Dover Reports 24% Rise in Q1 Bookings to $2.5B and 11% EPS Gain
First-quarter bookings hit $2.5 billion, up 24% year-over-year, alongside revenue of $2.05 billion, a 10.1% increase driven by organic gains in Climate & Sustainability. EPS rose 11% to $2.28, and management foresees over $1 billion in AI and power infrastructure revenue plus $40 million in cost savings.
1. Q1 Financial Performance
Dover posted record first-quarter bookings of $2.5 billion, a 24% year-over-year increase, alongside revenue of $2.05 billion, up 10.1%, and earnings per share of $2.28, an 11% rise from the prior year.
2. Segment Highlights
The Climate & Sustainability segment delivered double-digit organic growth led by rapid adoption of liquid cooling for data centers. The Clean Energy & Fueling business benefited from multiyear greenfield build-outs, while Pumps & Process Solutions saw robust AI infrastructure demand and biopharma recovery.
3. Outlook and Cost Initiatives
Management anticipates over $1 billion in 2026 revenue from AI and power generation infrastructure, expects midyear recovery in natural gas compression orders, and projects $40 million in annual cost savings through facility consolidation and rightsizing efforts.