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Dover Reports Fourth Quarter and Full Year 2024 Results
DOWNERS GROVE, Ill., Jan. 30, 2025 /PRNewswire/ -- Dover (NYSE: DOV), a diversified global manufacturer, announced its financial results for the fourth quarter and full year ended December 31, 2024. All comparisons are to the comparable period of the prior fiscal year, unless otherwise noted.
| | | Three Months Ended December 31, | | Years Ended December 31, | ||||||||
| ($ in millions, except per share data) | | 2024 | | 2023 | | % Change* | | 2024 | | 2023 | | % Change* |
| U.S. GAAP | ||||||||||||
| Revenue | | $ 1,930 | | $ 1,905 | | 1 % | | $ 7,746 | | $ 7,684 | | 1 % |
| Earnings from continuing operations | | 238 | | 258 | | (8) % | | 1,400 | | 944 | | 48 % |
| Diluted EPS from continuing operations | | 1.72 | | 1.84 | | (7) % | | 10.09 | | 6.71 | | 50 % |
| | | | | | | | | | | | | |
| Non-GAAP | ||||||||||||
| Organic revenue change | | | | | | 0.3 % | | | | | | — % |
| Adjusted earnings from continuing operations 1 | | 305 | | 306 | | — % | | 1,150 | | 1,118 | | 3 % |
| Adjusted diluted EPS from continuing operations | | 2.20 | | 2.18 | | 1 % | | 8.29 | | 7.95 | | 4 % |
| | |
| 1 Q4 and year-to-date 2024 and 2023 adjusted earnings from continuing operations exclude after-tax purchase accounting expenses and restructuring and other costs. Year-to-date 2024 also excludes an after-tax gain on disposition of a minority owned equity method investment, and the after-tax gain and post-closing adjustments on the disposition of De-Sta-Co. | |
| * Change may be impacted by rounding. |
For the quarter ended December 31, 2024, Dover generated revenue of $1.9 billion, an increase of 1%. GAAP earnings from continuing operations of $238 million decreased 8%, and GAAP diluted EPS from continuing operations of $1.72 was down 7%. On an adjusted basis, earnings from continuing operations of $305 million remained flat and adjusted diluted EPS from continuing operations of $2.20 was up 1%.
For the year ended December 31, 2024, Dover generated revenue of $7.7 billion, an increase of 1% compared to the prior year. GAAP earnings from continuing operations of $1.4 billion increased by 48%, and GAAP diluted EPS from continuing operations of $10.09 was up 50%. On an adjusted basis, earnings from continuing operations of $1.2 billion increased 3%, and adjusted diluted EPS from continuing operations of $8.29 was up 4% compared to the prior year.
A full reconciliation between GAAP and adjusted measures and definitions of non-GAAP and other performance measures are included as an exhibit herein.
MANAGEMENT COMMENTARY:
Dover's President and Chief Executive Officer, Richard J. Tobin, said, "Dover's fourth quarter results were very encouraging as we move into 2025, with broad-based top line strength across the portfolio and particularly robust performances within the Clean Energy & Fueling and Pumps & Process Solutions segments. Order trends continued their positive trajectory in the quarter with book-to-bill above one, driven by robust bookings in our secular-growth-exposed markets in single-use biopharma components, thermal connectors, and CO2 systems.
"Margin improvement was solid during the period due to the positive mix impact from our high margin, high growth platforms, and our rigorous cost containment and productivity actions. We expect these ongoing productivity and cost containment actions will continue to benefit consolidated margins in 2025.
"Our strong operational results were complemented by our ongoing portfolio actions. We have completed six acquisitions over the last three years to create a new platform in cryogenic components within our Clean Energy & Fueling segment, and we are very excited about the future value creation through margin expansion and durable, secular end market growth. We recently closed two bolt-on acquisitions within our high-priority Pumps & Process Solutions segment, and our acquisition pipeline remains robust. We ended the year with a significant cash position that provides flexibility as we pursue value-creating capital deployment to further expand our businesses in high growth, high margin priority platforms.
"We are optimistic about 2025. Underlying demand trends remain solid across the portfolio, as evidenced by our order momentum, and we have significant runway for continued margin improvement through positive mix benefits and numerous cost and performance levers. We have high confidence in Dover's attractive end market exposures, flexible business model, and proven execution playbook. With this backdrop, we are poised to deliver double-digit EPS growth in 2025 through a combination of accretive top line growth, margin improvement, and value-creating capital allocation."
FULL YEAR 2025 GUIDANCE:
In 2025, Dover expects to generate GAAP EPS from continuing operations in the range of $8.16 to $8.36 (adjusted EPS from continuing operations of $9.30 to $9.50), based on full year revenue growth of 2% to 4% (organic growth of 3% to 5%).
CONFERENCE CALL INFORMATION:
Dover will host a webcast and conference call to discuss its fourth quarter and full year 2024 results at 9:00 A.M. Eastern Time (8:00 A.M. Central Time) on Thursday, January 30, 2025. The webcast can be accessed on the Dover website at dovercorporation.com. The conference call will also be made available for replay on the website. Additional information on Dover's results and its operating segments can be found on the Company's website.
ABOUT DOVER:
Dover is a diversified global manufacturer and solutions provider with annual revenue of over $7 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 70 years, our team of approximately 24,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV."
FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements in this document other than statements of historical fact are statements that are, or could be deemed, "forward-looking" statements. Forward-looking statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond the Company's control. Factors that could cause actual results to differ materially from current expectations include, among other things, general economic conditions and conditions in the particular markets in which we operate; supply chain constraints and labor shortages that could result in production stoppages; inflation in material input costs and freight logistics; the impacts of natural or human-induced disasters, acts of war, terrorism, international conflicts, and public health crises on the global economy and on our customers, suppliers, employees, business and cash flows; changes in customer demand and capital spending; competitive factors and pricing pressures; our ability to develop and launch new products in a cost-effective manner; changes in law; our ability to identify, consummate and successfully integrate and realize synergies from newly acquired businesses; acquisition valuation levels; the impact of interest rate and currency exchange rate fluctuations; capital allocation plans and changes in those plans, including with respect to dividends, share repurchases, investments in research and development, capital expenditures and acquisitions; our ability to effectively deploy capital resulting from dispositions; our ability to derive expected benefits from restructurings, productivity initiatives and other cost reduction actions; the impact of legal compliance risks and litigation, including with respect to product quality and safety, cybersecurity and privacy; and our ability to capture and protect intellectual property rights. For details on the risks and uncertainties that could cause our results to differ materially from the forward-looking statements contained herein, we refer you to the documents we file with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2023, and our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These documents are available from the Securities and Exchange Commission, and on our website, dovercorporation.com. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
| INVESTOR SUPPLEMENT - FOURTH QUARTER AND FULL YEAR 2024 | |||||||
| | |||||||
| DOVER CORPORATION | |||||||
| CONSOLIDATED STATEMENTS OF EARNINGS | |||||||
| (unaudited)(in thousands, except per share data*) | |||||||
| | |||||||
| | Three Months Ended December 31, | | Years Ended December 31, | ||||
| | 2024 | | 2023 | | 2024 | | 2023 |
| Revenue | $ 1,929,866 | | $ 1,904,812 | | $ 7,745,909 | | $ 7,684,476 |
| Cost of goods and services | 1,184,142 | | 1,185,909 | | 4,787,288 | | 4,816,932 |
| Gross profit | 745,724 | | 718,903 | | 2,958,621 | | 2,867,544 |
| Selling, general and administrative expenses | 450,660 | | 413,981 | | 1,752,266 | | 1,648,204 |
| Operating earnings | 295,064 | | 304,922 | | 1,206,355 | | 1,219,340 |
| Interest expense | 28,304 | | 30,897 | | 131,171 | | 131,304 |
| Interest income | (23,145) | | (4,944) | | (37,158) | | (13,496) |
| (Gain) loss on dispositions | 115 | | — | | (597,798) | | — |
| Other income, net | (13,860) | | (710) | | (46,876) | | (21,468) |
| Earnings before provision for income taxes | 303,650 | | 279,679 | | 1,757,016 | | 1,123,000 |
| Provision for income taxes | 65,267 | | 21,500 | | 357,048 | | 179,136 |
| Earnings from continuing operations | 238,383 | | 258,179 | | 1,399,968 | | 943,864 |
| Earnings from discontinued operations, net | 1,197,600 | | 38,083 | | 1,297,158 | | 112,964 |
| Net earnings | $ 1,435,983 | | $ 296,262 | | $ 2,697,126 | | $ 1,056,828 |
| | | | | | | | |
| Basic earnings per share: | | | | | | | |
| Earnings from continuing operations | $ 1.74 | | $ 1.85 | | $ 10.16 | | $ 6.75 |
| Earnings from discontinued operations, net | $ 8.73 | | $ 0.27 | | $ 9.42 | | $ 0.81 |
| Net earnings | $ 10.47 | | $ 2.12 | | $ 19.58 | | $ 7.56 |
| Weighted average shares outstanding | 137,205 | | 139,893 | | 137,735 | | 139,848 |
| | | | | | | | |
| Diluted earnings per share: | | | | | | | |
| Earnings from continuing operations | $ 1.72 | | $ 1.84 | | $ 10.09 | | $ 6.71 |
| Earnings from discontinued operations, net | $ 8.66 | | $ 0.27 | | $ 9.35 | | $ 0.80 |
| Net earnings | $ 10.38 | | $ 2.11 | | $ 19.45 | | $ 7.52 |
| Weighted average shares outstanding | 138,298 | | 140,586 | | 138,696 | | 140,599 |
| | | | | | | | |
| Dividends paid per common share | $ 0.515 | | $ 0.51 | | $ 2.05 | | $ 2.03 |
| | | | | | | | |
| * Per share data may be impacted by rounding. | | | | | | | |
| DOVER CORPORATION | |||||||||||
| QUARTERLY EARNINGS PER SHARE | |||||||||||
| (unaudited)(in thousands, except per share data*) | |||||||||||
| | |||||||||||
| Earnings Per Share | | | | | | | | | | | |
| | 2024 | | 2023 | ||||||||
| | Q1 | Q2 | Q3 | Q4 | FY 2024 | | Q1 | Q2 | Q3 | Q4 | FY 2023 |
| Basic earnings per share: | |||||||||||
| Continuing operations | $ 4.33 | $ 1.79 | $ 2.28 | $ 1.74 | $ 10.16 | | $ 1.48 | $ 1.55 | $ 1.87 | $ 1.85 | $ 6.75 |
| Discontinued operations | $ 0.22 | $ 0.26 | $ 0.25 | $ 8.73 | $ 9.42 | | $ 0.16 | $ 0.18 | $ 0.20 | $ 0.27 | $ 0.81 |
| Net earnings | $ 4.55 | $ 2.05 | $ 2.53 | $ 10.47 | $ 19.58 | | $ 1.64 | $ 1.73 | $ 2.07 | $ 2.12 | $ 7.56 |
| | | | | | | | | | | | |
| Diluted earnings per share: | | | | | | | | | | ||
| Continuing operations | $ 4.30 | $ 1.78 | $ 2.26 | $ 1.72 | $ 10.09 | | $ 1.47 | $ 1.54 | $ 1.86 | $ 1.84 | $ 6.71 |
| Discontinued operations | $ 0.22 | $ 0.25 | $ 0.25 | $ 8.66 | $ 9.35 | | $ 0.16 | $ 0.18 | $ 0.20 | $ 0.27 | $ 0.80 |
| Net earnings | $ 4.52 | $ 2.04 | $ 2.51 | $ 10.38 | $ 19.45 | | $ 1.63 | $ 1.72 | $ 2.06 | $ 2.11 | $ 7.52 |
| | | | | | | | | | | | |
| Net earnings and weighted average shares used in calculated earnings per share amounts are as follows: | |||||||||||
| Continuing operations | $ 602,102 | $ 246,587 | $ 312,896 | $ 238,383 | $ 1,399,968 | | $ 206,692 | $ 217,010 | $ 261,983 | $ 258,179 | $ 943,864 |
| Discontinued operations | 30,119 | 35,235 | 34,204 | 1,197,600 | 1,297,158 | | 21,882 | 25,229 | 27,770 | 38,083 | 112,964 |
| Net earnings | $ 632,221 | $ 281,822 | $ 347,100 | $ 1,435,983 | $ 2,697,126 | | $ 228,574 | $ 242,239 | $ 289,753 | $ 296,262 | $ 1,056,828 |
| | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | ||
| Basic | 139,051 | 137,443 | 137,251 | 137,205 | 137,735 | | 139,757 | 139,862 | 139,878 | 139,893 | 139,848 |
| Diluted | 139,869 | 138,404 | 138,223 | 138,298 | 138,696 | | 140,616 | 140,578 | 140,615 | 140,586 | 140,599 |
| | | | | | | | | | | | |
| * Per share data may be impacted by rounding. | | | |||||||||
| DOVER CORPORATION | |||||||||||
| QUARTERLY SEGMENT INFORMATION | |||||||||||
| (unaudited)(in thousands) | |||||||||||
| | |||||||||||
| | 2024 | | 2023 | ||||||||
| | Q1 | Q2 | Q3 | Q4 | FY 2024 | | Q1 | Q2 | Q3 | Q4 | FY 2023 |
| REVENUE | | | | | | | | | | | |
| Engineered Products | $ 332,820 | $ 285,297 | $ 296,117 | $ 288,223 | $ 1,202,457 | | $ 325,955 | $ 287,408 | $ 309,431 | $ 328,131 | $ 1,250,925 |
| Clean Energy & Fueling | 445,053 | 463,014 | 500,685 | 528,032 | 1,936,784 | | 430,729 | 441,166 | 466,959 | 449,423 | 1,788,277 |
| Imaging & Identification | 276,806 | 287,593 | 283,966 | 288,800 | 1,137,165 | | 283,091 | 271,932 | 276,179 | 285,530 | 1,116,732 |
| Pumps & Process Solutions | 465,729 | 477,239 | 472,463 | 479,135 | 1,894,566 | | 413,881 | 465,626 | 431,373 | 444,811 | 1,755,691 |
| Climate & Sustainability Technologies | 364,292 | 436,706 | 431,127 | 347,524 | 1,579,649 | | 455,325 | 449,001 | 475,911 | 398,345 | 1,778,582 |
| Intersegment eliminations | (981) | (1,067) | (816) | (1,848) | (4,712) | | (1,552) | (1,326) | (1,425) | (1,428) | (5,731) |
| Total consolidated revenue | $ 1,883,719 | $ 1,948,782 | $ 1,983,542 | $ 1,929,866 | $ 7,745,909 | | $ 1,907,429 | $ 1,913,807 | $ 1,958,428 | $ 1,904,812 | $ 7,684,476 |
| | | | | | | | | | | | |
| EARNINGS FROM CONTINUING OPERATIONS | | | | | | | | | |||
| Segment Earnings: | | | | | | | | | | | |
| Engineered Products | $ 62,532 | $ 52,095 | $ 56,621 | $ 59,989 | $ 231,237 | | $ 54,064 | $ 38,872 | $ 63,525 | $ 67,590 | $ 224,051 |
| Clean Energy & Fueling | 69,675 | 87,536 | 99,536 | 103,246 | 359,993 | | 73,605 | 83,616 | 92,483 | 78,900 | 328,604 |
| Imaging & Identification | 69,959 | 75,786 | 77,247 | 78,715 | 301,707 | | 68,315 | 61,336 | 70,316 | 72,545 | 272,512 |
| Pumps & Process Solutions | 118,737 | 137,217 | 138,277 | 142,375 | 536,606 | | 115,244 | 129,337 | 117,907 | 121,917 | 484,405 |
| Climate & Sustainability Technologies | 50,759 | 79,127 | 76,015 | 44,974 | 250,875 | | 73,778 | 76,074 | 84,060 | 71,468 | 305,380 |
| Total segment earnings | 371,662 | 431,761 | 447,696 | 429,299 | 1,680,418 | | 385,006 | 389,235 | 428,291 | 412,420 | 1,614,952 |
| Purchase accounting expenses 1 | 44,187 | 44,332 | 48,356 | 49,366 | 186,241 | | 40,603 | 38,644 | 38,956 | 40,379 | 158,582 |
| Restructuring and other costs 2 | 23,971 | 11,590 | 16,581 | 32,841 | 84,983 | | 14,053 | 18,143 | 11,581 | 19,150 | 62,927 |
| Disposition costs 3 | — | — | — | — | — | | — | — | — | 1,302 | 1,302 |
| (Gain) loss on dispositions 4 | (529,943) | 663 | (68,633) | 115 | (597,798) | | — | — | — | — | — |
| Corporate expense / other 5 | 42,159 | 39,526 | 36,110 | 38,168 | 155,963 | | 40,301 | 34,138 | 30,937 | 45,957 | 151,333 |
| Interest expense | 36,365 | 32,374 | 34,128 | 28,304 | 131,171 | | 34,214 | 33,803 | 32,390 | 30,897 | 131,304 |
| Interest income | (4,756) | (4,081) | (5,176) | (23,145) | (37,158) | | (2,091) | (2,653) | (3,808) | (4,944) | (13,496) |
| Earnings before provision for income taxes | 759,679 | 307,357 | 386,330 | 303,650 | 1,757,016 | | 257,926 | 267,160 | 318,235 | 279,679 | 1,123,000 |
| Provision for income taxes 6 | 157,577 | 60,770 | 73,434 | 65,267 | 357,048 | | 51,234 | 50,150 | 56,252 | 21,500 | 179,136 |
| Earnings from continuing operations | $ 602,102 | $ 246,587 | $ 312,896 | $ 238,383 | $ 1,399,968 | | $ 206,692 | $ 217,010 | $ 261,983 | $ 258,179 | $ 943,864 |
| | | | | | | | | | | | |
| SEGMENT EARNINGS MARGIN | | | | | | | | | | ||
| Engineered Products | 18.8 % | 18.3 % | 19.1 % | 20.8 % | 19.2 % | | 16.6 % | 13.5 % | 20.5 % | 20.6 % | 17.9 % |
| Clean Energy & Fueling | 15.7 % | 18.9 % | 19.9 % | 19.6 % | 18.6 % | | 17.1 % | 19.0 % | 19.8 % | 17.6 % | 18.4 % |
| Imaging & Identification | 25.3 % | 26.4 % | 27.2 % | 27.3 % | 26.5 % | | 24.1 % | 22.6 % | 25.5 % | 25.4 % | 24.4 % |
| Pumps & Process Solutions | 25.5 % | 28.8 % | 29.3 % | 29.7 % | 28.3 % | | 27.8 % | 27.8 % | 27.3 % | 27.4 % | 27.6 % |
| Climate & Sustainability Technologies | 13.9 % | 18.1 % | 17.6 % | 12.9 % | 15.9 % | | 16.2 % | 16.9 % | 17.7 % | 17.9 % | 17.2 % |
| Total segment earnings margin | 19.7 % | 22.2 % | 22.6 % | 22.2 % | 21.7 % | | 20.2 % | 20.3 % | 21.9 % | 21.7 % | 21.0 % |
| | | | | | | | | | | | |
| 1 Purchase accounting expenses are primarily comprised of amortization of intangible assets. | |||||||||||
| 2 Restructuring and other costs relate to actions taken for headcount reductions, facility consolidations and site closures, product line exits, and other asset charges. | |||||||||||
| 3 Q4 and FY 2023 disposition costs relate to the sale of De-Sta-Co in our Engineered Products segment. | |||||||||||
| 4 (Gain) loss on dispositions includes post-closing adjustments related to the disposition of De-Sta-Co in Q1 2024 and the disposition of a minority owned equity method investment in Q3 2024 in the Engineered Products and Climate & Sustainability Technologies segments, respectively. | |||||||||||
| 5 Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, shared business services and digital and IT overhead costs, deal-related expenses and various administrative expenses relating to the corporate headquarters. | |||||||||||
| 6 Q4 and FY 2023 include the net income tax benefit of internal reorganizations executed in 2023. |
| DOVER CORPORATION | |||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||
| (unaudited)(in thousands) | |||
| | |||
| | December 31, 2024 | | December 31, 2023 |
| ASSETS | | | |
| Current assets: | | | |
| Cash and cash equivalents | $ 1,844,877 | | $ 398,561 |
| Receivables, net | 1,354,225 | | 1,321,107 |
| Inventories, net | 1,144,838 | | 1,144,089 |
| Prepaid and other current assets | 140,557 | | 139,348 |
| Assets of discontinued operations - current | — | | 194,486 |
| Assets held for sale - current | — | | 192,644 |
| Total current assets | 4,484,497 | | 3,390,235 |
| Property, plant and equipment, net | 987,924 | | 978,472 |
| Goodwill | 4,905,702 | | 4,637,564 |
| Intangible assets, net | 1,580,854 | | 1,445,204 |
| Other assets and deferred charges | 550,183 | | 555,084 |
| Assets of discontinued operations - non-current | — | | 341,954 |
| Total assets | $ 12,509,160 | | $ 11,348,513 |
| | | | |
| LIABILITIES AND STOCKHOLDERS' EQUITY | | | |
| Current liabilities: | | | |
| Short-term borrowings and current portion of long-term debt | $ 400,056 | | $ 468,282 |
| Payables, accrued expenses and other current liabilities | 1,796,471 | | 1,727,907 |
| Liabilities of discontinued operations - current | — | | 153,013 |
| Liabilities held for sale - current | — | | 64,568 |
| Total current liabilities | 2,196,527 | | 2,413,770 |
| Deferred taxes and other non-current liabilities | 829,291 | | 801,321 |
| Long-term debt | 2,529,346 | | 2,991,759 |
| Liabilities of discontinued operations - non-current | — | | 35,058 |
| Stockholder's equity: | | | |
| Stockholders' equity | 6,953,996 | | 5,106,605 |
| Total liabilities and stockholders' equity | $ 12,509,160 | | $ 11,348,513 |
| DOVER CORPORATION | |||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
| (unaudited)(in thousands) | |||
| | |||
| | Years Ended December 31, | ||
| | 2024 | | 2023 |
| Operating Activities: | | | |
| Net earnings | $ 2,697,126 | | $ 1,056,828 |
| Adjustments to reconcile net earnings to cash provided by operating activities: | | | |
| Earnings from discontinued operations, net | (1,297,158) | | (112,964) |
| Depreciation and amortization | 337,842 | | 305,046 |
| Stock-based compensation expense | 40,359 | | 30,766 |
| Employee benefit plan (benefit) expense | (9,946) | | 5,679 |
| Gain on dispositions | (597,798) | | — |
| Net change in assets and liabilities | (82,592) | | (65,809) |
| Net cash provided by operating activities | 1,087,833 | | 1,219,546 |
| | | | |
| Investing Activities: | | | |
| Additions to property, plant and equipment | (167,533) | | (183,406) |
| Acquisitions, net of cash and cash equivalents acquired | (635,269) | | (533,623) |
| Proceeds from dispositions, net of cash transferred | 768,847 | | — |
| Other, net | 6,972 | | (686) |
| Net cash used in investing activities | (26,983) | | (717,715) |
| | | | |
| Financing Activities: | | | |
| Change in commercial paper and other short-term borrowings, net | (467,637) | | (267,490) |
| Dividends paid to stockholders | (283,117) | | (284,297) |
| Repurchase of common stock, including payment under accelerated share repurchase program | (500,000) | | — |
| Payments to settle employee tax obligations on exercise of share-based awards | (16,603) | | (12,137) |
| Other, net | (4,316) | | (4,132) |
| Net cash used in financing activities | (1,271,673) | | (568,056) |
| | | | |
| Cash Flows from Discontinued Operations: | | | |
| Net cash (used in) provided by operating activities of discontinued operations | (339,454) | | 116,799 |
| Net cash provided by (used in) investing activities of discontinued operations | 1,985,641 | | (8,915) |
| Net cash provided by discontinued operations | 1,646,187 | | 107,884 |
| | | | |
| Effect of exchange rate changes on cash and cash equivalents | (6,348) | | (6,666) |
| | | | |
| Net increase in cash and cash equivalents, including cash held for sale | 1,429,016 | | 34,993 |
| Cash and cash equivalents at beginning of year, including cash held for sale | 415,861 | | 380,868 |
| Cash and cash equivalents at the end of year, including cash held for sale | $ 1,844,877 | | $ 415,861 |
| | |||
| | Years Ended December 31, | ||
| | 2024 | | 2023 |
| Cash and cash equivalents | $ 1,844,877 | | $ 398,561 |
| Cash and cash equivalents held for sale | — | | 17,300 |
| Cash and cash equivalents, including cash held for sale | $ 1,844,877 | | $ 415,861 |
| DOVER CORPORATION | |||||||||||
| QUARTERLY ADJUSTED EARNINGS AND ADJUSTED EARNINGS PER SHARE (NON-GAAP) | |||||||||||
| (unaudited)(in thousands, except per share data*) | |||||||||||
| | |||||||||||
| Non-GAAP Reconciliations | |||||||||||
| | 2024 | | 2023 | ||||||||
| | Q1 | Q2 | Q3 | Q4 | FY 2024 | | Q1 | Q2 | Q3 | Q4 | FY 2023 |
| Adjusted earnings from continuing operations: | | | | | | | | | | ||
| Earnings from continuing operations | $ 602,102 | $ 246,587 | $ 312,896 | $ 238,383 | $ 1,399,968 | | $ 206,692 | $ 217,010 | $ 261,983 | $ 258,179 | $ 943,864 |
| Purchase accounting expenses, pre-tax 1 | 44,187 | 44,332 | 48,356 | 49,366 | 186,241 | | 40,603 | 38,644 | 38,956 | 40,379 | 158,582 |
| Purchase accounting expenses, tax impact 2 | (9,711) | (9,760) | (10,633) | (10,911) | (41,015) | | (9,140) | (8,671) | (8,670) | (8,847) | (35,328) |
| Restructuring and other costs, pre-tax 3 | 23,971 | 11,590 | 16,581 | 32,841 | 84,983 | | 14,053 | 18,143 | 11,581 | 19,150 | 62,927 |
| Restructuring and other costs, tax impact 2 | (4,734) | (2,479) | (3,465) | (6,864) | (17,542) | | (2,990) | (3,665) | (2,401) | (3,970) | (13,026) |
| Disposition costs, pre-tax 4 | — | — | — | — | — | | — | — | — | 1,302 | 1,302 |
| Disposition costs, tax impact 2 | — | — | — | — | — | | — | — | — | (270) | (270) |
| (Gain) loss on dispositions, pre-tax 5 | (529,943) | 663 | (68,633) | 115 | (597,798) | | — | — | — | — | — |
| (Gain) loss on dispositions, tax-impact 2 | 114,973 | (144) | 18,889 | 1,695 | 135,413 | | — | — | — | — | — |
| Adjusted earnings from continuing operations | $ 240,845 | $ 290,789 | $ 313,991 | $ 304,625 | $ 1,150,250 | | $ 249,218 | $ 261,461 | $ 301,449 | $ 305,923 | $ 1,118,051 |
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| Adjusted diluted earnings per share from continuing operations: | | | | | | | |||||
| Diluted earnings per share from continuing operations | $ 4.30 Für dich aus unserer Redaktion zusammengestelltHinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Weitere Artikel des AutorsThemen im Trend | ||||||||||
