Dover Corp Stock Price, News & Analysis

Dover's Board of Directors has announced a quarterly cash dividend of $0.505 per share, payable on December 15, 2022. This dividend will benefit shareholders of record as of November 30, 2022. Dover, a diversified global manufacturer with over $8 billion in annual revenue, operates across five segments, including Engineered Products and Clean Energy. The company employs over 25,000 people and is recognized for its operational agility in the markets it serves.

Dover (NYSE: DOV) announced that its President and CEO, Richard J. Tobin, will speak at the Baird 2022 Global Industrial Conference in Chicago, Illinois, on November 8, 2022, at 7:55 am CT. Investors can access a live audio webcast of the presentation via dovercorporation.com, with an archive available for 90 days. Dover is a global manufacturer with annual revenues exceeding $8 billion, operating across five segments, and recognized for its innovative solutions and entrepreneurial approach.

On October 27, 2022, Wilden, a brand of Dover (NYSE: DOV), announced the expansion of its metal Equalizer® Surge Dampeners with a new 76 mm model. These Integrated SD Series dampeners are designed to integrate seamlessly into Wilden's air-operated double-diaphragm pumps, significantly reducing fluid pressure fluctuations, thereby improving discharge flow and overall containment. The new model complements existing sizes of 25 mm, 38 mm, and 51 mm, making them suitable for various industries, including oil and gas, chemicals, and coatings.

Dover (NYSE: DOV) announced the launch of Markem-Imaje's MiVista™ connected printer services, aimed at enhancing daily coding operations for manufacturers. This IoT-driven service offers real-time visibility, automated monitoring, and advanced analytics based on extensive field data from over 4,000 printers. Key benefits include improved operational efficiency, continuous performance improvements, and rapid diagnostics for quick issue resolution. The service is currently available for the 9450 and 9750 continuous inkjet series, with phased rollouts planned.

Dover reported strong financial results for Q3 2022, with revenues of $2.2 billion, an increase of 7% year-over-year. Net earnings reached $286 million, up 8%, while diluted EPS rose by 10% to $2.00. For the first nine months, revenue increased 8% to $6.4 billion, and net earnings rose 5% to $802 million. Management noted improving supply chain conditions and a robust order backlog, but remains cautious about macroeconomic uncertainties. Full-year GAAP EPS guidance is between $7.40 and $7.50, with adjusted EPS expected between $8.40 and $8.50.

Dover's subsidiary SWEP announced significant global investments, including manufacturing plant expansions and a new R&D center. The Suzhou operation in China will transition to a larger facility, expected to open in early 2024, serving Asian and Australian markets. In Sweden, SWEP is expanding its Landskrona site with an environmentally-certified head office and a dedicated R&D center. These investments aim to enhance product delivery and meet growing demand driven by global decarbonization and sustainability trends, highlighting a commitment to innovation and efficiency.

Dover, through its subsidiary Cook Compression, has launched the COOK CLEAN sealing system aimed at significantly reducing methane emissions from reciprocating compressors. This innovative system achieves leakage rates of below 0.75 SCFM, improving compliance with emission regulations and enhancing operational efficiency. Key features include low-emission solid ring solutions and advanced purge and vent seals. Cook Compression positions itself as a strategic partner in decarbonization efforts, supporting natural gas recovery and equipment performance optimization.

Advansor, part of Dover Food Retail and Dover (NYSE: DOV), has launched the CuBig II, an innovative CO2 climate solution designed for supermarkets and industrial applications. This unit combines cooling, freezing, heating, and air conditioning into a compact and energy-efficient design, featuring technologies that offer energy savings of up to 60%. The CuBig II provides 450kW cooling capacity and 600kW heating, with simplified installation and delivery times under eight weeks. Advansor has over 12,000 systems installed globally, focusing on sustainable solutions using CO2 refrigerants.