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Dover beats quarterly profit estimates as pumps, fueling units strengthen
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Dover beats quarterly profit estimates as pumps, fueling units strengthen
Jan 30, 2025 5:53 AM

Jan 30 (Reuters) - Diversified industrial manufacturer

Dover on Thursday beat fourth-quarter profit estimates,

helped by the strong performance in its fueling solutions and

pump system manufacturing segments.

Shares of the company, which makes consumable supplies,

aftermarket parts, software and digital solutions for various

industries, rose 2.5% before the bell.

Fourth-quarter sales rose 17.5% from a year ago at Dover's

clean energy and fueling unit, which makes dispensing equipment,

piping systems for liquefied gases and other related products.

The Grove, Illinois-based company's pumps and process unit,

which makes engineered precision components for several

industries including single-use pumps, flow meters and sensors,

noted a 7.7% rise in quarterly sales.

"Order trends continued their positive trajectory in the

quarter with book-to-bill above one, driven by robust bookings

in our secular-growth-exposed markets in single-use biopharma

components, thermal connectors, and CO2 systems," CEO Richard

Tobin said.

The company has been involved in a bigger push to streamline

its portfolio and focus on higher-margin operations.

Dover last year agreed to sell its environmental solutions

unit, which builds machinery and other ancillary equipment for

the waste-collection industry, to Terex Corp ( TEX ) in an

all-cash deal valued at $2 billion.

The company's quarterly adjusted profit of $2.20 per share

surpassed analysts' average estimate of $2.08, according to LSEG

compiled data.

Total revenue for the quarter ended Dec. 31 rose 1% to $1.93

billion, compared with estimates of $1.95 billion.

Dover expects a revenue growth of 2% to 4% for full-year

2025.

The company projected annual adjusted profit of $9.30 to

$9.50 per share, compared with estimates of $9.31 per share.

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