Shares of Dover Corp. (NYSE: DOV) rose 5% in intra-day trading on Thursday after the diversified industrial manufacturer reported better-than-expected third-quarter earnings and reiterated confidence in its full-year outlook.
The company posted earnings per share of $2.62, topping analyst expectations of $2.51. Revenue grew 5% year-over-year to $2.08 billion, slightly below the $2.11 billion consensus estimate.
“We are pleased with Dover’s third-quarter performance,” said President and CEO Richard Tobin. “Top-line growth was supported by shipment strength in short-cycle components, continued momentum in secular-growth markets, and contributions from recent acquisitions.”
Tobin added that these gains helped offset short-term weakness in two capital goods-related markets — vehicle aftermarket and refrigerated door cases — both of which were expected to improve later in the year.
Dover reaffirmed its 2025 earnings forecast, expecting full-year EPS between $9.50 and $9.60, compared with the consensus estimate of $9.47.
