DOVER Corp
For the period ended Jun 30, 2025. Filed Jul 24, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Jul 24, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2025
or
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the transition period from to
Commission File Number:1-4018
(Exact name of registrant as specified in its charter)
| Delaware | 53-0257888 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| 3005 Highland Parkway | |
| Downers Grove, Illinois | 60515 |
| (Address of principal executive offices) | (Zip Code) |
(630) 541-1540
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock | DOV | New York Stock Exchange |
| 1.250% Notes due 2026 | DOV 26 | New York Stock Exchange |
| 0.750% Notes due 2027 | DOV 27 | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ☑ Noo
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes ☑ Noo
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12-b-2 of the Exchange Act .
| Large Accelerated Filer | ☑ | Accelerated Filer | ☐ | Emerging Growth Company | ☐ |
|---|---|---|---|---|---|
| Non-Accelerated Filer | ☐ | Smaller Reporting Company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☑
The number of shares outstanding of the Registrant’s common stock as of July 18, 2025 was 137,134,453.
Dover Corporation
Form 10-Q
| PART I — FINANCIAL INFORMATION | Page | |
|---|---|---|
| Item 1. · Financial Statements (unaudited) | ||
| Condensed Consolidated Statements of Earnings for the three and six months ended June 30, 2025 and 2024 | 1 | |
| Condensed Consolidated Statements of Comprehensive Earnings for the three and six months ended June 30, 2025 and 2024 | 2 | |
| Condensed Consolidated Balance Sheets at June 30, 2025 and December 31, 2024 | 3 | |
| Condensed Consolidated Statements of Stockholders’ Equity for the three and six months ended June 30, 2025 and 2024 | 4 | |
| Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2025 and 2024 | 6 | |
| Note 1 — Basis of Presentation | 7 | |
| Note 2 — Revenue | 7 | |
| Note 3 — Acquisitions | 8 | |
| Note 4 — Discontinued and Disposed Operations | 11 | |
| Note 5 — Inventories, net | 12 | |
| Note 6 — Property, Plant and Equipment, net | 12 | |
| Note 7 — Credit Losses | 12 | |
| Note 8 — Goodwill and Other Intangible Assets | 12 | |
| Note 9 — Restructuring Activities | 13 | |
| Note 10 — Borrowings | 14 | |
| Note 11 — Financial Instruments | 15 | |
| Note 12 — Income Taxes | 17 | |
| Note 13 — Equity Incentive Program | 17 | |
| Note 14 — Commitments and Contingent Liabilities | 18 | |
| Note 15 — Other Comprehensive Earnings | 19 | |
| Note 16 — Segment Information | 20 | |
| Note 17 — Stockholders' Equity | 23 | |
| Note 18 — Earnings per Share | 24 | |
| Note 19 — Recent Accounting Pronouncements | 24 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 26 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 43 |
| Item 4. | Controls and Procedures | 44 |
| PART II — OTHER INFORMATION | ||
| Item 1. | Legal Proceedings | 44 |
| Item 1A. | Risk Factors | 44 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 44 |
| Item 3. | Defaults Upon Senior Securities | 44 |
| Item 4. | Mine Safety Disclosures | 44 |
| Item 5. | Other Information | 44 |
| Item 6. | Exhibits | 45 |
| SIGNATURES | 46 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.