Dover Q3 Beats: Adjusted EPS $2.88, Guidance $10.60-$10.75, $330M Buyback
DOV sits 19% above its 52-week low of $167.34.
Summary
Dover reported Q3 revenue of $2.23 billion (+8%) and adjusted EPS of $2.88 (+10%), with bookings of $2.31 billion outpacing shipments. Full-year adjusted EPS guidance of $10.60-$10.75 was reaffirmed, and the company repurchased over $330 million of shares in the quarter.
Key Events · Earnings and Guidance · DOV
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Q3 Revenue and EPS Grow
Revenue rose 8% to $2.23 billion (+7% organic) and adjusted diluted EPS from continuing operations rose 10% to $2.88, versus $2.62 a year earlier.
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Bookings Outpace Shipments
Q3 bookings of $2.31 billion exceeded revenue of $2.23 billion and increased across all five segments; management said a significant portion of backlog is scheduled for 2027 delivery.
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Full-Year Guidance Reaffirmed
2026 GAAP EPS guided to $8.93-$9.08 and adjusted EPS to $10.60-$10.75, on revenue growth of 7%-8% (organic 5%-6%).
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Over $330M of Shares Repurchased
Dover repurchased more than $330 million of its shares during Q3; diluted weighted average shares fell to 134.9 million from 138.0 million a year ago.
Analysis · DOV · Technology
Dover's Q3 came in ahead of last year on every line: revenue up 8% to $2.23 billion, adjusted EPS up 10% to $2.88. More important is bookings of $2.31 billion, which again outpaced shipments and rose in all five segments, with management saying a significant portion of backlog is scheduled for 2027 delivery. That supports the reaffirmed full-year adjusted EPS range of $10.60-$10.75, roughly double-digit growth. The company also bought back over $330 million of stock in the quarter, shrinking the diluted share count (134.9 million vs 138.0 million a year ago) and flattering per-share figures. For a $27 billion industrial, this is a solid in-line-to-better quarter rather than a thesis change.
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At the time of this filing, DOV was trading at $199.75 on NYSE in the Technology sector, with a market capitalization of approximately $26.9B. The 52-week trading range was $167.34 to $237.54. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.