Dover reported Q4 revenue of $2.10 billion, a 9 percent increase over the prior year period, including 5 percent organic growth. GAAP earnings from continuing operations rose 15 percent to $275 million, driving diluted EPS of $2.01, up 17 percent year-over-year. On a non-GAAP basis, adjusted earnings from continuing operations climbed 13 percent to $343 million, with adjusted diluted EPS of $2.51, a 14 percent increase compared to Q4 of the prior year.

Volume leverage and ongoing productivity initiatives lifted segment operating margins, supported by high demand in secular-growth markets such as data-center cooling and retail fueling equipment. Management highlighted that restructuring and fixed-cost optimization benefits will carry into 2026, reinforcing margin conversion. Bookings rates remained robust across all divisions, underpinning confidence in sustained demand heading into the new year.

During 2025, Dover completed strategic bolt-on acquisitions that are performing above original deal models and initiated an accelerated share repurchase in November. With over $8 billion in annual revenue and a flexible balance sheet, the company projects 2026 GAAP EPS of $8.95 to $9.15 and adjusted EPS of $10.45 to $10.65, based on full-year revenue growth of 5 percent to 7 percent (3 percent to 5 percent organic). This guidance aligns with Dover’s long-term earnings growth trajectory and commitment to value creation.