Thu, Jul 25, 10:40 AM (44 days ago)
For Q2 2024, Dover Corporation reported revenue of $2.18 billion, a 3.7% increase YoY, driven by 4.8% organic growth and 2.1% acquisition-related growth, offset by a 2.6% decline from dispositions and a 0.6% unfavorable currency impact. Net earnings rose 16.3% to $281.8 million, with diluted EPS of $2.04. Operating earnings grew 13.8% to $369.4 million, while gross profit margin improved to 37.7%. Cash flow from operations was $370.3 million, down due to tax payments from a divestiture. The company completed two acquisitions for $436 million and agreed to sell its Environmental Solutions Group for $2 billion. The net debt to capitalization ratio improved to 34.6%. Future growth is expected from strong demand in key segments, despite some market headwinds.