Slide 1: Earnings Conference Call First Quarter 2025
April 24, 2025 – 8:30am CT Earnings Conference Call First Quarter 2025
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 general economic conditions and conditions in the particular markets in which we operate, changes in
Slide 3: Q1 2025 Performance Highlights
Q1 2025 Performance Highlights Financial Summary Commentary Revenue All in: -1% to $1.9B ▪ Encouraging intra-quarter trends, with Organic growth(1) : +1% sequential growth in revenue and bookings Commentary as the quarter progressed Bookings(2) Organic growth(2) : +1% ▪ Continued positive order tren
Slide 4: Summary Corporate Q1 Results
Summary Corporate Q1 Results Q1 2025 Highlights Revenue change All-in -1% ▪ FX impact: -1.1%. Acquisitions (net of (Y-o-Y) Organic(1) +1% divestitures): -0.3% Bookings change All-in(2) -1% ▪ Sixth consecutive quarter of Y-o-Y organic (Y-o-Y) Organic(2) +1% bookings(2) growth Adjusted Segment Margin
Slide 5: Segment Results
Segment Results Q1 2025 Adj. Segment Revenue ($M) / Segment EBITDA(1) % / bps Y-o-Y Organic(1) ∆ % Performance Commentary ∆ Y-o-Y ▪ Lower volumes in vehicle services and shipment timing in aerospace & defense. Growth in fluid $255 19% dispensing DEP -8% -100 bps ▪ Margin down on lower volumes and mi
Slide 6: Q1 Free Cash Flow
Q1 Free Cash Flow $M 2025 2024 ∆ Net earnings 231 632 (401) Earnings from discontinued operations, net 8 (30) 38 Gain on dispositions (2) (530) 528 D&A 87 82 5 Change in working capital (73) (93) 20 Change in other(1) (93) 86 (179) Cash flow from operations 157 146 11 Capex (48) (40) (8) Free cash f
Slide 7: Bookings Momentum Continuing in 2025
Bookings Momentum Continuing in 2025 Consolidated Y-o-Y Organic Bookings(1) Growth Q1 ’25 Bookings(1) Detail by Segment $M Organic B-t-B(1) Growth(1) Commentary ▪ Six consecutive quarters of Y-o-Y bookings(1) growth +DD growth in aerospace & ▪ Q1 ’25 book-to-bill(1): 1.07 DEP 1.04 -4% defense; impro
Slide 8: ~20% of Portfolio Expected to Grow Double Digits In Aggregate in '25
~20% of Portfolio Expected to Grow Double Digits In Aggregate in ‘25 Clean Energy Components Precision Components Single-Use Biopharma Liquid Cooling CO2 Systems ▪ Tailwinds across broader gas ▪ Resurgent US energy ▪ Robust outlook in new ▪ Strong demand for liquid ▪ Broad-based national retailer co
Slide 9: Investing Behind Growth and Productivity to Support Long Term Outlook
Investing Behind Growth and Productivity to Support Long Term Outlook Rooftop / Productivity / Supply Chain Growth / Segment Description Fixed Cost Automation Optimization Capacity Reduction DEP Reshoring of a key product line DCEF Footprint rationalization in 2 businesses to eliminate 6 rooftops Ne
Slide 10: Commentary on the Current Tariff Tumult
Commentary on the Current Tariff Tumult Revenue / Cost Bases and Incremental Tariff Dover is Comparatively Well-Positioned to Exposures (Based on FY 2024 Results) Manage the Current Environment Tariff data is prior to any cost mitigation, targeted pricing, or strategic share gains ▪ We manufacture i
Slide 11: Guiding for 11-13% EPS Growth in 2025
Guiding for 11-13% EPS Growth in 2025 Dry Powder as of March 2025 $ in billions ▪ Organic(1): 2% - 4% Revenue Growth Rate ▪ All-in: 2% - 4% Optional temporary investment grade Guidance assumes 1.08 EUR/USD exchange rate leverage(2) for right opportunity EPS from ▪ Adjusted EPS(1): $9.20 - $9.40 Cont
Slide 12: Appendix
Appendix 12
Slide 13: Organic Revenue and Organic Bookings Growth
Organic Revenue and Organic Bookings Growth Note: Numbers may not add due to rounding 13
Slide 14: Bookings by Segment
Bookings by Segment Note: Numbers may not add due to rounding 14
Slide 15: Organic Bookings Bridges
Organic Bookings Bridges Note: Numbers may not add due to rounding 15
Slide 16: Reconciliation of Earnings from Continuing Operations to Total Segment Earnings and Adjusted Segment EBITDA
Reconciliation of Earnings from Continuing Operations to Total Segment Earnings and Total Adjusted Segment EBITDA Note: Numbers may not add due to rounding 16
Slide 17: Reconciliation of Segment Earnings to Adjusted Segment EBITDA by Segment
Reconciliation of Segment Earnings to Adjusted Segment EBITDA by Segment Note: Numbers may not add due to rounding 17
Slide 18: Reconciliation of Earnings from Continuing Operations to Adjusted EPS
Reconciliation of Earnings from Continuing Operations to Adjusted Earnings from Continuing Operations and Adjusted EPS from Continuing Operations Note: Numbers may not add due to rounding 18
Slide 19: Reconciliation of Free Cash Flow and EPS to Adjusted EPS
Reconciliation of Free Cash Flow and EPS from Continuing Operations to Adjusted EPS from Continuing Operations Note: Numbers may not add due to rounding 19
Slide 20: Non-GAAP Definitions
Non-GAAP Definitions Definitions of Non-GAAP Measures: The items described in our definitions herein, unless otherwise noted, relate solely to our continuing operations. Adjusted Earnings From Continuing Operations: is defined as earnings from continuing operations adjusted for the effect of purchas
Slide 21: Performance Measure Definitions
Performance Measure Definitions Definitions of Performance Measures: The items described in our definitions herein, unless otherwise noted, relate solely to our continuing operations. Bookings represent total orders received from customers in the current reporting period and exclude de-bookings rela
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