Dover Corp - DOV STOCK NEWS

Dover (NYSE: DOV) has announced that its President and CEO, Richard J. Tobin, will address the Goldman Sachs Industrials and Materials Conference on May 10, 2022, at 8:50 am ET. Attendees can access a live audio webcast of the presentation via dovercorporation.com, with a replay available for 90 days. Dover is a diversified global manufacturer with annual revenues of approximately $8 billion, operating across five segments. Headquartered in Downers Grove, Illinois, Dover employs over 25,000 people.

Dover (NYSE: DOV) has announced the 2022 winners of its Dover Foundation Scholars Program, awarding scholarships of up to $12,000 to support the education of 30 children of full-time employees across its global operations. The program has now been running for eleven years and has provided approximately $2.6 million in financial aid, benefiting 373 students to date. This initiative reflects Dover's commitment to education and community support within its workforce.

Dover reported a 10% revenue increase to $2.1 billion for Q1 2022 compared to Q1 2021, driven by strong demand across most sectors. However, GAAP net earnings fell by 3% to $226 million, with diluted EPS also down 3% to $1.56. Adjusted net earnings rose 5% to $275 million, with adjusted diluted EPS reaching $1.90. Despite challenges from supply chain issues and inflation, the company maintains its 2022 guidance for adjusted EPS between $8.45 and $8.65, anticipating continued growth amidst robust backlogs and order rates.

Dover's Rotary has launched the Wide Smartlift, a versatile vehicle lift aimed at modernizing dealerships and repair shops. This lift is 1.5 times wider and 2 times faster than standard lifts, featuring a redesigned superstructure for improved under-vehicle access. It accommodates electric vehicles, trucks, and cars, with capacities of 10,000 or 12,000 lbs. The innovative design supports the increasing electric vehicle market, enabling quicker service and higher productivity, reflecting Rotary’s commitment to industry advancements.

Dover (NYSE: DOV) announces the expansion of its Destaco brand's manual clamp product family, featuring new and upgraded models aimed at enhancing user flexibility in workholding applications. Key innovations include the Front-Mount-Base Manual Clamps, Toggle Lock Plus Manual Clamps, and enhancements to the 800 Series Manual Clamps. These products focus on safety, ease of use, and improved performance, aligning with the company's mission to deliver cutting-edge solutions. Dover, headquartered in Downers Grove, Illinois, reported an annual revenue of approximately $8 billion.

Dover (NYSE: DOV) announced that its subsidiary, SWEP, received the 2021 Continuous Improvement Award from Trane Technologies. This award recognizes SWEP's excellence in manufacturing, particularly during a challenging year for the industry. SWEP demonstrated operational excellence by maintaining product quality and timely supply, effectively managing its supply chain, and adapting production priorities to meet customer demands. Additionally, SWEP emphasizes sustainability and efficient processes, contributing to Trane's ability to provide consistent value amidst global material shortages.

Dover Fueling Solutions (DFS) has expanded its partnership with Global Technical Services (GTS) to bring its DX Wetstock management services to Egypt. This end-to-end fuel management solution aims to enhance fuel loss visibility and reduce operational costs for clients in the region. GTS, a Cairo-based provider of industrial automation solutions, serves over 3,600 sites, including key governmental entities. The partnership is expected to strengthen both companies' positions in the Egyptian market, leveraging GTS's local expertise and DFS's advanced technology.

Dover (NYSE: DOV) will release its first quarter 2022 earnings on April 21, 2022, at 6:00 a.m. CT (7:00 a.m. ET). A conference call will follow at 8:00 a.m. CT (9:00 a.m. ET) for detailed discussions on the results. Interested participants can dial 1 (866) 831-8713 for domestic and 1 (203) 518-9797 for international access, using conference ID DOVQ122. The live audio webcast will be available on Dover's website, with a replay accessible for 90 days. Dover is a diversified manufacturer with approximately $8 billion in annual revenue, serving multiple sectors.

Dover (NYSE: DOV) has successfully acquired certain intellectual property from Boivin Evolution Inc. related to electrically-powered refuse collection vehicle (RCV) bodies. This acquisition aims to bolster Dover's Environmental Solutions Group (ESG) and enhance its technological leadership in the waste collection sector. BEV, founded by industry veteran Claude Boivin, specializes in all-electric automated RCV bodies that can operate on various chassis, promising sustainable waste collection solutions. This strategic move positions Dover to capitalize on the growing demand for electric RCVs, aligning with sustainability initiatives.