DOWNERS GROVE, Ill., July 25, 2024 /PRNewswire/ -- Dover (NYSE: DOV), a diversified global manufacturer, announced its financial results for the second quarter ended June 30, 2024. 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)

2024

2023

% Change*

2024

2023

% Change*

U.S. GAAP

Revenue

$       2,178

$       2,100

4 %

$       4,272

$       4,179

2 %

Net earnings 

282

242

16 %

914

471

94 %

Diluted EPS 

2.04

1.72

19 %

6.57

3.35

96 %

Non-GAAP

Organic revenue change

5 %

2 %

Adjusted net earnings 1

327

288

14 %

600

561

7 %

Adjusted diluted EPS

2.36

2.05

15 %

4.31

3.99

8 %

1 Q2 and year-to-date 2024 and 2023 adjusted net earnings exclude after tax purchase accounting expenses and restructuring and other costs. Year-to-date 2024 excludes the after tax gain on the sale of De-Sta-Co.* Change may be impacted by rounding.

SumoFlo CELE-8103-D Integral Display Transmitter offers reliable and instantaneous process metrics

DOWNERS GROVE, Ill., July 24, 2024 /PRNewswire/ -- PSG Biotech, part of PSG and Dover (NYSE: DOV) and a leading provider of pump and flow meter technologies for use in life science and biopharmaceutical process applications, today announced the release of the new SumoFlo® CELE-8103-D Integral Display Transmitter for its patented single-use Coriolis flow sensors.

DOWNERS GROVE, Ill., July 23, 2024 /PRNewswire/ -- Rotary®, part of Vehicle Service Group™ (VSG) and Dover (NYSE: DOV), today announced the launch of its new LT35A Air-Hydraulic Lifting Table. The LT35A provides automotive service and repair shops with new levels of flexibility, functionality and safety by easily lifting EV batteries and other heavy components like engines and transmissions.

DOWNERS GROVE, Ill., July 22, 2024 /PRNewswire/ -- Dover (NYSE: DOV) today announced that it has acquired Marshall Excelsior Company ("MEC") for $395M in cash. MEC will become part of the OPW Global ("OPW") operating unit within Dover's Clean Energy & Fueling segment ("DCEF").

Founded over 48 years ago and headquartered in Marshall, Michigan, MEC supplies highly-engineered flow control components for transportation, storage, and use of liquified petroleum gas and other industrial gases. MEC's comprehensive portfolio of fittings, adapters, valves, regulators, pigtails, gauges, and related accessories drives differentiated performance to meet the exacting safety, quality, and reliability standards of its customers' mission-critical applications. The business generated approximately $120 million in revenue in 2023.

DOWNERS GROVE, Ill., July 22, 2024 /PRNewswire/ -- Dover (NYSE: DOV) today announced that it has entered into a definitive agreement to sell its Environmental Solutions Group business ("ESG"), which is part of Dover's Engineered Products segment, to Terex Corporation (NYSE: TEX) for $2 billion on a cash- and debt-free basis, subject to customary post-closing adjustments.

Based in Chattanooga, TN, ESG is a leading provider of refuse collection vehicles, compactors, and balers, as well as related aftermarket equipment and digital offerings, including onboard vehicle safety systems, route management, predictive maintenance, and customer relationship management software. ESG generated approximately $750 million of revenue in 2023.

DOWNERS GROVE, Ill., July 18, 2024 /PRNewswire/ -- Dover (NYSE: DOV) today announced that it has acquired Demaco Holland B.V. ("Demaco"). Demaco is now part of OPW's Clean Energy Solutions business ("OPW CES") within Dover's Clean Energy & Fueling segment.

Demaco provides critical flow control components for cryogenic applications involving hydrogen and other industrial gases used in a wide range of end markets exposed to attractive growth trends, including clean energy, scientific research, and diversified industrial applications. Demaco manufactures a wide range of engineered products, including vacuum jacketed piping, separators, sub-coolers, valves, couplings, loading arms, and level sensors, for a diverse range of blue-chip customers.

DOWNERS GROVE, Ill., July 17, 2024 /PRNewswire/ -- SWEP, part of Dover (NYSE: DOV) and a world-leading supplier of brazed plate heat exchangers (BPHEs), today announced the launch of the SWEP 190 range of brazed plate heat exchangers, which are optimized for low-global warming potential (GWP) and natural refrigerants.

With stringent new regulations on human-made fluorinated gases, SWEP customers around the world are increasingly challenged to rethink the design of their heating, ventilation, air conditioning and refrigeration (HVACR) systems. To help meet the requirements for systems using low-GWP and natural refrigerants, SWEP has designed a range of modern, compact and versatile brazed plate heat exchangers - SWEP D190, FI190 and PI190.

DOWNERS GROVE, Ill., July 16, 2024 /PRNewswire/ -- OPW Engineered Systems, part of Dover (NYSE: DOV), today announced the launch of its new 8800 Series Overfill and Ground Monitoring System. The 8800 Series is an advanced solution for terminal operators who are looking to make their filling processes safer and more intuitive. It offers features that can be integrated into existing terminal-automation systems.

DOWNERS GROVE, Ill., July 9, 2024 /PRNewswire/ -- Dover Corporation (NYSE: DOV) announced today that it will release second quarter 2024 earnings at approximately 6:00 a.m. Central time (7:00 a.m. Eastern time) on Thursday, July 25, 2024. Later that morning, Dover will host a conference call at 8:30 a.m. Central time (9:30 a.m. Eastern time) to discuss these results.

To participate in the conference call, please dial 1 (800) 343-4136 (domestic) or 1 (203) 518-9843 (international), conference ID DOVQ224. Due to the expected number of callers, please dial in at least 15 minutes before the conference is to begin and ask to be connected to the Dover teleconference.

DOWNERS GROVE, Ill., June 26, 2024 /PRNewswire/ -- Systech, part of Markem-Imaje and Dover and a leading provider of digital identification and traceability software solutions, today announced the launch of a turnkey manual aggregation and rework solution for the pharmaceutical industry. The solution is the first integrated offering following Systech's acquisition of Pharmacontrol Electronic GMBH (PCE) earlier this year.

DOWNERS GROVE, Ill., June 19, 2024 /PRNewswire/ -- RegO® Products, part of OPW Clean Energy Solutions and Dover (NYSE: DOV), today announced the launch of its new SSA3218F Series 3" Single Flange Interval Valve. This stainless-steel model is designed for use in liquefied petroleum gas (LPG) and anhydrous ammonia (NH3) loading and unloading activities for bobtails, transport trucks, nurse tanks, and liquid-storage plants and terminals.

DOWNERS GROVE, Ill., June 12, 2024 /PRNewswire/ -- Hillphoenix, part of Dover Food Retail and Dover (NYSE: DOV) and a pioneer in designing environmentally sustainable refrigeration systems, today announced the launch of ChargeSecure™, a charge preservation solution for CO2 refrigeration systems that offers peace of mind during power outages and service events.

Designed specifically for Hillphoenix CO2 systems, ChargeSecure minimizes downtime and offers peace of mind during power outages and service events by maintaining charge. When the power comes back on, the system can restart immediately – helping stores get back up and running faster.