Q2 2026 Dover Corp Earnings Call Transcript
Key Points
- Dover Corp (DOV) reported a 7% increase in all-in revenue, with 5% organic growth across all segments.
- Adjusted EBITDA margin expanded by 80 basis points to 25.9%, driven by operational execution and a healthy product mix.
- Adjusted EPS increased by 12% year-over-year to $2.74 per share, marking another quarter of double-digit earnings growth.
- Bookings increased by 16% year-over-year, with a book-to-bill ratio of 1.06, indicating strong order momentum.
- Dover Corp (DOV) raised its full-year adjusted EPS guidance, reflecting confidence in continued double-digit earnings growth.
- Refrigeration segment faced production throughput issues, impacting top-line growth by 1 to 1.5 points.
- Polymer Processing had a tough quarter, which muted the segment's top line, although it is expected to recover in the second half.
- The operating environment remains uncertain due to factors like geopolitics, input costs, and evolving trade and tariff conditions.
- Despite strong bookings, there was a sequential decline in absolute order dollars, raising concerns about order conversion into revenue.
- Capacity constraints in certain areas, such as heat exchangers, are leading to extended lead times and potential delays in meeting demand.
Good morning, and welcome to Dover's second-quarter 2026 earnings conference call. Speaking today are Richard J. Tobin, President and Chief Executive Officer; Chris Woenker, Senior Vice President and Chief Financial Officer; and Jack Dickens, Vice President, Investor Relations.
(Operator Instructions)
As a reminder, ladies and gentlemen, this conference call is being recorded, and your participation implies consent that our recording of this call. If you do not agree with these terms, please disconnect at this time. Thank you. I would now like to turn the call over to Mr. Jack Dickens.
Please go ahead, sir.
Thank you, Katie. Good morning, everyone, and thank you for joining our call. An audio version of this call will be available on our website through August 13, and a replay link of the webcast will be archived for 90 days. Our comments today will include forward-looking statements based on current expectations. Actual results and events could differ from those
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