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.