Every material Form 8-K Dover filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Dover said Senior Vice President and Chief Financial Officer Brad Cerepak plans to retire effective January 31, 2025, after serving as CFO since May 2011. Chris Woenker, 42, currently CFO of the Engineered Products and Climate & Sustainability Technologies segments, will succeed him as Senior Vice President and CFO on that date, and will report to Chairman and CEO Richard Tobin.
Brad Cerepak, CFO since May 2011, plans to retire effective January 31, 2025
Chris Woenker, 42, will become SVP and CFO effective January 31, 2025
Woenker joined Dover in March 2013 and will keep his current segment CFO roles while working with Cerepak through the 2024 fiscal year close
Woenker will report to Chairman and CEO Richard Tobin
Dover reported third-quarter 2024 revenue of $2.0 billion, up 1%, with GAAP diluted EPS from continuing operations of $2.26, up 22%, and adjusted diluted EPS of $2.27, up 6%. The company reiterated full-year 2024 GAAP EPS guidance of $10.11 to $10.21 and adjusted EPS guidance of $8.08 to $8.18, based on revenue growth of 1% to 3%.
Q3 2024 revenue was $1,984 million versus $1,958 million a year earlier, an increase of 1%.
Q3 GAAP earnings from continuing operations were $313 million, up 19%, including a $68.6 million gain on disposition of a minority-owned equity method investment.
Adjusted earnings from continuing operations were $314 million, up 4%.
Full-year 2024 GAAP EPS guidance is $10.11 to $10.21; adjusted EPS guidance is $8.08 to $8.18, excluding the Environmental Solutions Group business moved to discontinued operations.
Dover completed the sale of its Environmental Service Group (ESG) business on October 8, 2024, and furnished unaudited recast financials that present ESG as discontinued operations ahead of its third quarter 2024 results. The filing shows a $529.9 million pre-tax gain on the disposition in the first quarter of 2024, while second-quarter 2024 revenue of $1.95 billion and diluted EPS from continuing operations of $1.78 were both slightly below the prior-year quarter. The recast figures are unaudited and derived from audited historical statements.
ESG business sale completed October 8, 2024; ESG is now reported as discontinued operations
Q1 2024 gain on disposition of $529.9 million pre-tax; Q1 2024 diluted net earnings per share of $4.52
Q2 2024 revenue of $1.95 billion vs $1.96 billion in Q2 2023; diluted EPS from continuing operations $1.78 vs $1.86
Q2 2024 adjusted diluted EPS from continuing operations $2.10 vs $2.14 in Q2 2023
Dover reported second-quarter 2024 results for the period ended June 30, 2024, with revenue of $2.2 billion, up 4% (5% organic), and GAAP net earnings of $282 million, up 16%. The company reaffirmed a full-year 2024 GAAP EPS range of $10.80 to $10.95 and adjusted EPS range of $9.05 to $9.20, and said it announced the divestiture of its Environmental Solutions Group business.
Q2 2024 revenue: $2.2 billion, up 4% (+5% organic); six-month revenue $4.3 billion, up 2%
Q2 GAAP diluted EPS: $2.04, up 19%; adjusted diluted EPS: $2.36, up 15%
Full-year 2024 guidance: GAAP EPS of $10.80 to $10.95; adjusted EPS of $9.05 to $9.20; revenue growth of 3% to 4%
Dover announced the divestiture of its Environmental Solutions Group business unit and completed two bolt-on acquisitions
On July 21, 2024, Dover entered into an agreement to sell its Environmental Solutions Group businesses to Terex Corporation for $2.0 billion in cash, subject to customary adjustments. Closing depends on customary conditions, including expiration of the Hart-Scott-Rodino waiting period, and either party may terminate if the deal is not completed by April 21, 2025. The filing does not state the financial effect of the sale on Dover's earnings or the use of proceeds.
Buyer: Terex Corporation; price: $2.0 billion in cash, subject to customary transaction adjustments
Agreement signed July 21, 2024; either party may terminate if the deal is not consummated by April 21, 2025
Closing requires the expiration or termination of the Hart-Scott-Rodino waiting period and no governmental order blocking the deal
Full agreement to be filed as an exhibit to the Form 10-Q for the quarter ending September 30, 2024
Dover Corporation announced on May 2, 2024 that Kimberly K. Bors, its Senior Vice President and Chief Human Resources Officer, will leave the company effective July 8, 2024. The filing does not name a successor or include any financial results. For shareholders, the change is a senior executive departure, and the filing states how her severance and equity awards will be handled under existing plans.
Kimberly K. Bors, Senior Vice President and Chief Human Resources Officer, employment ends July 8, 2024
Bors is eligible for benefits under the Company's Executive Severance Plan
Her outstanding equity awards will be treated under the 2021 Omnibus Incentive Plan and the 2012 Equity and Cash Incentive Plan, as applicable
Dover reported first-quarter 2024 revenue of $2.1 billion, up 1%, and GAAP diluted EPS of $4.52, up 177%, the latter boosted by a $530 million pre-tax gain on the sale of De-Sta-Co. Adjusted diluted EPS was $1.95, up 1%, and management narrowed full-year adjusted EPS guidance to the higher end of its $9.00 to $9.15 range.
Q1 2024 revenue of $2.1 billion, up 1% (organic revenue down 1%)
GAAP net earnings of $632 million, up 177%, including a $530 million pre-tax gain on the De-Sta-Co sale
Adjusted diluted EPS of $1.95, up 1% from $1.94 a year earlier
Full-year 2024 adjusted EPS guidance of $9.00 to $9.15, narrowed to the higher end of the range; a $500 million accelerated share repurchase was launched
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Dover filing is on SEC EDGAR ↗. 8-K briefs of other companies →