DOVER Corp

Previous wording

In the first quarter of 2026, revenue was $2.1 billion, which increased $187.6 million, or 10.1%, as compared to the first quarter of 2025. This increase was driven by organic revenue growth of 5.3%, a favorable impact from foreign currency translation of 2.9% and acquisition-related revenue growth of 1.9%. Revenue growth was primarily driven by continued demand strength in our secular-growth-exposed end markets and pricing actions. The acquisition-related growth was primarily driven by our acquisitions in the Pumps & Process Solutions segment.

Current wording

In the second quarter of 2026, revenue was $2.2 billion, which increased $140.4 million, or 6.9%, as compared to the second quarter of 2025. This increase was driven by organic revenue growth of 4.8%, acquisition-related revenue growth of 1.2%, and a favorable impact from foreign currency translation of 0.9%. Revenue growth was primarily led by robust demand in our secular-growth-exposed end markets as well as broad-based, constructive trading conditions across most of our businesses. The acquisition-related growth was primarily driven by our acquisitions in the Pumps & Process Solutions segment.

Previous wording

The 5.3% organic revenue growth for the first quarter of 2026 was driven by our Climate & Sustainability Technologies, Clean Energy & Fueling, and Engineered Products segments which grew 15.2%, 11.1%, and 2.1%, respectively. The growth was partially offset by the Imaging & Identification and Pumps & Process Solutions segments which declined 3.3% and 0.8%, respectively. For further information, see "Segment Results of Operations" within this Item 2.

Current wording

The 4.8% organic revenue growth for the second quarter of 2026 was driven by increases across all of our segments. For further information, see "Segment Results of Operations" within this Item 2.

Previous wording

From a geographic perspective, organic revenue for the U.S., our largest market, increased 12.1% in the first quarter of 2026 compared to the prior year comparable quarter, primarily driven by an increase in organic revenue in the Clean Energy & Fueling, Climate & Sustainability Technologies and Pumps & Process Solutions segments. Organic revenue increased for the Other Americas by 3.0% and decreased for Asia, Europe, and all other geographic markets by 4.7%, 4.2%, and 3.3%, respectively.

Current wording

From a geographic perspective, organic revenue for the U.S., our largest market, increased 7.9% in the second quarter of 2026 compared to the prior year comparable quarter, primarily driven by an increase in organic revenue in the Clean Energy & Fueling, Climate & Sustainability Technologies, and Pumps & Process Solutions segments. Organic revenue increased for the Other Americas and Asia by 8.8% and 8.5%, respectively, and decreased for Europe and all other geographic markets by 5.0%, and 0.9%, respectively.

Previous wording

Bookings were $2.5 billion for the three months ended March 31, 2026, an increase of $474.1 million or 23.8% compared to the prior year comparable quarter. Bookings increased across all segments and most notably in the Climate & Sustainability Technologies segment.

Current wording

Bookings were $2.3 billion for the three months ended June 30, 2026, an increase of $322.8 million or 16.1% compared to the prior year comparable quarter. Bookings increased across all segments and most notably in the Climate & Sustainability Technologies segment.

Previous wording

Restructuring and other costs for the three months ended March 31, 2026 were $36.8 million, which included restructuring charges of $30.2 million and other costs of $6.6 million. Restructuring and other costs were primarily related to headcount reductions and exit costs in the Pumps & Process Solutions, Climate & Sustainability Technologies and Clean Energy & Fueling segments. For further discussion related to our restructuring and other costs, see "Restructuring and Other Costs (Benefits)," within this Item 2.

Current wording

Restructuring and other costs for the three months ended June 30, 2026 were $24.6 million, which included restructuring charges of $17.0 million and other costs of $7.6 million. Restructuring and other costs were primarily related to headcount reductions and exit costs in the Climate & Sustainability Technologies and Engineered Products segments. For further discussion related to our restructuring and other costs, see "Restructuring and Other Costs (Benefits)," within this Item 2.

Previous wording

Revenue for the three months ended March 31, 2026 increased $187.6 million, or 10.1%, from the prior year comparable quarter. The increase in revenue was driven by organic revenue growth of 5.3%, primarily in our Climate & Sustainability Technologies, Clean Energy & Fueling and Engineered Products segments, a favorable impact from foreign currency translation of 2.9% and acquisition-related growth of 1.9%. Customer pricing favorably impacted revenue by approximately 1.8% in the first quarter of 2026 and by 1.3% in the prior year comparable quarter.

Current wording

Revenue for the six months ended June 30, 2026 increased $328.0 million, or 8.4%, from the prior year comparable period. The increase in revenue was driven by organic revenue growth of 5.0%, primarily in our Clean Energy & Fueling and Climate & Sustainability Technologies segments, a favorable impact from foreign currency translation of 1.9%, and acquisition-related growth of 1.5%, primarily in our Pumps & Process Solutions segment. Customer pricing favorably impacted revenue by approximately 2.0% for the six months ended June 30, 2026 and by 1.6% in the prior year comparable period.

Previous wording

Gross profit for the three months ended March 31, 2026 increased $52.6 million, or 7.1%, and gross profit margin decreased 110 basis points to 38.9%, versus the prior year comparable quarter. The gross profit margin decrease was primarily due to an unfavorable portfolio mix, partially offset by by productivity initiatives and benefits from restructuring actions.

Current wording

Gross profit for the six months ended June 30, 2026 increased $115.0 million, or 7.4%, and gross profit margin decreased by 30 basis points to 39.6%, from the prior year comparable period. The gross profit margin decrease was due to an unfavorable portfolio mix, partially offset by productivity initiatives and benefits from restructuring actions.

Previous wording

Selling, general and administrative expenses for the three months ended March 31, 2026 increased $43.0 million, or 9.6%, from the prior year comparable quarter, primarily due to increases in employee compensation and benefits and acquisition-related amortization expense. As a percentage of revenue, selling, general and administrative expenses decreased 10 basis points as compared to the prior year comparable quarter to 24.0%.

Current wording

Selling, general and administrative expenses for the three months ended June 30, 2026 increased $25.2 million, or 5.4%, from the prior year comparable quarter, primarily due to increases in employee compensation and benefits. As a percentage of revenue, selling, general and administrative expenses decreased 30 basis points as compared to the prior year comparable quarter to 22.3%.

Previous wording

Research and development costs, including qualifying engineering costs, are expensed when incurred and amounted to $39.6 million and $37.5 million for the three months ended March 31, 2026 and 2025, respectively. The costs as a percentage of revenue were 1.9% and 2.0% for the three months ended March 31, 2026 and 2025, respectively.

Current wording

Research and development costs, including qualifying engineering costs, are expensed when incurred and amounted to $40.4 million and $40.8 million for the three months ended June 30, 2026 and 2025, respectively, and $80.0 million and $78.3 million for the six months ended June 30, 2026 and 2025, respectively. The costs as a percentage of revenue were 1.8% and 1.9% for the three and six months ended June 30, 2026, respectively, and 2.0% for both the three and six months ended June 30, 2025.

Previous wording

For the three months ended March 31, 2026, interest expense, net of interest income, increased $8.1 million, or 110.3%, to $15.5 million compared to the prior year comparable quarter. The increase was primarily due to lower interest income from highly liquid short-term investments and higher interest expense incurred from the issuance of the €550.0 million 3.50% euro-denominated notes in the fourth quarter of 2025.

Current wording

For the three and six months ended June 30, 2026, interest expense, net of interest income, increased $5.7 million, or 64.1%, to $14.5 million and $13.8 million, or 85.1%, to $30.0 million, respectively, compared to the prior year comparable period. The increases were primarily due to lower interest income from redemption of highly liquid short-term investments and higher interest expense incurred from the issuance of the €550.0 million 3.50% euro-denominated notes in the fourth quarter of 2025.

Previous wording

The effective tax rates for the three months ended March 31, 2026 and 2025 were 20.1% and 19.0%, respectively. The increase in the effective tax rate for the three months ended March 31, 2026 relative to the prior year comparable quarter was primarily due to a prior year reorganization.

Current wording

The effective tax rates for the three months ended June 30, 2026 and 2025 were 19.4% and 20.4%, respectively. The decrease in the effective tax rate for the three months ended June 30, 2026 relative to the prior year comparable quarter was primarily driven by an internal reorganization in 2026.

Previous wording

Earnings from continuing operations for the three months ended March 31, 2026 remained flat at $238.7 million, or $1.76 diluted earnings per share from continuing operations, compared to $239.2 million, or $1.73 diluted earnings per share from continuing operations in the prior year comparable quarter. The increases in employee compensation and benefits expense, acquisition-related amortization expense, and interest expense, net were offset by the increase in gross profit primarily driven by strong revenue growth.

Current wording

Earnings from continuing operations for the six months ended June 30, 2026 increased 6.1% to $551.3 million, or $4.06 diluted earnings per share from continuing operations, from $519.4 million, or $3.76 diluted earnings per share from continuing operations, in the prior year comparable period. The increase in earnings from continuing operations is driven by strong revenue growth in the current period partially offset by unfavorable portfolio mix, and increases in employee compensation and benefits expense and interest expense, net.

Previous wording

The organic revenue growth was primarily driven by pricing actions and solid demand trends across end markets. The growth outlook is favorable for the remainder of the year as we expect improvement in vehicle service business demand and constructive demand conditions across key end markets, most notably in aerospace and defense.

Current wording

The organic revenue growth was primarily driven by pricing actions and solid demand trends in aerospace and defense components, fluid dispensing, and industrial winches, partially offset by lower vehicle service demand in Europe. The growth outlook is favorable for the second half of the year as we expect stable volumes in vehicle services and constructive demand conditions across key end markets, most notably in aerospace and defense.

Previous wording

Engineered Products segment earnings increased $0.9 million, or 2.0%, compared to the first quarter of 2025. The increase was primarily driven by pricing actions, productivity initiatives and carry-over benefits from restructuring actions taken in 2025, partially offset by inflationary impacts and unfavorable mix. Segment earnings margin decreased to 16.9% from 17.3% as compared to the prior year comparable quarter.

Current wording

Engineered Products segment earnings increased $4.3 million, or 8.0%, compared to the second quarter of 2025. The increase was primarily driven by pricing actions, volume leverage, productivity initiatives and carry-over benefits from restructuring actions taken in 2025, partially offset by inflationary impacts, and lower vehicle service volume. Segment earnings margin increased to 20.4% from 19.4% as compared to the prior year comparable quarter.

Previous wording

Overall bookings increased 11.1% as compared to the prior year comparable quarter. The bookings increase was driven by strength in our aerospace and defense business and winch and hoist demand. Segment book-to-bill was 1.10.

Current wording

Overall bookings increased 0.2% as compared to the prior year comparable quarter. The bookings increase was driven by strength in our aerospace and defense business and precision soldering and fluid dispensing demand. Segment book-to-bill was 0.98.

Previous wording

Engineered Products revenue for the first quarter of 2026 increased $12.0 million, or 4.7%, as compared to the first quarter of 2025, driven by a favorable impact from foreign currency translation of 2.6% and organic growth of 2.1%. Customer pricing favorably impacted revenue by approximately 2.1% in the first quarter of 2026 and 1.3% in the prior year comparable quarter.

Current wording

Engineered Products revenue for the six months ended June 30, 2026 increased $19.5 million, or 3.7%, compared to the prior year comparable period. This was comprised of organic revenue growth of 2.1% and a favorable impact from foreign currency translation of 1.6%. The organic revenue growth was primarily driven by pricing actions and solid demand trends in aerospace and defense components, fluid dispensing, and industrial winches, partially offset by lower vehicle service demand in Europe. Customer pricing favorably impacted revenue by approximately 2.6% and by 2.1% in the prior year comparable period.

Previous wording

Clean Energy & Fueling revenue for the first quarter of 2026 increased $63.7 million, or 13.0%, as compared to the first quarter of 2025, driven by organic growth of 11.1%, a favorable foreign currency translation impact of 1.8% and acquisition-related growth of 0.1%. Acquisition-related growth was primarily driven by the acquisition of Site IQ, LLC in the third quarter of 2025. Customer pricing favorably impacted revenue in the first quarter of 2026 by approximately 2.1% and by 1.4% in the prior year comparable quarter.

Current wording

Clean Energy & Fueling revenue for the second quarter of 2026 increased $48.9 million, or 8.9%, as compared to the second quarter of 2025, driven by organic growth of 8.6%, a favorable foreign currency translation impact of 0.2% and acquisition-related growth of 0.1%. Acquisition-related growth was driven by the acquisition of Site IQ, LLC in the third quarter of 2025. Customer pricing favorably impacted revenue in the second quarter of 2026 by approximately 2.9% and by 1.7% in the prior year comparable quarter.

Previous wording

The organic revenue growth was primarily driven by pricing actions and favorable demand trends in our above and below-ground retail fueling, fluid transport, and clean energy components businesses. We expect positive demand trends to continue in the rest of year driven by a favorable demand outlook across major end markets.

Current wording

The organic revenue growth was primarily driven by pricing actions and favorable demand trends in our above and below-ground retail fueling and clean energy components businesses. We expect positive demand trends to continue in the second half of the year driven by a favorable demand outlook across major end markets.

Previous wording

Overall bookings increased 13.1% as compared to the prior year comparable quarter. The bookings increase was primarily driven by demand in clean energy components and North America above and below-ground retail fueling equipment. Segment book-to-bill was 1.11.

Current wording

Overall bookings increased 14.4% as compared to the prior year comparable quarter. The bookings increase was primarily driven by demand in clean energy components and above and below-ground retail fueling. Segment book-to-bill was 1.01.

Previous wording

Imaging & Identification segment earnings decreased $0.1 million, or 0.2%, over the prior year comparable quarter. The decrease was primarily due to lower volumes, mostly offset by favorable pricing actions and productivity initiatives. Segment earnings margin decreased to 27.1% from 27.7% in the prior year comparable quarter.

Current wording

Imaging & Identification segment earnings increased $8.0 million, or 10.4%, over the prior year comparable quarter. The increase was primarily driven by volume growth, favorable price versus cost dynamics and productivity initiatives. Segment earnings margin increased to 27.9% from 26.3% in the prior year comparable quarter.

Previous wording

Overall bookings increased 8.5% as compared to the prior year comparable quarter. The bookings increase was primarily driven by order strength in our core marking and coding business. Segment book-to-bill was 1.10.

Current wording

Overall bookings increased 3.7% as compared to the prior year comparable quarter. The bookings increase was primarily driven by order strength in our core marking and coding business. Segment book-to-bill was 0.99.

Previous wording

Pumps & Process Solutions revenue for the first quarter of 2026 increased $44.2 million, or 9.0%, as compared to the first quarter of 2025, driven by acquisition-related growth of 7.0% and a favorable impact from foreign currency translation of 2.8%, partially offset by an organic revenue decline of 0.8%. Acquisition-related growth was driven by the acquisitions of Sikora AG and ipp Pump Products GmbH in the second quarter of 2025. Customer pricing favorably impacted revenue in the first quarter of 2026 by approximately 1.6% and by approximately 1.3% in the prior year comparable quarter.

Current wording

Pumps & Process Solutions revenue for the second quarter of 2026 increased $32.2 million, or 6.2%, as compared to the second quarter of 2025, driven by acquisition-related growth of 4.9%, a favorable impact from foreign currency translation of 0.9% and an organic revenue growth of 0.4%. Acquisition-related growth was driven by the acquisitions of Sikora AG and ipp Pump Products GmbH in the second quarter of 2025. Customer pricing favorably impacted revenue in the second quarter of 2026 by approximately 1.5% and by approximately 1.7% in the prior year comparable quarter.

Previous wording

The organic revenue decline was primarily due to anticipated revenue declines in our plastics and polymer processing solutions business as customers continue to focus on optimizing the significant capacity investments made over the last several years, partially offset by robust demand for single-use biopharma components and precision components for midstream natural gas compression and power generation. We expect organic growth to trend positively as we move through the year.

Current wording

The organic revenue growth was primarily driven by robust demand for products used in electrification and power generation infrastructure, single-use biopharma components, and industrial pumps, partially offset by anticipated revenue declines in our polymer processing solutions business as customers continue to focus on optimizing the significant capacity investments made over the last several years. We expect the organic growth to trend positively in the second half of the year.

Previous wording

Pumps & Process Solutions segment earnings increased $18.2 million, or 12.0%, over the prior year comparable quarter. The increase was driven by favorable price vs. cost dynamics, favorable portfolio mix and the impact from acquisitions, partially offset by lower polymer processing volumes. Segment earnings margin increased to 31.5% from 30.6% in the prior year comparable quarter.

Current wording

Pumps & Process Solutions segment earnings increased $19.3 million, or 12.1%, over the prior year comparable quarter. The increase was driven by favorable price versus cost dynamics, positive portfolio mix and the impact from acquisitions, partially offset by lower volumes in our polymer processing solutions business. Segment earnings margin increased to 32.4% from 30.6% in the prior year comparable quarter.

Previous wording

Overall bookings increased 19.7% as compared to the prior year comparable quarter. The bookings increase was primarily driven by positive demand trends in biopharmaceutical and power generation end markets, as well as the favorable impact from acquisitions. Segment book-to-bill was 1.11.

Current wording

Overall bookings increased 11.3% as compared to the prior year comparable quarter. The bookings increase was primarily driven by positive demand trends in the biopharmaceutical end market, as well as the favorable impact from acquisitions. Segment book-to-bill was 1.07.

Previous wording

Climate & Sustainability Technologies revenue increased $63.2 million, or 18.2%, as compared to the first quarter of 2025, driven by an organic revenue growth of 15.2% and a favorable impact from foreign currency translation of 3.0%. Customer pricing favorably impacted revenue in the first quarter of 2026 by approximately 2.0% and by approximately 0.2% in the prior year comparable quarter.

Current wording

Climate & Sustainability Technologies revenue increased $38.9 million, or 9.4%, as compared to the second quarter of 2025, driven by organic revenue growth of 8.3% and a favorable impact from foreign currency translation of 1.1%. Customer pricing favorably impacted revenue in the second quarter of 2026 by approximately 2.6% and by approximately 0.2% in the prior year comparable quarter.

Previous wording

The organic revenue growth was primarily driven by continued strong demand in CO 2 refrigerant systems and recovery in refrigerated door case volumes, as well as accelerating demand for heat exchangers used in data center cooling and other applications. We expect organic growth trends to remain constructive as we progress throughout the year.

Current wording

The organic revenue growth was primarily driven by continued strong demand in CO 2 refrigerant systems and growth in refrigerated door case volumes, as well as accelerating demand for heat exchangers used in data center cooling and other applications. We expect organic growth trends to remain constructive in the second half of the year.

Previous wording

Bookings in the first quarter of 2026 increased 63.5% from the prior year comparable quarter. The bookings increase was primarily driven by demand strength in retail refrigeration and heat exchanger demand trends, including longer lead-time orders. Segment book-to-bill was 1.57.

Current wording

Bookings in the second quarter of 2026 increased 45.8% from the prior year comparable quarter. The bookings increase was primarily driven by demand strength in retail refrigeration and heat exchangers, including longer lead-time orders. Segment book-to-bill was 1.23.

Previous wording

Climate & Sustainability Technologies segment earnings increased $11.9 million, or 22.8%, over the prior year comparable quarter. The increase in segment earnings was primarily driven by the favorable impact from higher volumes, productivity initiatives and the favorable mix impact from CO 2 refrigerant systems growth in retail refrigeration. Segment earnings margin increased to 15.6% from 15.0% in the prior year comparable quarter.

Current wording

Climate & Sustainability Technologies segment earnings increased $10.4 million, or 8.1%, for the six months ended June 30, 2026, as compared to the prior year comparable period. The earnings increase was primarily driven by the favorable impact from higher volumes and the favorable mix impact from CO 2 refrigerant systems growth in retail refrigeration, partially offset by costs relating to the timing of footprint consolidation projects and production ramp costs in retail refrigeration. Segment earnings margin decreased to 16.1% from 16.9% in the prior year comparable period.

Previous wording

Restructuring and other costs are not presented in our segment earnings because these costs are excluded from the segment operating performance measure reviewed by management. During the three months ended March 31, 2026, we incurred restructuring charges of $30.2 million and other costs, net of $6.6 million. Restructuring charges for the three months ended March 31, 2026 were primarily related to headcount reductions and exit costs in the Pumps & Process Solutions, Climate & Sustainability Technologies and Clean Energy & Fueling segments. These restructuring programs were initiated in 2025 and 2026 and the Company will continue to make proactive adjustments to its cost structure to align with current demand trends. Other costs, net of $6.6 million for the three months ended March 31, 2026 include $3.0 million in costs associated with a footprint reduction in our Climate & Sustainability Technologies segment. These restructuring and other charges were recorded in cost of goods and services and selling, general and administrative expenses in the condensed consolidated statements of earnings. Additional programs beyond the scope of the announced programs may be implemented during 2026 with related restructuring and other cost charges.

Current wording

Restructuring and other costs are not presented in our segment earnings because these costs are excluded from the segment operating performance measure reviewed by management. During the three and six months ended June 30, 2026, we incurred restructuring charges of $17.0 million and $47.2 million and other costs, net of $7.6 million and $14.2 million, respectively. Restructuring charges for the three and six months ended June 30, 2026 were primarily related to headcount reductions and exit costs in the Climate & Sustainability Technologies, Pumps & Process Solutions, Clean Energy & Fueling and Engineered Products segments. These restructuring programs were initiated in 2025 and 2026 and the Company will continue to make proactive adjustments to its cost structure to align with current demand trends. Other costs, net of $7.6 million and $14.2 million for the three and six months ended June 30, 2026 include $4.3 million and $7.3 million, respectively, in costs associated with a footprint reduction in our Climate & Sustainability Technologies segment. These restructuring and other charges were recorded in cost of goods and services and selling, general and administrative expenses in the condensed consolidated statements of earnings. Additional programs beyond the scope of the announced programs may be implemented during 2026 with related restructuring and other cost charges.

Previous wording

We recorded the following restructuring and other costs for the three months ended March 31, 2026:

Current wording

We recorded the following restructuring and other costs for the three and six months ended June 30, 2026:

Previous wording

Restructuring and other costs for the three months ended March 31, 2025 include restructuring charges of $8.3 million and other costs, net of $1.1 million. Restructuring charges for the three months ended March 31, 2025 were primarily related to headcount reductions and exit costs across the segments. These restructuring programs were initiated in 2024 and 2025. These restructuring and other charges were recorded in cost of goods and services and selling, general and administrative expenses in the condensed consolidated statement of earnings.

Current wording

Restructuring and other costs for the three and six months ended June 30, 2025 include restructuring charges of $13.5 million and $21.8 million and other costs, net of $9.7 million and $10.8 million. Restructuring charges for the three and six months ended June 30, 2025 were primarily related to exit costs and headcount reductions in the Climate & Sustainability Technologies, Pumps & Process Solutions and Clean Energy & Fueling segments. These restructuring programs were initiated in 2024 and 2025 and were undertaken in light of current market conditions. Other costs, net of $9.7 million and $10.8 million for the three and six months ended June 30, 2025 primarily relate to $4.0 million in costs associated with a product line exit in our Climate & Sustainability Technologies segment. These restructuring and other charges were recorded in cost of goods and services and selling, general and administrative expenses in the condensed consolidated statement of earnings.

Previous wording

We recorded the following restructuring and other costs for the three months ended March 31, 2025:

Current wording

We recorded the following restructuring and other costs for the three and six months ended June 30, 2025:

Previous wording

Cash flow from operating activities for the three months ended March 31, 2026 increased by $33.5 million compared to March 31, 2025, primarily driven by compensation payment timing and higher operating earnings during the period for the first quarter of 2026 as compared to the first quarter of 2025.

Current wording

Cash flow from operating activities for the six months ended June 30, 2026 increased by $57.4 million compared to June 30, 2025, primarily driven by higher operating earnings during the period.

Previous wording

Adjusted working capital has increased by $71.4 million, or 4.0%, for the three months ended March 31, 2026, driven by an increase of $73.2 million in net receivables and an increase of $98.1 million in net inventory, partially offset by an increase in accounts payable of $99.8 million. These amounts include the effects of acquisitions and foreign currency translation. Accounts receivable increased compared to the prior year as a result of higher revenue generation in the quarter. Inventories increased to support higher volume deliveries expected over the next several quarters, as supported by the order book and in line with historical seasonality. These factors also led to an increase in accounts payable.

Current wording

Adjusted working capital has increased by $219.4 million, or 12.4%, for the six months ended June 30, 2026, driven by an increase of $151.0 million in net receivables and an increase of $148.5 million in net inventory, partially offset by an increase in accounts payable of $80.1 million. These amounts include the effects of acquisitions and foreign currency translation. Accounts receivable increased compared to the prior year as a result of higher revenue generation during the period. Inventories increased to support higher volume deliveries expected over the next several quarters, as supported by the order book and in line with historical seasonality. These factors also led to an increase in accounts payable.

Previous wording

•Capital spending: Capital expenditures increased $11.6 million during the three months ended March 31, 2026, compared to the three months ended March 31, 2025, in line with our planned capital expenditures for the year, primarily driven by investments in growth and productivity.

Current wording

•Capital spending: Capital expenditures decreased $1.5 million during the six months ended June 30, 2026, compared to the six months ended June 30, 2025, in line with our planned capital expenditures for the year.

Previous wording

•Acquisitions: During the three months ended March 31, 2026, we deployed approximately $0.7 million to acquire one business within the Engineered Products segment. In comparison, during the three months ended March 31, 2025, we deployed approximately $29.3 million, net to acquire one business within the Pumps & Process Solutions segment. See Note 3 — Acquisitions in the condensed consolidated financial statements in Item 1 of this Form 10-Q for further details.

Current wording

•Acquisitions: During the six months ended June 30, 2026, we deployed approximately $0.7 million to acquire one business within the Engineered Products segment. In comparison, during the six months ended June 30, 2025, we deployed approximately $658.5 million, net to acquire three business within the Pumps & Process Solutions segment. See Note 3 — Acquisitions in the condensed consolidated financial statements in Item 1 of this Form 10-Q for further details.

Previous wording

•Repurchase of common stock: The Company repurchased a total of 250,000 shares for $53.9 million during the three months ended March 31, 2026 and 200,000 shares for $40.7 million during the same period in 2025. See Note 17 — Stockholders' Equity in the condensed consolidated financial statements in Item 1 of this Form 10-Q for further details.

Current wording

•Repurchase of common stock: During the six months ended June 30, 2026, the Company repurchased a total of 250,000 shares for $53.9 million. During the six months ended June 30, 2025, the Company repurchased a total of 200,000 shares for $40.7 million. See Note 17 — Stockholders' Equity in the condensed consolidated financial statements in Item 1 of this Form 10-Q for further details.

Previous wording

•Dividend payments: Total dividend payments to common shareholders were $70.4 million during the three months ended March 31, 2026, as compared to $71.4 million during the same period in 2025. Our dividends paid per common share increased 1.0% to $0.52 during the three months ended March 31, 2026 compared to $0.515 during the same period in 2025.

Current wording

•Dividend payments: Total dividend payments to common shareholders were $140.4 million during the six months ended June 30, 2026, as compared to $142.0 million during the same period in 2025. Our dividends paid per common share increased 1.0% to $1.04 during the six months ended June 30, 2026 compared to $1.03 during the same period in 2025.

Previous wording

For the three months ended March 31, 2026, we generated free cash flow of $131.2 million, representing 6.4% of revenue and 54.9% of earnings from continuing operations. Free cash flow for the three months ended March 31, 2026 increased $21.9 million, compared to March 31, 2025, primarily driven by compensation payment timing and higher operating earnings, partially offset by higher capital expenditures.

Current wording

For the six months ended June 30, 2026, we generated free cash flow of $319.6 million, representing 7.5% of revenue and 58.0% of earnings from continuing operations. Free cash flow for the six months ended June 30, 2026 increased $58.9 million, compared to June 30, 2025, primarily driven by higher operating earnings.