Dover Corporation - DOV STOCK NEWS

Hydro, a part of PSG and Dover (NYSE: DOV), has launched the EvoDose NXT Chemical Dispenser for the EMEA facility cleaning, kitchen, and healthcare markets. This next-generation chemical dilution system offers highly accurate dilution of concentrated chemicals with enhanced ease of use and efficiency. Key features include:

- New valve design for easier maintenance
- User-friendly bi-stationary push button with punch protection
- Pressure limiter for consistent dilution rates
- Compact design with Quad Diverter Valve (QDV)
- Ability to dilute up to four chemicals simultaneously
- Compliance with EN1717 category 4 water protection guidelines
- Customizable labeling and cabinets
- Unique slide-on design for simple installation and expansion

The EvoDose NXT aims to eliminate dilution variances and product waste, ensuring optimal chemical usage for cleaner and safer facilities.

Dover (NYSE: DOV) has acquired SPS Cryogenics B.V. and Special Gas Systems (SGS) B.V., both located in Heerhugowaard, the Netherlands. These companies are now part of OPW's Clean Energy Solutions business within Dover's Clean Energy & Fueling segment. SPS and SGS specialize in designing, manufacturing, and supplying vacuum-insulated piping systems for various liquified gases.

This acquisition complements Dover's recent purchase of Demaco, supporting OPW CES's growth strategy and expanding its capabilities in the cryogenic and industrial gas sectors. The move aims to address the increasing global demand for clean energy solutions and reinforces Dover's commitment to delivering advanced technological solutions to customers.

Dover Fueling Solutions (DFS), part of Dover (NYSE: DOV), has launched the PetroVend Synergy Fuel Site Controller (PetroVend Synergy FSC), a comprehensive platform for fleet operations. This innovative solution consolidates multiple functionalities, including advanced Proprietary Card File capabilities, into a single streamlined package. Key features include:

- Remote monitoring and management of fueling devices
- Real-time visibility into site operations, transactions, and alerts
- Enhanced PCF capabilities for precise control over fuel distribution
- Integrated dispenser communications for simplified hardware requirements
- Upcoming support for Automatic Vehicle Identification (AVI) and fleet card processing

The PetroVend Synergy FSC aims to simplify operations, reduce points of failure, and offer cost savings for fleet operators. It sets a new industry benchmark for operational excellence and cost-effectiveness in the fuel and convenience retail industries.

Dover (NYSE: DOV) has announced an increase in its quarterly cash dividend, demonstrating its commitment to shareholder value. The Board of Directors has raised the dividend from $0.51 to $0.515 per share, marking a $0.005 increase. This decision extends Dover's remarkable streak of 69 consecutive years of annual dividend increases. The enhanced dividend will be distributed on September 16, 2024, to shareholders on record as of August 30, 2024. This consistent dividend growth underscores Dover's financial stability and its dedication to rewarding long-term investors.

Dover (NYSE: DOV) reported strong Q2 2024 results with revenue of $2.2 billion, up 4% (+5% organic). GAAP net earnings increased 16% to $282 million, with diluted EPS up 19% to $2.04. Adjusted net earnings rose 14% to $327 million, and adjusted EPS grew 15% to $2.36. For H1 2024, revenue increased 2% to $4.3 billion, with GAAP net earnings up 94% to $914 million. The company completed two strategic acquisitions in clean energy components and announced the divestiture of its Environmental Solutions Group. Dover maintains its full-year 2024 guidance, expecting GAAP EPS of $10.80 to $10.95 and revenue growth of 3% to 4%.

PSG Biotech, a part of PSG and Dover (NYSE: DOV), has announced the release of the SumoFlo® CELE-8103-D Integral Display Transmitter. This device is designed to provide real-time digital readouts of critical process metrics such as flow rate, totalized flow, temperature, and product density when paired with their single-use Coriolis flow sensors.

The SumoFlo CELE-8103-D offers both panel-mounted and tabletop configurations and features a four-line display for easy monitoring. It is compatible with all SumoFlo CPFM-8103 Series Single-Use Coriolis Flow Sensor models and does not come into contact with the fluids, ensuring durability and reusability. Key features include the ability to re-zero the flow sensor and reset the totalizer directly from the front panel, enhancing ease of use.

The new transmitter aims to help biopharmaceutical processors quickly identify and respond to process variations, thereby improving yield and reducing downtime.

Rotary, a part of Vehicle Service Group and Dover (NYSE: DOV), has launched the LT35A Air-Hydraulic Lifting Table. This innovative tool is designed to enhance flexibility, functionality, and safety in automotive service and repair shops. With a 3,500 lb. capacity, the LT35A is ideal for lifting heavy components like EV batteries, engines, and transmissions.

Key features include:

• Side-to-side tilt alignment with fore and aft tilt adjustments
• Air-hydraulic operation (no electrical power needed)
• Pushbutton pendant control for easy use
• Air-released mechanical locks and 360° low friction casters

Dover (NYSE: DOV) has acquired Marshall Excelsior Company (MEC) for $395M in cash, integrating it into the OPW Global unit within Dover's Clean Energy & Fueling segment. MEC, a leading provider of flow control components for liquefied petroleum gas and industrial gases, generated approximately $120 million in revenue in 2023.

This strategic acquisition expands OPW's offerings in the compressed and liquefied gases industry, enhancing Dover's portfolio in clean energy applications. MEC's strengths include significant recurring revenue from mission-critical components, differentiated products with regulatory and safety-driven advantages, and a diverse blue-chip customer base.

Dover (NYSE: DOV) has announced the sale of its Environmental Solutions Group (ESG) business to Terex (NYSE: TEX) for $2 billion. ESG, part of Dover's Engineered Products segment, is a leading provider of refuse collection vehicles, compactors, and balers, along with related aftermarket equipment and digital offerings. The Chattanooga-based unit generated approximately $750 million in revenue in 2023.

The transaction is expected to close before the end of 2024, subject to regulatory approvals and customary closing conditions. Dover's CEO, Richard J. Tobin, expressed gratitude to ESG's management team for their transformational efforts over the past decade. Centerview Partners and Skadden, Arps, Slate, Meagher & Flom LLP served as financial advisor and legal counsel to Dover, respectively.