Dover Corp - DOV STOCK NEWS

TWG, part of Dover (NYSE: DOV), announced the launch of its Configure, Price, Quote (CPQ) tool on November 4, 2020. This tool enhances customer experience by allowing quick product configuration, accurate quotes, and access to engineering drawings for customized solutions. CPQ aims to drive efficiencies for engineering and sales teams, enabling real-time configuration and quote generation. It serves as a competitive differentiator, streamlining the sales process for original equipment manufacturers and distributors, promoting productivity across multiple markets.

Vehicle Service Group (VSG), a part of Dover (NYSE: DOV), has announced a $7 million expansion of its Madison, IN facility aimed at increasing manufacturing capacity with a new paint line and enhanced operational flow. This initiative reflects VSG's commitment to safety, efficiency, and better product experiences. Groundbreaking is expected soon, with completion anticipated in late 2021. This expansion is crucial for supporting VSG's growth in its five core business segments, as it prepares for future demands leading up to its 100th anniversary.

Dover reported a 4% decline in revenue for Q3 2020, totaling $1.748 billion, and a 9% decrease year-to-date, amounting to $4.903 billion. Net earnings dropped 3% to $200 million, with diluted EPS at $1.38, down 1%. Adjusted net earnings remained stable at $232 million, maintaining an EPS of $1.60. Despite challenges, management expressed cautious optimism, noting improved order trends and a raised full-year GAAP EPS guidance to $4.52 to $4.57. A conference call is scheduled for further insights.

Hydro Systems, a part of Dover (NYSE: DOV), launched the RiteFlex family of portable dispensing products on Oct. 19, 2020. This new line includes the RiteFlex Handheld Dispenser and the RiteFlex Foamer/Sprayer, aimed at enhancing cleaning efficiency. The handheld dispensers provide versatile, cost-effective solutions for diluting cleaning products with flow rates of 1.0, 2.2, and 3.0 GPM. The RiteFlex Foamer/Sprayer offers a 2.2 GPM flow rate, which facilitates effective cleaning of large areas. These products are designed to improve chemical dispensing convenience and support sanitation needs during the ongoing pandemic.

Unified Brands, a subsidiary of Dover (NYSE: DOV), has partnered with Purafil to introduce a new air filtration solution for the foodservice industry. The innovative units, PURA 400, PURA 800, and PURA 1200, utilize advanced multi-stage filtration technology to remove 99.99% of virus-carrying aerosols, ensuring a safer dining environment. Each mobile unit offers varying coverage areas and features quiet operation. This initiative aims to help restaurants restore customer confidence while maintaining health safety during indoor dining.

Dover's Markem-Imaje has unveiled the 9330 coder, an inkjet printer tailored for small to medium-sized enterprises (SMEs). Designed for high quality and cost-effectiveness, it features an IP55 rated stainless-steel cabinet, automatic print head cleaning, and Intelli'Swap maintenance for quick ink circuit changes. The 9330 boasts over 8,000 hours of uptime and reduced operating costs via a new hydraulic system. Unique to this model is a yellow micro-pigmented ink option, enhancing flexibility across various materials. The coder integrates seamlessly with the CoLOS® information management system.

Dover (NYSE: DOV) announced the launch of two new brazed plate heat exchangers (BPHEs) by its subsidiary SWEP: the B4T Ultra (U) Pressure and the V250AS. The B4T-U targets CO₂ applications in refrigeration, offering compact design and high pressure tolerance. The V250AS is designed for air-conditioning, with an operating range of 80kW to 250kW, ideal for medium to low-efficiency systems. These developments enhance SWEP's competitive position in the market, reinforcing their commitment to energy-efficient heat transfer solutions.

Dover's subsidiary, Pole/Zero, has secured a $24.2 million delivery order from the U.S. Navy, part of a larger $66 million IDIQ contract awarded in 2018. The order includes antenna interface units and support for the P-8A Poseidon aircraft used by the Navy and allied forces in New Zealand and the Republic of Korea. Manufacturing will occur at Pole/Zero's facility in West Chester, Ohio, with deliveries expected by March 2023. This contract reinforces Dover's position in defense contracts and enhances its revenue base.

Dover (NYSE: DOV) will release its third quarter 2020 earnings on October 20, 2020, at 6:00 a.m. CT. A conference call will follow at 8:00 a.m. CT to discuss the results. Investors can participate by calling 1 (866) 882-5865 (domestic) or 1 (678) 894-3017 (international) with reservation number 5076397. The earnings release marks an important event for the company, known for its $7 billion annual revenue across five segments including Engineered Products and Fueling Solutions.