter. GAAP diluted EPS from continuing operations was $ 2.50, up 14 %, while adjusted diluted EPS from continuing operations was $ 2.88, up 10 %. Total segment earnings margin was 24.3 %, above 24.2 % in the prior-year quarter, and total adjusted segment EBITDA margin was 26.2 %, above 26.1 %.
Order activity supports management’s constructive demand commentary. Total consolidated bookings were $ 2,310,112 in the quarter, compared with revenue of $ 2,233,839. Management stated that bookings increased across all five segments and outpaced shipments, and that a significant portion of backlog is scheduled for delivery in 2027. The cited growth markets were artificial intelligence, power generation infrastructure, energy transition, single-use biopharma, semiconductor manufacturing, and space launch.
Cash generation remained strong. Operating cash flow was $ 438,763 and free cash flow was $ 383,349 in Q3 2026. Free cash flow as a percentage of revenue was 17.2 %. Dover used $ 406,325 in financing activities during the quarter and stated that it repurchased over $330 million of shares. It also announced two bolt-on acquisitions and continued investment in greenfield expansions, productivity, and footprint optimization.
Dover maintained its full-year 2026 outlook for revenue growth of 7% to 8%, organic growth of 5% to 6%, GAAP EPS of $8.93 to $9.08, and adjusted EPS of $10.60 to $10.75. Year-to-date results include revenue of $ 6,477,483, adjusted earnings from continuing operations of $ 1,068,950, adjusted diluted EPS of $ 7.89, and free cash flow of $ 702,926. The key areas requiring attention are the organic declines in Engineered Products, Europe, and Other Americas, as well as the lower Climate & Sustainability Technologies segment earnings margin relative to Q3 2025.
Management, verbatim
Dover delivered strong results in the third quarter. Top-line growth accelerated, led by our secular growth markets in artificial intelligence and power generation infrastructure, energy transition, single-use biopharma, semiconductor manufacturing, and space launch.
Richard J. Tobin, President and Chief Executive Officer
Order performance was a highlight, consistent with the trend we have seen throughout the year. Bookings increased across all five segments and again outpaced shipments, reinforcing our confidence in the forecast.
Richard J. Tobin, President and Chief Executive Officer
We are on track to deliver double-digit adjusted EPS growth in 2026, in line with our long-term algorithm.
Richard J. Tobin, President and Chief Executive Officer
Not in the filing
stated, not guessed- Cash balance
- Debt balance
- Gross margin
- Full-year 2026 gross margin guidance
- Full-year 2026 operating expense guidance
- Full-year 2026 tax-rate guidance
- Prior-quarter percentage changes for reported metrics
- Previous-release outlook for comparison against current reported results
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Dover Corp (NYSE:DOV) is a diversified global manufacturer with five operating segments, reporting its third‑quarter 2026 results via an SEC Form 8‑K.
Ticker impact
Dover Corp reported Q3 2026 results with 8% revenue growth and issued full-year 2026 guidance for GAAP EPS $8.93‑$9.08.
likely upward pressure as investors price in stronger earnings and solid guidance
The company posted double‑digit EPS growth and provided a GAAP EPS range that is above prior year, indicating improved profitability and may attract buying.
Market effects
Positive for industrial and manufacturing sectors as Dover's growth in AI, power generation, and clean energy signals demand strength.
U.S. industrial equities may see modest gains following Dover's upbeat outlook.
Limited to investors tracking diversified manufacturers; no broad macro impact.
Counterpoint
If the guidance is already priced in, the stock could face a short‑term pullback on profit‑taking.
Key entities
- companyDover Corp
Diversified global manufacturer reporting Q3 2026 results.
