Dover Corporation · NYSE:DOV
Dover — J.P. Morgan Industrials Conference 2021
15 slides from Dover's conference presentation, Mar 16, 2021
Slide 1: Dover Corporation J.P. Morgan Industrials Conference
Dover Corporation J.P. Morgan Industrials Conference March 16, 2021 Rich Tobin, President & CEO Exhibit 99.1
Slide 2: Forward-Looking Statements and Non-GAAP Measures
2 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 the novel coronavirus (COVID-19) on the global economy and on our customers, supplie
Slide 3: Dover Profile
3 Dover Profile Strong Businesses: Premium industrial franchises that partner with customers for innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services Global Scale: – 23,000+ employees worldwide – 18 operating companies
Slide 4: Dover Strategy Delivers Through-Cycle Value Creation
4 Dover Strategy Delivers Through-Cycle Value Creation Cumulative Total Shareholder Return(2)Revenue and Adj. Segment EBIT Margin(1) Note: (1) Non-GAAP measures (definitions and/or reconciliations in appendix). (2) Source: Capital IQ. 12/31/17 12/31/18 12/31/19 12/31/20 DOV S&P 500 Industrials (Sect
Slide 5: 2020 Performance
5 2020 Performance Note: (1) Non-GAAP measures (definitions and reconciliations in appendix) (2) See performance measures definitions in appendix Margin Improvement Robust Cash FlowTop Line Resilience M a r A u g A p r Ju l Ja n F e b M a y Ju n S e p O ct N o v D e c Monthly Bookings(2) 0% (% Y-o-Y
Slide 6: Capital Allocation
6 Capital Allocation Note: (1) Acquisitions (net of cash acquired) less proceeds from divestitures. (2) Dividends plus share repurchases. (3) Capital available for allocation. Based on 2021 guidance of 8-10% revenue growth, free cash flow of 11-13% of revenue, and 25-35% conversion. Assumes $175M mi
Slide 7: Investments in Four Core Enterprise Capabilities Driving Efficiency and Growth
7 Investments in Four Core Enterprise Capabilities Driving Efficiency and Growth Dover Digital Operational Excellence Dover Business Services India Innovation Center Efficiency Growth Efficiency Efficiency Center-led initiatives drive synergistic value of Dover portfolio 733 2019 2021E ~1,100 50+% i
Slide 8: Q1 2021 Trends
8 Q1 2021 Trends Broad demand strength YTD: year-over-year bookings(1) and backlog(1) up double- digits, growing in all five segments – Particularly strong order intake in food retail (incl. natural refrigerant business), can making, heat exchangers, pumps & biopharma, industrial automation, waste
Slide 9: Appendix
9 Appendix
Slide 10: Reconciliation of Earnings from Continuing Operations to Adj. Segment EBIT and EBITDA
10 Reconciliation of Earnings from Continuing Operations to Adj. Segment EBIT and Adj. Segment EBITDA and Calculation of Adj. Segment EBIT Margin and Adj. Segment EBITDA Margin (1) Adjusted depreciation and amortization expense excludes depreciation and amortization included within rightsizing and o
Slide 11: Reconciliation of Adjusted Net Earnings from Continuing Operations
11 Reconciliation of Adjusted Net Earnings from Continuing Operations to Net Earnings from Continuing Operations and Calculation of Adjusted Diluted EPS under U.S. GAAP Note: Numbers may not add due to rounding ($ in millions, except per share data) FY 2020 FY 2019 FY 2018 Net earnings from continui
Slide 12: Reconciliation of Free Cash Flow, Organic Revenue Growth, and EPS Guidance
12 Reconciliation of Free Cash Flow, Organic Revenue Growth, and EPS to Adjusted EPS Guidance Note: Numbers may not add due to rounding FY 2020 Organic (6.6)% Acquisitions 1.0% Dispositions (0.7)% Currency translation - % Total (6.3)% ($ in millions) FY 2020 FY 2019 Net Cash Provided by Operating Ac
Slide 13: Non-GAAP Definitions
13 Non-GAAP Definitions Definitions of Non-GAAP Measures: Adjusted Earnings from Continuing Operations: is defined as earnings from continuing operations adjusted for the effect of acquisition-related amortization, rightsizing and other costs, gain on dispositions, loss on debt extinguishment, loss
Slide 14: Performance Measure Definitions
14 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. Backlog represents an estimate of the total re
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