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0000029905falseDOVER Corp00000299052026-07-232026-07-230000029905us-gaap:CommonStockMember2026-07-232026-07-230000029905dov:A1250NotesDue2026Member2026-07-232026-07-230000029905dov:A0750NotesDue2027Member2026-07-232026-07-230000029905dov:A3.500NotesDue2033Member2026-07-232026-07-23


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________ 

FORM 8-K
_______________________________ 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 23, 2026
_______________________________
Image1.jpg
DOVER CORPORATION
(Exact name of registrant as specified in its charter)
______________________________________________
Delaware 1-4018 53-0257888
(State or other jurisdiction of incorporation)  (Commission File Number) (I.R.S. Employer Identification No.)
     
3005 Highland Parkway  
Downers Grove, Illinois
 60515
(Address of Principal Executive Offices) (Zip Code)
(630) 541-1540
(Registrant’s telephone number, including area code)
 ______________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock DOV New York Stock Exchange
1.250% Notes due 2026 DOV 26 New York Stock Exchange
0.750% Notes due 2027 DOV 27 New York Stock Exchange
3.500% Notes due 2033
DOV 33
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐            
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨


Item 2.02 Results of Operations and Financial Condition.
 
On July 23, 2026, Dover Corporation ("Dover") issued the Press Release attached hereto as Exhibit 99.1 announcing its results of operations for the quarter ended June 30, 2026.
 
The information in this Current Report on Form 8-K, including Exhibit 99.1, is being furnished to the Securities and Exchange Commission (the “SEC”) and shall not be deemed to be incorporated by reference into any of Dover’s filings with the SEC under the Securities Act of 1933, as amended.

Item 7.01 Regulation FD Disclosure.

As previously announced, on July 23, 2026, Dover will hold an investor conference call and webcast at 8:30 a.m. Central time (9:30 a.m. Eastern time) to discuss its results of operations for the quarter ended June 30, 2026.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are furnished as part of this report:

99.1 Press Release dated July 23, 2026

104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).




SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
   
Date: July 23, 2026 DOVER CORPORATION
  (Registrant)
     
  By: /s/ Ivonne M. Cabrera
    Ivonne M. Cabrera
    Senior Vice President, General Counsel & Secretary
     



EX-99.1 2 a202607238-kexhibit991pr.htm EX-99.1 Document

Exhibit 99.1
doverlogo.jpg
Investor Contact: Media Contact:
Jack Dickens Adrian Sakowicz
Vice President - Investor Relations
 Vice President - Communications
(630) 743-2566 (630) 743-5039
jdickens@dovercorp.com asakowicz@dovercorp.com

DOVER REPORTS SECOND QUARTER 2026 RESULTS


DOWNERS GROVE, Ill., July 23, 2026 — Dover (NYSE: DOV), a diversified global manufacturer, announced its financial results for the second quarter ended June 30, 2026. All comparisons are to the comparable period of the prior fiscal year, unless otherwise noted.
Three Months Ended June 30, Six Months Ended June 30,
($ in millions, except per share data)*
 2026 2025
% Change*
 2026 2025 % Change*
U.S. GAAP
Revenue $ 2,190  $ 2,050  7  % $ 4,244  $ 3,916  8  %
Earnings from continuing operations
313  280  12  % 551  519  6  %
Diluted EPS from continuing operations
2.31  2.03  14  % 4.06  3.76  8  %
Non-GAAP
Organic revenue change 5  % 5  %
Adjusted earnings from continuing operations 1
372  337  10  % 681  620  10  %
Adjusted diluted EPS from continuing operations
 2.74  2.44  12  % 5.02  4.49  12  %
1 Q2 and year-to-date 2026 and 2025 adjusted earnings from continuing operations exclude after-tax purchase accounting expenses, restructuring and other costs, and gain on dispositions.
* Totals, change and per share data may be impacted by rounding.

For the quarter ended June 30, 2026, Dover generated revenue of $2.2 billion, an increase of 7% (+5% organic). GAAP earnings from continuing operations of $313 million increased by 12%, and GAAP diluted EPS from continuing operations of $2.31 was up 14%. On an adjusted basis, earnings from continuing operations of $372 million were up 10% and adjusted diluted EPS from continuing operations of $2.74 was up 12%.

For the six months ended June 30, 2026, Dover generated revenue of $4.2 billion, an increase of 8% (+5% organic). GAAP earnings from continuing operations of $551 million increased by 6%, and GAAP diluted EPS from continuing operations of $4.06 was up 8%. On an adjusted basis, earnings from continuing operations of $681 million were up 10% and adjusted diluted EPS from continuing operations of $5.02 was up 12%.

A full reconciliation between GAAP and adjusted measures and definitions of non-GAAP and other performance measures are included as an exhibit herein.






MANAGEMENT COMMENTARY:

Dover’s President and Chief Executive Officer, Richard J. Tobin, said, "Dover delivered another strong quarter of double-digit earnings per share growth. Top-line performance was led by our secular-growth-exposed markets — which now account for approximately 25% of the total portfolio — and was complemented by broad-based, constructive trading conditions across the portfolio. Notably, all five segments delivered positive organic growth in the quarter, underscoring the breadth and durability of demand. Margin performance was solid, as continued operational execution on incremental volumes more than offset input cost inflation.

"Bookings outpaced shipments and grew double digits in the quarter, extending the streak of exceptional order rate momentum our businesses have posted over the past several quarters. The strength and breadth of our order book provide improved visibility to our second half outlook.

"Our balance sheet remains a competitive advantage, and we continue to invest capital behind our businesses. During the quarter, we advanced capacity-expansion projects to support growth and productivity investments to drive margins across the portfolio. Industrial M&A markets have improved this year, and our acquisition pipeline has a number of interesting opportunities in attractive end markets.

"As we look to the back half of the year, we are well positioned to drive continued value creation for our shareholders. The underlying strength of our order book, together with the flexibility of our business model and the optionality of our balance sheet, afford us the ability to respond dynamically to market conditions and quickly capitalize on opportunities as they arise. Accordingly, we are raising our full-year adjusted EPS guidance."

FULL YEAR 2026 GUIDANCE:

In 2026, Dover expects to generate GAAP EPS in the range of $8.94 to $9.14 (adjusted EPS of $10.55 to $10.75), based on full year revenue growth of 6% to 8% (organic growth of 4% to 6%).

CONFERENCE CALL INFORMATION:

Dover will host a webcast and conference call to discuss its second quarter results at 9:30 A.M. Eastern Time (8:30 A.M. Central Time) on Thursday, July 23, 2026. The webcast can be accessed on the Dover website at dovercorporation.com. The conference call will also be made available for replay on the website. Additional information on Dover's results and its operating segments can be found on the Company's website.

ABOUT DOVER:

Dover is a diversified global manufacturer and solutions provider with annual revenue of over $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 70 years, our team of approximately 24,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV."

FORWARD-LOOKING STATEMENTS:

This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements in this document other than statements of historical fact are statements that are, or could be deemed, "forward-looking" statements. Forward-looking statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond the Company's control. Factors that could cause actual results to differ materially from current expectations include, among other things, general economic conditions and conditions in the particular markets in which we operate; supply chain constraints and labor shortages that could result in production stoppages; inflation in material input costs and freight logistics; the impacts of natural or human-induced disasters, acts of war, terrorism, international conflicts, and public health crises or other future pandemics on the global economy and on our customers, suppliers, employees, business and cash flows; changes in customer demand and capital spending; competitive factors and pricing pressures; our ability to develop and launch new products in a cost-effective manner; changes in law, including the effect of tax laws and developments with respect to trade policy and tariffs; our ability to identify, consummate and successfully integrate and realize synergies from newly acquired businesses; acquisition valuation levels; the impact of interest rate and currency exchange rate fluctuations;





capital allocation plans and changes in those plans, including with respect to dividends, share repurchases, investments in research and development, capital expenditures and acquisitions; our ability to effectively deploy capital resulting from dispositions; our ability to derive expected benefits from restructurings, productivity initiatives and other cost reduction actions; the impact of legal compliance risks and litigation, including with respect to product quality and safety, cybersecurity and privacy; and our ability to capture and protect intellectual property rights. For details on the risks and uncertainties that could cause our results to differ materially from the forward-looking statements contained herein, we refer you to the documents we file with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2025, and our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These documents are available from the Securities and Exchange Commission, and on our website, dovercorporation.com. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.



INVESTOR SUPPLEMENT - SECOND QUARTER 2026

DOVER CORPORATION
CONSOLIDATED STATEMENTS OF EARNINGS
(unaudited)(in thousands)

Three Months Ended June 30, Six Months Ended June 30,
2026 2025 2026 2025
Revenue $ 2,190,021  $ 2,049,592  $ 4,243,644  $ 3,915,651 
Cost of goods and services 1,309,415  1,231,330  2,564,903  2,351,889 
Gross profit 880,606  818,262  1,678,741  1,563,762 
Selling, general and administrative expenses 488,819  463,665  981,045  912,856 
Operating earnings 391,787  354,597  697,696  650,906 
Interest expense 29,058  26,791  58,580  54,399 
Interest income (14,522) (17,935) (28,582) (38,189)
Gain on dispositions
 —  (2,176) —  (4,644)
Other income, net (10,447) (4,180) (18,902) (8,138)
Earnings before provision for income taxes 387,698  352,097  686,600  647,478 
Provision for income taxes 75,153  71,967  135,306  128,107 
Earnings from continuing operations 312,545  280,130  551,294  519,371 
Loss from discontinued operations, net
 (299) (1,066) (615) (9,486)
Net earnings
 $ 312,246  $ 279,064  $ 550,679  $ 509,885 
IS - 1

DOVER CORPORATION
QUARTERLY EARNINGS PER SHARE
(unaudited)(in thousands, except per share data*)
Earnings Per Share
2026 2025
Q1 Q2 Q2 YTD Q1 Q2 Q2 YTD Q3 Q4 FY 2025
Basic earnings (loss) per share:
Continuing operations $ 1.77  $ 2.32  $ 4.09  $ 1.74  $ 2.04  $ 3.78  $ 2.21  $ 2.02  $ 8.01 
Discontinued operations $ —  $ —  $ —  $ (0.06) $ (0.01) $ (0.07) $ (0.01) $ 0.05  $ (0.03)
Net earnings $ 1.77  $ 2.32  $ 4.08  $ 1.68  $ 2.03  $ 3.71  $ 2.20  $ 2.07  $ 7.99 
Diluted earnings (loss) per share:
Continuing operations $ 1.76  $ 2.31  $ 4.06  $ 1.73  $ 2.03  $ 3.76  $ 2.20  $ 2.01  $ 7.97 
Discontinued operations $ —  $ —  $ —  $ (0.06) $ (0.01) $ (0.07) $ (0.01) $ 0.05  $ (0.03)
Net earnings $ 1.75  $ 2.30  $ 4.06  $ 1.67  $ 2.02  $ 3.69  $ 2.19  $ 2.06  $ 7.94 
Net earnings (loss) and weighted average shares used in calculated earnings (loss) per share amounts are as follows:
Continuing operations $ 238,749  $ 312,545  $ 551,294  $ 239,241  $ 280,130  $ 519,371  $ 303,292  $ 274,766  $ 1,097,429 
Discontinued operations (316) (299) (615) (8,420) (1,066) (9,486) (1,296) 7,309  (3,473)
Net earnings $ 238,433  $ 312,246  $ 550,679  $ 230,821  $ 279,064  $ 509,885  $ 301,996  $ 282,075  $ 1,093,956 
Weighted average shares outstanding:
Basic 134,977  134,759  134,869  137,267  137,226  137,261  137,236  135,993  136,935 
Diluted 135,895  135,553  135,725  138,260  137,974  138,132  138,029  136,826  137,777 
Dividends paid per common share $ 0.52  $ 0.52  $ 1.04  $ 0.515  $ 0.515  $ 1.03  $ 0.52  $ 0.52  $ 2.07 
* Per share data may be impacted by rounding.


IS - 2

DOVER CORPORATION
QUARTERLY SEGMENT INFORMATION
(unaudited)(in thousands)
2026 2025
Q1 Q2 Q2 YTD Q1 Q2 Q2 YTD Q3 Q4 FY 2025
REVENUE
Engineered Products $ 266,639  $ 283,481  $ 550,120  $ 254,646  $ 275,944  $ 530,590  $ 279,705  $ 275,549  $ 1,085,844 
Clean Energy & Fueling 554,809  594,959  1,149,768  491,148  546,097  1,037,245  541,368  551,894  2,130,507 
Imaging & Identification 285,420  305,101  590,521  280,090  292,009  572,099  299,100  302,244  1,173,443 
Pumps & Process Solutions 537,810  552,709  1,090,519  493,573  520,554  1,014,127  550,920  583,623  2,148,670 
Climate & Sustainability Technologies 411,060  455,097  866,157  347,888  416,151  764,039  408,529  387,273  1,559,841 
Intersegment eliminations (2,115) (1,326) (3,441) (1,286) (1,163) (2,449) (1,781) (1,504) (5,734)
Total consolidated revenue $ 2,053,623  $ 2,190,021  $ 4,243,644  $ 1,866,059  $ 2,049,592  $ 3,915,651  $ 2,077,841  $ 2,099,079  $ 8,092,571 
EARNINGS FROM CONTINUING OPERATIONS
Segment Earnings:
Engineered Products $ 44,991  $ 57,798  $ 102,789  $ 44,114  $ 53,511  $ 97,625  $ 57,483  $ 62,158  $ 217,266 
Clean Energy & Fueling 99,041  128,546  227,587  85,644  107,771  193,415  118,665  105,990  418,070 
Imaging & Identification 77,457  84,976  162,433  77,575  76,937  154,512  81,772  78,451  314,735 
Pumps & Process Solutions 169,492  178,848  348,340  151,275  159,504  310,779  168,565  172,256  651,600 
Climate & Sustainability Technologies 63,995  75,826  139,821  52,119  77,262  129,381  76,002  60,264  265,647 
Total segment earnings 454,976  525,994  980,970  410,727  474,985  885,712  502,487  479,119  1,867,318 
Purchase accounting expenses 1
54,579  51,591  106,170  49,104  51,123  100,227  59,381  58,837  218,445 
Restructuring and other costs 2
36,795  24,635  61,430  9,397  23,210  32,607  15,913  29,466  77,986 
Gain on dispositions 3
—  —  —  (2,468) (2,176) (4,644) —  —  (4,644)
Corporate expense / other 4
49,238  47,534  96,772  51,959  41,875  93,834  31,515  39,190  164,539 
Interest expense 29,522  29,058  58,580  27,608  26,791  54,399  27,239  28,134  109,772 
Interest income (14,060) (14,522) (28,582) (20,254) (17,935) (38,189) (17,804) (17,039) (73,032)
Earnings before provision for income taxes 298,902  387,698  686,600  295,381  352,097  647,478  386,243  340,531  1,374,252 
Provision for income taxes 60,153  75,153  135,306  56,140  71,967  128,107  82,951  65,765  276,823 
Earnings from continuing operations $ 238,749  $ 312,545  $ 551,294  $ 239,241  $ 280,130  $ 519,371  $ 303,292  $ 274,766  $ 1,097,429 
SEGMENT EARNINGS MARGIN
Engineered Products 16.9 % 20.4 % 18.7 % 17.3 % 19.4 % 18.4 % 20.6 % 22.6 % 20.0 %
Clean Energy & Fueling 17.9 % 21.6 % 19.8 % 17.4 % 19.7 % 18.6 % 21.9 % 19.2 % 19.6 %
Imaging & Identification 27.1 % 27.9 % 27.5 % 27.7 % 26.3 % 27.0 % 27.3 % 26.0 % 26.8 %
Pumps & Process Solutions 31.5 % 32.4 % 31.9 % 30.6 % 30.6 % 30.6 % 30.6 % 29.5 % 30.3 %
Climate & Sustainability Technologies 15.6 % 16.7 % 16.1 % 15.0 % 18.6 % 16.9 % 18.6 % 15.6 % 17.0 %
Total segment earnings margin 22.2 % 24.0 % 23.1 % 22.0 % 23.2 % 22.6 % 24.2 % 22.8 % 23.1 %
1 Purchase accounting expenses are primarily comprised of amortization of intangible assets.
2 Restructuring and other costs relate to actions taken for headcount reductions, facility consolidations and site closures, product line exits, and other asset charges.
3 Gain on dispositions, including post-closing adjustments.
4 Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, shared business services and digital and IT overhead costs, deal-related expenses and various administrative expenses relating to the corporate headquarters.



IS - 3






DOVER CORPORATION
QUARTERLY ADJUSTED EARNINGS AND ADJUSTED EARNINGS PER SHARE (NON-GAAP)
(unaudited)(in thousands, except per share data*)
Non-GAAP Reconciliations
2026 2025
Q1 Q2 Q2 YTD Q1 Q2 Q2 YTD Q3 Q4 FY 2025
Adjusted earnings from continuing operations:
Earnings from continuing operations
 $ 238,749  $ 312,545  $ 551,294  $ 239,241  $ 280,130  $ 519,371  $ 303,292  $ 274,766  $ 1,097,429 
Purchase accounting expenses, pre-tax 1
54,579  51,591  106,170  49,104  51,123  100,227  59,381  58,837  218,445 
Purchase accounting expenses, tax impact 2
(12,692) (11,704) (24,396) (10,919) (11,367) (22,286) (14,067) (14,134) (50,487)
Restructuring and other costs, pre-tax 3
36,795  24,635  61,430  9,397  23,210  32,607  15,913  29,466  77,986 
Restructuring and other costs, tax impact 2
(8,048) (5,375) (13,423) (1,887) (4,642) (6,529) (3,230) (5,608) (15,367)
Gain on dispositions, pre-tax 4
—  —  —  (2,468) (2,176) (4,644) —  —  (4,644)
Gain on dispositions, tax-impact 2
—  —  —  689  435  1,124  —  —  1,124 
Adjusted earnings from continuing operations
 $ 309,383  $ 371,692  $ 681,075  $ 283,157  $ 336,713  $ 619,870  $ 361,289  $ 343,327  $ 1,324,486 
Adjusted diluted earnings per share from continuing operations:
Diluted earnings per share from continuing operations
 $ 1.76  $ 2.31  $ 4.06  $ 1.73  $ 2.03  $ 3.76  $ 2.20  $ 2.01  $ 7.97 
Purchase accounting expenses, pre-tax 1
0.40  0.38  0.78  0.36  0.37  0.73  0.43  0.43  1.59 
Purchase accounting expenses, tax impact 2
(0.09) (0.09) (0.18) (0.08) (0.08) (0.16) (0.10) (0.10) (0.37)
Restructuring and other costs, pre-tax 3
0.27  0.18  0.45  0.07  0.17  0.24  0.12  0.22  0.57 
Restructuring and other costs, tax impact 2
(0.06) (0.04) (0.10) (0.01) (0.03) (0.05) (0.02) (0.04) (0.11)
Gain on dispositions, pre-tax 4
—  —  —  (0.02) (0.02) (0.03) —  —  (0.03)
Gain on dispositions, tax-impact 2
—  —  —  —  —  0.01  —  —  0.01 
Adjusted diluted earnings per share from continuing operations
 $ 2.28  $ 2.74  $ 5.02  $ 2.05  $ 2.44  $ 4.49  $ 2.62  $ 2.51  $ 9.61 
1 Purchase accounting expenses are primarily comprised of amortization of intangible assets.
2 Adjustments were tax effected using the statutory tax rates in the applicable jurisdictions or the effective tax rate, where applicable, for each period.
3 Restructuring and other costs relate to actions taken for headcount reductions, facility consolidations and site closures, product line exits, and other asset charges. Q1 2026, Q2 2026 and YTD 2026 includes other costs of $3.0 million, $4.3 million and $7.3 million, respectively, associated with a footprint reduction in our Climate & Sustainability Technologies segment. Q2 2025, Q3 2025, Q4 2025 and FY 2025 include other costs of $1.9 million, $1.8 million, $2.6 million and $6.3 million, respectively, associated with a footprint reduction within our Climate & Sustainability Technologies segment. Q2 2025 and FY 2025 include other costs of $4.0 million associated with a product line exit within our Climate & Sustainability Technologies segment.
4 Gain on dispositions, including post-closing adjustments.
* Per share data and totals may be impacted by rounding.
IS - 4

DOVER CORPORATION
QUARTERLY ADJUSTED SEGMENT EBITDA (NON-GAAP)
(unaudited)(in thousands)
Non-GAAP Reconciliations
2026 2025
Q1 Q2 Q2 YTD Q1 Q2 Q2 YTD Q3 Q4 FY 2025
ADJUSTED SEGMENT EBITDA
Engineered Products:
Segment earnings $ 44,991  $ 57,798  $ 102,789  $ 44,114  $ 53,511  $ 97,625  $ 57,483  $ 62,158  $ 217,266 
Other depreciation and amortization 1
5,486  5,447  10,933  4,800  5,141  9,941  5,736  5,818  21,495 
Adjusted segment EBITDA 2
50,477  63,245  113,722  48,914  58,652  107,566  63,219  67,976  238,761 
Adjusted segment EBITDA margin 2
18.9 % 22.3 % 20.7 % 19.2 % 21.3 % 20.3 % 22.6 % 24.7 % 22.0 %
Clean Energy & Fueling:
Segment earnings $ 99,041  $ 128,546  $ 227,587  $ 85,644  $ 107,771  $ 193,415  $ 118,665  $ 105,990  $ 418,070 
Other depreciation and amortization 1
8,552  9,111  17,663  8,578  8,961  17,539  8,582  8,685  34,806 
Adjusted segment EBITDA 2
107,593  137,657  245,250  94,222  116,732  210,954  127,247  114,675  452,876 
Adjusted segment EBITDA margin 2
19.4 % 23.1 % 21.3 % 19.2 % 21.4 % 20.3 % 23.5 % 20.8 % 21.3 %
Imaging & Identification:
Segment earnings $ 77,457  $ 84,976  $ 162,433  $ 77,575  $ 76,937  $ 154,512  $ 81,772  $ 78,451  $ 314,735 
Other depreciation and amortization 1
4,208  4,373  8,581  4,093  4,229  8,322  4,091  5,155  17,568 
Adjusted segment EBITDA 2
81,665  89,349  171,014  81,668  81,166  162,834  85,863  83,606  332,303 
Adjusted segment EBITDA margin 2
28.6 % 29.3 % 29.0 % 29.2 % 27.8 % 28.5 % 28.7 % 27.7 % 28.3 %
Pumps & Process Solutions:
Segment earnings $ 169,492  $ 178,848  $ 348,340  $ 151,275  $ 159,504  $ 310,779  $ 168,565  $ 172,256  $ 651,600 
Other depreciation and amortization 1
14,012  14,004  28,016  12,601  13,131  25,732  14,256  14,238  54,226 
Adjusted segment EBITDA 2
183,504  192,852  376,356  163,876  172,635  336,511  182,821  186,494  705,826 
Adjusted segment EBITDA margin 2
34.1 % 34.9 % 34.5 % 33.2 % 33.2 % 33.2 % 33.2 % 32.0 % 32.8 %
Climate & Sustainability Technologies:
Segment earnings $ 63,995  $ 75,826  $ 139,821  $ 52,119  $ 77,262  $ 129,381  $ 76,002  $ 60,264  $ 265,647 
Other depreciation and amortization 1
8,069  8,001  16,070  7,325  7,605  14,930  7,558  7,856  30,344 
Adjusted segment EBITDA 2
72,064  83,827  155,891  59,444  84,867  144,311  83,560  68,120  295,991 
Adjusted segment EBITDA margin 2
17.5 % 18.4 % 18.0 % 17.1 % 20.4 % 18.9 % 20.5 % 17.6 % 19.0 %
Total Segments:
Total segment earnings 2, 3
$ 454,976  $ 525,994  $ 980,970  $ 410,727  $ 474,985  $ 885,712  $ 502,487  $ 479,119  $ 1,867,318 
Other depreciation and amortization 1
40,327  40,936  81,263  37,397  39,067  76,464  40,223  41,752  158,439 
Total Adjusted segment EBITDA 2
495,303  566,930  1,062,233  448,124  514,052  962,176  542,710  520,871  2,025,757 
Total Adjusted segment EBITDA margin 2
24.1 % 25.9 % 25.0 % 24.0 % 25.1 % 24.6 % 26.1 % 24.8 % 25.0 %
1 Other depreciation and amortization relates to property, plant, and equipment and intangibles, and excludes amounts related to purchase accounting expenses and restructuring and other costs.
2 Refer to Non-GAAP Measures Definitions section for definition.
3 Refer to Quarterly Segment Information section for reconciliation of total segment earnings to earnings from continuing operations.
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DOVER CORPORATION
QUARTERLY EARNINGS FROM CONTINUING OPERATIONS TO ADJUSTED SEGMENT EBITDA RECONCILIATION (NON-GAAP)
(unaudited)(in thousands)
Non-GAAP Reconciliations
2026 2025
Q1 Q2 Q2 YTD Q1 Q2 Q2 YTD Q3 Q4 FY 2025
Earnings from continuing operations
 $ 238,749  $ 312,545  $ 551,294  $ 239,241  $ 280,130  $ 519,371  $ 303,292  $ 274,766  $ 1,097,429 
Provision for income taxes 60,153  75,153  135,306  56,140  71,967  128,107  82,951  65,765  276,823 
Earnings before provision for income taxes 298,902  387,698  686,600  295,381  352,097  647,478  386,243  340,531  1,374,252 
Interest income (14,060) (14,522) (28,582) (20,254) (17,935) (38,189) (17,804) (17,039) (73,032)
Interest expense 29,522  29,058  58,580  27,608  26,791  54,399  27,239  28,134  109,772 
Corporate expense / other 1
49,238  47,534  96,772  51,959  41,875  93,834  31,515  39,190  164,539 
Gain on dispositions 2
—  —  —  (2,468) (2,176) (4,644) —  —  (4,644)
Restructuring and other costs 3
36,795  24,635  61,430  9,397  23,210  32,607  15,913  29,466  77,986 
Purchase accounting expenses 4
54,579  51,591  106,170  49,104  51,123  100,227  59,381  58,837  218,445 
Total segment earnings 5
454,976  525,994  980,970  410,727  474,985  885,712  502,487  479,119  1,867,318 
Add: Other depreciation and amortization 6
40,327  40,936  81,263  37,397  39,067  76,464  40,223  41,752  158,439 
Total adjusted segment EBITDA 5
$ 495,303  $ 566,930  $ 1,062,233  $ 448,124  $ 514,052  $ 962,176  $ 542,710  $ 520,871  $ 2,025,757 
1 Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, shared business services and digital and IT overhead costs, deal-related expenses and various administrative expenses relating to the corporate headquarters.
2 Gain on dispositions, including post-closing adjustments.
3 Restructuring and other costs relate to actions taken for headcount reductions, facility consolidations and site closures, product line exits, and other asset charges.
4 Purchase accounting expenses are primarily comprised of amortization of intangible assets.
5 Refer to Non-GAAP Measures Definitions section for definition.
6 Other depreciation and amortization relates to property, plant, and equipment and intangibles, and excludes amounts related to purchase accounting expenses and restructuring and other costs.
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DOVER CORPORATION
REVENUE GROWTH FACTORS AND ADJUSTED EPS GUIDANCE RECONCILIATIONS (NON-GAAP)
(unaudited)

Non-GAAP Reconciliations

Revenue Growth Factors
2026
Q2 Q2 YTD
Organic
Engineered Products 2.1  % 2.1  %
Clean Energy & Fueling
 8.6  % 9.8  %
Imaging & Identification 2.9  % (0.1) %
Pumps & Process Solutions 0.4  % (0.2) %
Climate & Sustainability Technologies
 8.3  % 11.5  %
Total Organic 4.8  % 5.0  %
Acquisitions 1.2  % 1.5  %
Currency translation 0.9  % 1.9  %
Total* 6.9  % 8.4  %
* Totals may be impacted by rounding.
2026
Q2 Q2 YTD
Organic
United States 7.9  % 9.9  %
Europe (5.0) % (4.6) %
Asia 8.5  % 2.0  %
Other Americas 8.8  % 5.9  %
Other (0.9) % (2.0) %
Total Organic 4.8  % 5.0  %
Acquisitions 1.2  % 1.5  %
Currency translation 0.9  % 1.9  %
Total* 6.9  % 8.4  %
* Totals may be impacted by rounding.

Adjusted EPS Guidance Reconciliation*
Range
2026 Guidance for Earnings per Share from Continuing Operations (GAAP)
 $ 8.94  $ 9.14 
Purchase accounting expenses, net
 1.20 
Restructuring and other costs, net 0.41 
2026 Guidance for Adjusted Earnings per Share from Continuing Operations (Non-GAAP)
 $ 10.55  $ 10.75 

* Per share data and totals may be impacted by rounding.
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DOVER CORPORATION
QUARTERLY CASH FLOW AND FREE CASH FLOW (NON-GAAP)
(unaudited)(in thousands)

Quarterly Cash Flow
2026 2025
Q1 Q2 Q2 YTD Q1 Q2 Q2 YTD Q3 Q4 FY 2025
Net Cash Flows Provided By (Used In):
Operating activities $ 190,997  $ 236,171  $ 427,168  $ 157,474  $ 212,340  $ 369,814  $ 424,245  $ 543,946  $ 1,338,005 
Investing activities (61,660) (44,181) (105,841) (74,186) (681,584) (755,770) (58,857) (71,967) (886,594)
Financing activities (161,451) (73,586) (235,037) (122,234) (84,235) (206,469) (73,878) (344,523) (624,870)

Quarterly Free Cash Flow (Non-GAAP)
2026 2025
Q1 Q2 Q2 YTD Q1 Q2 Q2 YTD Q3 Q4 FY 2025
Cash flow from operating activities
 $ 190,997  $ 236,171  $ 427,168  $ 157,474  $ 212,340  $ 369,814  $ 424,245  $ 543,946  $ 1,338,005 
Less: Capital expenditures (59,808) (47,783) (107,591) (48,192) (60,932) (109,124) (54,150) (56,989) (220,263)
Free cash flow $ 131,189  $ 188,388  $ 319,577  $ 109,282  $ 151,408  $ 260,690  $ 370,095  $ 486,957  $ 1,117,742 
Cash flow from operating activities as a percentage of revenue 9.3 % 10.8 % 10.1 % 8.4 % 10.4 % 9.4 % 20.4 % 25.9 % 16.5 %
Cash flow from operating activities as a percentage of adjusted earnings from continuing operations
 61.7 % 63.5 % 62.7 % 55.6 % 63.1 % 59.7 % 117.4 % 158.4 % 101.0 %
Free cash flow as a percentage of revenue 6.4 % 8.6 % 7.5 % 5.9 % 7.4 % 6.7 % 17.8 % 23.2 % 13.8 %
Free cash flow as a percentage of adjusted earnings from continuing operations
 42.4 % 50.7 % 46.9 % 38.6 % 45.0 % 42.1 % 102.4 % 141.8 % 84.4 %

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DOVER CORPORATION
PERFORMANCE MEASURES
(unaudited)(in thousands)
2026 2025
Q1 Q2 Q2 YTD Q1 Q2 Q2 YTD Q3 Q4 FY 2025
BOOKINGS
Engineered Products $ 294,009  $ 277,148  $ 571,157  $ 264,538  $ 276,571  $ 541,109  $ 273,278  $ 281,237  $ 1,095,624 
Clean Energy & Fueling
 615,197  602,624  1,217,821  543,859  526,819  1,070,678  509,553  587,041  2,167,272 
Imaging & Identification 312,646  302,771  615,417  288,169  292,092  580,261  292,229  302,047  1,174,537 
Pumps & Process Solutions 597,578  590,020  1,187,598  499,287  530,158  1,029,445  510,960  500,779  2,041,184 
Climate & Sustainability Technologies
 646,960  560,272  1,207,232  395,623  384,246  779,869  415,099  470,081  1,665,049 
Intersegment eliminations (2,714) (1,482) (4,196) (1,892) (1,295) (3,187) (1,380) (1,472) (6,039)
Total consolidated bookings $ 2,463,676  $ 2,331,353  $ 4,795,029  $ 1,989,584  $ 2,008,591  $ 3,998,175  $ 1,999,739  $ 2,139,713  $ 8,137,627 



IS - 9

Non-GAAP Measures Definitions

In an effort to provide investors with additional information regarding our results as determined by GAAP, management also discloses non-GAAP information that management believes provides useful information to investors. Adjusted earnings from continuing operations, adjusted diluted earnings per share from continuing operations, total segment earnings, total segment earnings margin, adjusted segment EBITDA, adjusted segment EBITDA margin, free cash flow, free cash flow as a percentage of revenue, free cash flow as a percentage of adjusted earnings from continuing operations, and organic revenue growth are not financial measures under GAAP and should not be considered as a substitute for earnings from continuing operations, diluted earnings per share from continuing operations, cash flows from operating activities, or revenue as determined in accordance with GAAP, and they may not be comparable to similarly titled measures reported by other companies.

The items described in our definitions herein, unless otherwise noted, relate solely to our continuing operations.

Adjusted earnings from continuing operations represents earnings from continuing operations adjusted for the effect of purchase accounting expenses, restructuring and other costs/benefits and gain/loss on dispositions. Purchase accounting expenses are primarily comprised of amortization of intangible assets. We exclude after-tax purchase accounting expenses because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions the Company consummates. While we have a history of acquisition activity, our acquisitions do not happen in a predictive cycle. Exclusion of purchase accounting expenses facilitates more consistent comparisons of operating results over time. We believe it is important to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. We exclude the other items because they occur for reasons that may be unrelated to the Company's commercial performance during the period and/or management believes they are not indicative of the Company's ongoing operating costs or gains in a given period.

Adjusted diluted earnings per share from continuing operations or adjusted earnings per share from continuing operations represents diluted earnings per share from continuing operations adjusted for the effect of purchase accounting expenses, restructuring and other costs/benefits and gain/loss on disposition.

Total segment earnings is defined as the sum of earnings before purchase accounting expenses, restructuring and other costs/benefits, gain/loss on dispositions, corporate expenses/other, interest expense, interest income and provision for income taxes for all segments. Total segment earnings margin is defined as total segment earnings divided by revenue.

Adjusted segment EBITDA is defined as segment earnings plus other depreciation and amortization expense, which relates to property, plant, and equipment and intangibles, and excludes amounts related to purchase accounting expenses and restructuring and other costs/benefits. Adjusted segment EBITDA margin is defined as adjusted segment EBITDA divided by revenue.

Management believes the non-GAAP measures above are useful to investors to better understand the Company’s ongoing profitability as they better reflect the Company's core operating results, offer more transparency and facilitate easier comparability to prior and future periods and to its peers.

Free cash flow represents net cash provided by operating activities minus capital expenditures. Free cash flow as a percentage of revenue equals free cash flow divided by revenue. Free cash flow as a percentage of adjusted earnings from continuing operations equals free cash flow divided by adjusted earnings from continuing operations. Management believes that free cash flow and free cash flow ratios are important measures of liquidity because they provide management and investors a measurement of cash generated from operations that is available for mandatory payment obligations and investment opportunities, such as funding acquisitions, paying dividends, repaying debt and repurchasing our common stock.

Management believes that reporting organic revenue growth, which excludes the impact of foreign currency exchange rates and the impact of acquisitions and dispositions, provides a useful comparison of our revenue and trends between periods. We do not provide a reconciliation of forward-looking organic revenue to the most directly comparable GAAP financial measure pursuant to the exception provided in Item 10(e)(1)(i)(B) of Regulation S-K because we are not able to provide a meaningful or accurate compilation of reconciling items. This is due to the inherent difficulty in accurately forecasting the timing and amounts of the items that would be excluded from the most directly comparable GAAP financial measure or are out of our control. For the same reasons, we are unable to address the probable significance of unavailable information which may be material.

IS - 10

Performance Measures Definitions

Bookings represent total orders received from customers in the current reporting period and exclude de-bookings related to orders received in prior periods, if any. This metric is an important measure of performance and an indicator of revenue order trends.

We use the above operational metric in monitoring the performance of the business. We believe the operational metric is useful to investors and other users of our financial information in assessing the performance of our segments.
IS - 11