Dover Q3 revenue rises 8%, slightly beats estimates

Dover

22/10/2026 12:02

Overview
US diversified manufacturer reported Q3 revenue up 8%, slightly beating analyst expectations
Adjusted EPS from continuing operations rose 10% to $2.88
Company repurchased over $330 mln of its shares during the quarter

Outlook
Dover expects 2026 GAAP EPS of $8.93 to $9.08
Company sees 2026 adjusted EPS of $10.60 to $10.75
Dover forecasts 2026 revenue growth of 7% to 8%

Result Drivers
GROWTH MARKETS - Co said revenue growth was led by secular growth markets in artificial intelligence, power generation infrastructure, energy transition, single-use biopharma, semiconductor manufacturing, and space launch
ORDER BACKLOG - Bookings increased across all five segments and outpaced shipments, with a significant portion of backlog scheduled for delivery in 2027, per CEO Richard J. Tobin
FOOD RETAIL FOOTPRINT CONSOLIDATION - Improving line rates in food retail as footprint consolidation was completed contributed to broad-based performance, according to management

Company press release: ID:nPn5MHNXxa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Slight Beat*
$2.23 bln
$2.22 bln (14 Analysts)
Q3 Adj EPS from cont ops
 
$2.88
 
Q3 EPS from cont ops
 
$2.50
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for Dover Corporation is $240.50, about 20.3% above its October 21 closing price of $199.84
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 20 three months ago

Reuters Recommended Reads
Oct 20 - Switzerland's ABB Q3 revenue rises 14%, to form joint venture with Mitsubishi Electric
Oct 20 - 3M tops Q3 adjusted EPS estimates, raises guidance
Oct 21 - Sweden's SKF misses Q3 sales, operating profit estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)