Dover Corporation · NYSE:DOV

Dover — JP Morgan Industrials Conference 2022

15 slides from Dover's conference presentation, Mar 16, 2022

  1. Slide 1: Dover Corporation

    March 16, 2022 Dover Corporation JP Morgan Industrials Conference Rich Tobin, President & CEO

  2. Slide 2: Forward-Looking Statements and Non-GAAP Measures

    Forward-Looking Statements and Non-GAAP Measures We want to remind everyone that our comments may contain forward-looking statements that are inherently subject to uncertainties and risks, including the impacts of coronavirus (COVID-19) on the global economy and on our customers, suppliers, employee

  3. Slide 3: Dover Strategy Delivers Through-Cycle Value Creation

    Dover Strategy Delivers Through-Cycle Value Creation Revenue and Adj. Segment EBIT Margin(1) Adj. Earnings Per Share(1) Adj. Segment EBIT Margin (%) Revenue ($B) +14-15% CAGR ~4-5% Org. $7.63 $8.45-$8.65 Rev CAGR(1) $5.93 $5.67 $4.97 $8.5-$8.7B $7.9B $7.0B $7.1B $6.7B ~25-35% 2018 2019 2020 2021 202

  4. Slide 4: 2021 Performance

    2021 Performance Top Line Strength Margin Improvement EPS Growth Organic Revenue Growth(1) Adj. Segment EBIT Margin(1) Adjusted EPS(1) +220 bps +35% 30% 15% 18.9% $7.63 13% 11% 16.7% $5.67 9% Q1 Q2 Q3 Q4 FY ’21 2020 2021 2020 2021  Full year organic revenue growth(1)  Full year margin accretion 

  5. Slide 5: Delivering on Capital Allocation Priorities

    Delivering on Capital Allocation Priorities Priorities Communicated in September 2019 2021 Results 1 Invest Organically  $171M capex in ’21; 2.2% of Revenue  High-confidence organic investments  Compelling pipeline of organic growth and productivity – Capacity for growth investments – Digitizatio

  6. Slide 6: Portfolio Evolution Drove Renaming of Two Segments

    Portfolio Evolution Drove Renaming of Two Segments 2018 PF 2021 Segment Revenue Portfolio Evolution Revenue(1) Segment $B $B Digital / Software Acquisitions Secular growth adjacencies in Fueling  Engineered Car wash 1.8 Products Engineered 1.6  Built ~$300M clean energy and Products cryogenic gas

  7. Slide 7: Appendix

    Appendix 7

  8. Slide 8: Organic Revenue and Bookings Bridges

    Organic Revenue and Bookings Bridges Q4 2021 Organic Growth FY 2021 Organic Growth Revenue Bookings Revenue Bookings Organic Engineered Products 16.3% 19.7% 14.1% 33.2% Clean Energy & Fueling -4.3% -7.0% 5.8% 11.2% Imaging & Identification 2.8% 0.7% 8.0% 7.7% Pumps & Process Solutions 29.8% 26.3% 26

  9. Slide 9: Organic Revenue Bridges

    Organic Revenue Bridges 2021 Revenue Growth Factors Q1 Q2 Q3 Q4 Organic Engineered Products 2.3% 25.4% 14.2% 16.3% Clean Energy & Fueling 3.0% 24.9% 3.0% -4.3% Imaging & Identification 3.7% 20.2% 7.4% 2.8% Pumps & Process Solutions 18.4% 33.6% 24.6% 29.8% Climate & Sustainability Technologies 18.3%

  10. Slide 10: Reconciliation of Adjusted Net Earnings to Net Earnings and Adjusted Diluted EPS to Diluted EPS

    Reconciliation of Adjusted Net Earnings to Net Earnings and Adjusted Diluted EPS to Diluted EPS ($ in millions, except per share data) Q4 2021 Q4 2020 FY 2021 FY 2020 FY 2019 FY 2018 Net earnings from continuing operations ($) 363 182 1,124 683 678 591 Acquisition-related amortization, pre tax 36 35

  11. Slide 11: Reconciliation of FY 2018-21 Earnings from Continuing Operations to Adj. Segment EBIT

    Reconciliation of FY 2018-21 Earnings from Continuing Operations to Adj. Segment EBIT and Calculation of Adj. EBIT Margin ($ in millions) FY 2021 FY 2020 FY 2019 FY 2018 Revenue 7,907 6,684 7,136 6,992 Earnings from continuing operations 1,124 683 678 591 Add back: Corporate expense 161 127 124 130

  12. Slide 12: Reconciliation of EPS to Adjusted EPS

    Reconciliation of EPS to Adjusted EPS Range FY 2022 Guidance for Earnings per Share (GAAP) $7.45 $7.65 Acquisition-related amortization, net $0.89 Rightsizing and other costs, net $0.11 FY 2022 Guidance for Adjusted Earnings per Share (Non-GAAP) $8.45 $8.65 Note: Numbers may not add due to rounding

  13. Slide 13: Non-GAAP Definitions

    Non-GAAP Definitions Definitions of Non-GAAP Measures: Adjusted Net Earnings: is defined as net earnings adjusted for the effect of acquisition-related amortization, rightsizing and other costs/benefits, gain/loss on dispositions, loss on extinguishment of debt, loss on assets held for sale, and the

  14. Slide 14: Performance Measure Definitions

    Performance Measure Definitions Definitions of Performance Measures: Bookings represent total orders received from customers in the current reporting period. This metric is an important measure of performance and an indicator of revenue order trends. Organic Bookings represent total orders received

  15. Slide 15: Slide 15

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