Dover (DOV) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Thu, April 23, 2026 astatine 11:22 AM CDT 37 min read

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Thursday, April 23, 2026 astatine 9:30 a.m. ET

• President and Chief Executive Officer — Richard Tobin

• Senior Vice President and Chief Financial Officer — Christopher Woenker

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Richard Tobin: Thanks, Jack. Good morning, everyone. Let's get started connected Slide 3. We're disconnected to a bully commencement successful 2026. Revenue grew treble digits successful the quarter, driven by continued spot successful our secular maturation exposed extremity markets acquired institution show and constructive request conditions crossed the portfolio. Bookings were a cardinal item successful the quarter. First 4th bookings totaled $2.5 billion, up 24% year-over-year. Book-to-bill was steadfast astatine 1.2% successful the 4th with each of the 5 segments good supra 1, providing improved visibility and assurance successful our forecast. Our equilibrium expanse remains beardown and continues to supply flexibility for semipermanent worth creation.

During the quarter, we continued to instrumentality superior to shareholders done opportunistic stock repurchases portion besides investing down high-return capableness expansions and productivity projects, our acquisition pipeline remains progressive arsenic concern M&A begins to prime up. As always, we volition stay disciplined with a absorption connected maximizing worth instauration done beardown fiscal returns and strategical fit. All in, adjusted EPS of $2.28 per stock was up 11% year-over-year.

While we are keeping a keen oculus connected the geopolitical machinations, and the imaginable impacts to the macro environment, we judge we are good positioned to thrust worth instauration for our shareholders fixed the underlying spot of our bid books, the flexibility of our concern exemplary and the operational execution of our teams and our opportunities for superior deployment. We stay committed to delivering double-digit adjusted EPS maturation for the afloat twelvemonth accordant with Dover's semipermanent show trajectory. We person chosen to reaffirm afloat guidance for the twelvemonth for the clip being. But clearly, based connected bid rates, we are driving to the apical extremity of the range. We volition revisit guidance adjacent quarter. Let's spell to Slide 5.

Engineered Products gross accrued modestly successful the 4th supported by beardown underlying request and steadfast bookings successful aerospace and defence components and concern winches, on with improving trends successful the planetary conveyance aftermarket business. Clean Energy and fueling grew 11% organically led by beardown shipments successful caller orders and cleanable vigor components, fluid transport and retail fueling. We proceed to spot assertive build-outs from nationalist retailers successful North America, which we judge is inactive successful the aboriginal innings of a multiyear maturation rhythm and we are besides seeing steadfast betterment successful Europe arsenic well. Margin show was driven by measurement leverage and operational execution with caller pricing actions expected to further bolster borderline show implicit the equilibrium of the year.