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Dover Corporation (NYSE: DOV) is a diversified global manufacturer known for delivering innovative equipment and components, consumable supplies, aftermarket parts, software digital solutions, and support services. Headquartered in Downers Grove, Illinois, Dover operates through five key segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. With annual revenues exceeding $8 billion, Dover combines its global scale with operational agility to lead the markets it serves.
Dover's Engineered Products segment focuses on the creation of specialized equipment and components for a variety of industries including automotive, aerospace, and industrial machinery. The Clean Energy & Fueling segment addresses the growing demand for sustainable energy solutions through innovative products and services related to LPG, LNG, and hydrogen fueling.
The Imaging & Identification segment provides advanced marking and coding solutions for product identification and traceability. This segment includes Markem-Imaje, which recently launched a versatile new opaque white ink compatible with its extruded product coders.
Dover's Pumps & Process Solutions segment is renowned for its reliable pumps and flow control solutions, catering to sectors such as biopharma, food and beverage, and industrial markets. Climate & Sustainability Technologies includes refrigeration and food equipment businesses, highlighting Dover's commitment to sustainability.
Recent achievements include the launch of the RegO Presto-Link device and mobile app integration, which enhances the speed and accuracy of LPG container testing, and the introduction of new products by Vehicle Service Group (VSG) to cater to the EMEA region's automotive equipment market. Additionally, Dover announced a successful financial performance for the first quarter of 2024, with revenues reaching $2.1 billion, demonstrating steady growth and strong market presence.
Dover's entrepreneurial approach, cultivated over 65 years, and its team's ownership mindset foster collaboration with customers to redefine what's possible. The company is recognized for its market leadership and continuous innovation across its diverse business segments.
Dover (NYSE: DOV) will release its second quarter 2024 earnings on July 25, 2024, at 6:00 a.m. Central time (7:00 a.m. Eastern time). The company will host a conference call later that morning at 8:30 a.m. Central time (9:30 a.m. Eastern time) to discuss the results. Participants can join the call by dialing 1 (800) 343-4136 for domestic calls or 1 (203) 518-9843 for international calls, with conference ID DOVQ224. Dover encourages callers to dial in at least 15 minutes early. The live audio webcast will be accessible on Dover's website, and a replay of the call will be available from 12:00 p.m. Central time on July 25 until 10:59 p.m. Central time on August 15, 2024. Additionally, a webcast replay link will be archived on Dover's website for 90 days.
Systech, a subsidiary of Dover and part of Markem-Imaje, launched a new turnkey manual aggregation and rework solution for the pharmaceutical industry. This is the first integrated product post-acquisition of Pharmacontrol Electronic (PCE). The solution combines PCE's robust hardware with Systech's leading software and mobile rework capabilities, designed to optimize operations, ensure product safety, and comply with regulatory standards. The compact, portable design supports item-by-item manual aggregation and flexible rework on production floors, enhancing productivity and data integrity as regulatory deadlines approach.
According to Sreedhar Patnala, General Manager of Systech, the solution strengthens supply chain safety and connectivity, promising increased operational productivity and sustained regulatory compliance.
RegO Products, part of OPW Clean Energy Solutions and Dover (NYSE: DOV), announced the launch of the new SSA3218F Series 3" Single Flange Internal Valve.
This stainless-steel valve is designed for liquefied petroleum gas (LPG) and anhydrous ammonia (NH3) applications in bobtails, transport trucks, nurse tanks, and liquid-storage plants and terminals. The SSA3218F model offers manual or remote actuation and features cam-type roller openings for low-maintenance service.
Key benefits include elimination of a liquid-trap area, stainless-steel construction for increased service life, nitrile seat disc, PTFE stem seals, and easily serviced packing. The valve's high-flow design prevents pump cavitation, and built-in safety features meet or exceed industry standards.
Hillphoenix, part of Dover Food Retail and Dover (NYSE: DOV), has launched ChargeSecure™, a charge preservation solution for CO2 refrigeration systems. Designed to maintain CO2 levels during power outages and service events, ChargeSecure helps food retailers minimize downtime and protect perishable goods. This eco-friendly solution operates using existing CO2 and requires only 1.5 amps, making it highly energy-efficient. ChargeSecure can be easily installed on the wall or floor and integrates seamlessly with existing Hillphoenix CO2 racks. The system offers cost savings, a small footprint, and extended operation via a backup battery.
On June 5, 2024, OPW Vehicle Wash Solutions, part of Dover (NYSE: DOV), announced the launch of two new product add-ons and an online store. The new additions include the Washnetics® Tunnel Wash Components and OneShot™ Presoak. Washnetics® integrates into Belanger tunnel wash systems, automatically adjusting to vehicle sizes for a customized wash, enhancing throughput rates. OneShot™ Presoak, part of the Turtle Wax Pro line, offers superior cleaning using just one ounce per wash, suitable for various car wash systems. The new WashNOW!® Online Store replaces the ePOS portal, providing a customizable, secure shopping experience accessible via the ICS mobile app.
Dover Fueling Solutions (DFS), part of Dover (NYSE: DOV), has introduced RDM by DFS, a remote diagnostics and management solution targeting fuel and convenience retailers in EMEA.
The system, available on Wayne Helix® fuel dispensers, offers enhanced OEM data collection and allows remote monitoring via DX Monitor®. This aims to provide quicker issue resolution, cutting maintenance costs and improving consumer experience.
RDM by DFS enables real-time monitoring and troubleshooting, thus reducing the need for onsite engineers and minimizing service disruptions.
On May 22, 2024, ACME Cryogenics, a segment of OPW Clean Energy Solutions and Dover (NYSE: DOV), announced new 6" and 8" valves for its Model CV Valve product line. These larger valves meet the increasing demand for hydrogen applications. Dan Hutchinson, Technical Sales Manager, emphasized that these additions highlight the company's commitment to supporting the expanding hydrogen infrastructure. The Model CV valves, ideal for hydrogen handling, also comply with ASME B31.3 and CSA B51 regulations. They cater to various industries, including aerospace, food & beverage, electronics, vehicle refueling, industrial manufacturing, and medical.
Dover Fueling Solutions (DFS), part of Dover (NYSE: DOV), has partnered with FLYX to launch the DFS Order Kiosk in the Europe, Middle East, and Africa (EMEA) region. This collaboration aims to provide fuel retailers with a compact, flexible, and efficient ordering solution for convenience stores (c-stores). The DFS Order Kiosk can be wall-mounted, stand-alone, or countertop-secured, catering to various c-store layouts. It offers cross-selling and up-selling options and integrates with DFS's Prizma hub to streamline operations. This initiative is expected to enhance consumer experience, boost sales, reduce wait times, and decrease the need for operators at fueling stations.
Dover (DOV) will have its President and CEO, Richard J. Tobin, speak at the 2024 Bank of America Securities Transportation, Airlines, and Industrials Conference on May 14, 2024. The presentation will be available via live audio webcast on dovercorporation.com.
Dover (NYSE: DOV) announced a regular quarterly cash dividend of $0.51 per share, payable on June 14, 2024. The dividend will be given to shareholders of record as of May 31, 2024.
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