Dover Corporation · Earnings release · 8-K Exhibit 99

Investor Contact:

Media Contact:

Jack Dickens

Adrian Sakowicz

Vice President - Investor Relations

Vice President - Communications

jdickens@dovercorp.com

asakowicz@dovercorp.com

DOVER REPORTS SECOND QUARTER 2025 RESULTS

DOWNERS GROVE, Ill., July 24, 2025 — Dover (NYSE: DOV), a diversified global manufacturer, announced its financial results for the second quarter ended June 30, 2025. All comparisons are to the comparable period of the prior fiscal year, unless otherwise noted.

Three Months Ended June 30,

Six Months Ended June 30,

($ in millions, except per share data)

% Change*

% Change*

U.S. GAAP

Revenue

$

$

5

%

$

$

2

%

Earnings from continuing operations

%

%

Diluted EPS from continuing operations

%

%

Non-GAAP

Organic revenue change

1

%

1

%

Adjusted earnings from continuing operations 1

%

%

Adjusted diluted EPS from continuing operations

%

%

1 Q2 and year-to-date 2025 and 2024 adjusted earnings from continuing operations exclude after-tax purchase accounting expenses, restructuring and other costs and (gain) loss on dispositions.

* Change may be impacted by rounding.

For the quarter ended June 30, 2025, Dover generated revenue of $2.0 billion, an increase of 5% (+1% organic). GAAP earnings from continuing operations of $280 million increased 14%, and GAAP diluted EPS from continuing operations of $2.03 was up 14%. On an adjusted basis, earnings from continuing operations of $337 million were up 16% and adjusted diluted EPS from continuing operations of $2.44 was up 16%.

For the six months ended June 30, 2025, Dover generated revenue of $3.9 billion, an increase of 2% (+1% organic). GAAP earnings from continuing operations of $519 million decreased by 39%, and GAAP diluted EPS from continuing operations of $3.76 was down 38%, both principally due to the gain on the disposition of De-Sta-Co in the comparable period of the prior year. On an adjusted basis, earnings from continuing operations of $620 million increased 17%, and adjusted diluted EPS from continuing operations of $4.49 was up 18%.

A full reconciliation between GAAP and adjusted measures and definitions of non-GAAP and other performance measures are included as an exhibit herein.

MANAGEMENT COMMENTARY:

Dover's President and Chief Executive Officer, Richard J. Tobin, said, "Dover’s second quarter results were solid, driven by excellent production performance and execution in the face of a highly dynamic global trading environment.

"T1Top line performance accelerated in the quarter on broad-based shipment growth in short cycle components and continued strength in our secular-growth-exposed end markets. Order trends continued to post positive momentum in the quarter, bolstering our confidence in the second half outlook with a majority of our third quarter revenue already in the backlog. T2Margin performance in the quarter was exemplary with a record consolidated segment margin, a result of prior portfolio actions, positive mix impact from our growth platforms, and T3our rigorous cost containment and productivity actions.

"Our solid operational results were complemented by ongoing capital deployment actions. We continue to invest in high-ROI organic capital projects, including productivity and capacity expansions as well as targeted footprint optimization. T4During the quarter we also completed two acquisitions of attractive, fast-growing assets within our high-priority Pumps & Process Solutions segment. Our balance sheet strength remains an advantage that provides flexibility as we pursue value-creating capital deployment to further expand our businesses in high growth, high margin areas.

"We are approaching the second half of 2025 constructively. Despite some macroeconomic noise, underlying end market demand is healthy and is supported by our sustained order rates. As a result of our first half performance, G1T5we are increasing our full year adjusted EPS guidance from $9.20-$9.40 to $9.35-$9.55."

In 2025, Dover expects to generate G2GAAP EPS from continuing operations in the range of $8.00 to $8.20 (adjusted EPS from continuing operations of $9.35 to $9.55), based on G3full year revenue growth of 4% to 6%.

CONFERENCE CALL INFORMATION:

Dover will host a webcast and conference call to discuss its second quarter results at 9:30 A.M. Eastern Time (8:30 A.M. Central Time) on Thursday, July 24, 2025. The webcast can be accessed on the Dover website at dovercorporation.com. The conference call will also be made available for replay on the website. Additional information on Dover's results and its operating segments can be found on the Company's website.

ABOUT DOVER:

Dover is a diversified global manufacturer and solutions provider with annual revenue of over $7 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 70 years, our team of approximately 24,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV."

FORWARD-LOOKING STATEMENTS:

This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements in this document other than statements of historical fact are statements that are, or could be deemed, "forward-looking" statements. Forward-looking statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond the Company's control. Factors that could cause actual results to differ materially from current expectations include, among other things, general economic conditions and conditions in the particular markets in which we operate; supply chain constraints and labor shortages that could result in production stoppages; inflation in material input costs and freight logistics; the impacts of natural or human-induced disasters, acts of war, terrorism, international conflicts, and public health crises on the global economy and on our customers, suppliers, employees, business and cash flows; changes in customer demand and capital spending; competitive factors and pricing pressures; our ability to develop and launch new products in a cost-effective manner; changes in law, including the effect of tax laws and T6developments with respect to trade policy and tariffs; our ability to identify, consummate and successfully integrate and realize synergies from newly acquired businesses; acquisition valuation levels; the impact of interest rate and currency exchange rate fluctuations; capital allocation plans and changes in those plans, including with respect to dividends, share repurchases, investments in research and development, capital expenditures and acquisitions; our ability to effectively deploy capital resulting from dispositions; our ability to derive expected benefits from restructurings, productivity initiatives and other cost reduction actions; the impact of legal

compliance risks and litigation, including with respect to product quality and safety, cybersecurity and privacy; and our ability to capture and protect intellectual property rights. For details on the risks and uncertainties that could cause our results to differ materially from the forward-looking statements contained herein, we refer you to the documents we file with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024, and our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These documents are available from the Securities and Exchange Commission, and on our website, dovercorporation.com. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

INVESTOR SUPPLEMENT - SECOND QUARTER 2025

DOVER CORPORATION

CONSOLIDATED STATEMENTS OF EARNINGS

(unaudited)(in thousands)

Three Months Ended June 30,

Six Months Ended June 30,

Revenue

$

$

$

$

Cost of goods and services

Gross profit

Selling, general and administrative expenses

Operating earnings

Interest expense

Interest income

(Gain) loss on dispositions

Other income, net

Earnings before provision for income taxes

Provision for income taxes

Earnings from continuing operations

(Loss) earnings from discontinued operations, net

Net earnings

$

$

$

$

IS - 1

DOVER CORPORATION

QUARTERLY EARNINGS PER SHARE

(unaudited)(in thousands, except per share data*)

Earnings Per Share

Q1

Q2

Q2 YTD

Q1

Q2

Q2 YTD

Q3

Q4

Basic (loss) earnings per share:

Continuing operations

$

$

$

$

$

$

$

$

$

Discontinued operations

$

$

$

$

$

$

$

$

$

Net earnings

$

$

$

$

$

$

$

$

$

Diluted (loss) earnings per share:

Continuing operations

$

$

$

$

$

$

$

$

$

Discontinued operations

$

$

$

$

$

$

$

$

$

Net earnings

$

$

$

$

$

$

$

$

$

Net (loss) earnings and weighted average shares used in calculated (loss) earnings per share amounts are as follows:

Continuing operations

$

$

$

$

$

$

$

$

$

Discontinued operations

Net earnings

$

$

$

$

$

$

$

$

$

Weighted average shares outstanding:

Basic

Diluted

Dividends paid per common share

$

$

$

$

$

$

$

$

$

* Per share data may be impacted by rounding.

IS - 2

DOVER CORPORATION

QUARTERLY SEGMENT INFORMATION

(unaudited)(in thousands)

Q1

Q2

Q2 YTD

Q1

Q2

Q2 YTD

Q3

Q4

REVENUE

Engineered Products

$

$

$

$

$

$

$

$

$

Clean Energy & Fueling

Imaging & Identification

Pumps & Process Solutions

Climate & Sustainability Technologies

Intersegment eliminations

Total consolidated revenue

$

$

$

$

$

$

$

$

$

EARNINGS FROM CONTINUING OPERATIONS

Segment Earnings:

Engineered Products

$

$

$

$

$

$

$

$

$

Clean Energy & Fueling

Imaging & Identification

Pumps & Process Solutions

Climate & Sustainability Technologies

Total segment earnings

Purchase accounting expenses 1

Restructuring and other costs 2

(Gain) loss on dispositions 3

Corporate expense / other 4

Interest expense

Interest income

Earnings before provision for income taxes

Provision for income taxes

Earnings from continuing operations

$

$

$

$

$

$

$

$

$

SEGMENT EARNINGS MARGIN

Engineered Products

Clean Energy & Fueling

Imaging & Identification

Pumps & Process Solutions

Climate & Sustainability Technologies

Total segment earnings margin

1 Purchase accounting expenses are primarily comprised of amortization of intangible assets.

2 T7Restructuring and other costs relate to actions taken for headcount reductions, facility consolidations and site closures, product line exits, and other asset charges.

3 (Gain) loss on dispositions, including post-closing adjustments.

4 Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, shared business services and digital and IT overhead costs, deal-related expenses and various administrative expenses relating to the corporate headquarters.

IS - 3

DOVER CORPORATION

QUARTERLY ADJUSTED EARNINGS AND ADJUSTED EARNINGS PER SHARE (NON-GAAP)

(unaudited)(in thousands, except per share data*)

Non-GAAP Reconciliations

Q1

Q2

Q2 YTD

Q1

Q2

Q2 YTD

Q3

Q4

Adjusted earnings from continuing operations:

Earnings from continuing operations

$

$

$

$

$

$

$

$

$

Purchase accounting expenses, pre-tax 1

Purchase accounting expenses, tax impact 2

Restructuring and other costs, pre-tax 3

Restructuring and other costs, tax impact 2

(Gain) loss on dispositions, pre-tax 4

(Gain) loss on dispositions, tax-impact 2

Adjusted earnings from continuing operations

$

$

$

$

$

$

$

$

$

Adjusted diluted earnings per share from continuing operations:

Diluted earnings per share from continuing operations

$

$

$

$

$

$

$

$

$

Purchase accounting expenses, pre-tax 1

Purchase accounting expenses, tax impact 2

Restructuring and other costs, pre-tax 3

Restructuring and other costs, tax impact 2

(Gain) loss on dispositions, pre-tax 4

—

—

(Gain) loss on dispositions, tax-impact 2

—

—

—

Adjusted diluted earnings per share from continuing operations

$

$

$

$

$

$

$

$

$

1 Purchase accounting expenses are primarily comprised of amortization of intangible assets.

2 Adjustments were tax effected using the statutory tax rates in the applicable jurisdictions or the effective tax rate, where applicable, for each period. The tax impact of the (gain) loss on dispositions in Q4 2024 reflects updated tax information related to a Q3 2024 disposition.

3 Restructuring and other costs relate to actions taken for headcount reductions, facility consolidations and site closures, product line exits, and other asset charges. Q2 2025 and YTD 2025 include $4.0 million in costs associated with a product line exit and Q1 2024 and FY 2024 include $3.4 million of non-cash asset impairment charges for our Climate & Sustainability Technologies segment.

4 (Gain) loss on dispositions represents a $529.9 million gain recorded during Q1 2024 and a $0.7 million loss and $1.1 million gain recorded as post-closing adjustments in Q2 2024 and Q4 2024, respectively, on the disposition of De-Sta-Co in the Engineered Products segment. Additionally, a gain of $68.6 million was recorded in Q3 2024 and a $1.2 million post-closing adjustment (reduction to the gain) in Q4 2024 on the disposition of a minority owned equity method investment in the Climate & Sustainability Technologies segment.

* Per share data and totals may be impacted by rounding.

IS - 4

DOVER CORPORATION

QUARTERLY ADJUSTED SEGMENT EBITDA (NON-GAAP)

(unaudited)(in thousands)

Non-GAAP Reconciliations

Q1

Q2

Q2 YTD

Q1

Q2

Q2 YTD

Q3

Q4

ADJUSTED SEGMENT EBITDA

Engineered Products:

Segment earnings

$

$

$

$

$

$

$

$

$

Other depreciation and amortization 1

Adjusted segment EBITDA 2

Adjusted segment EBITDA margin 2

Clean Energy & Fueling:

Segment earnings

$

$

$

$

$

$

$

$

$

Other depreciation and amortization 1

Adjusted segment EBITDA 2

Adjusted segment EBITDA margin 2

Imaging & Identification:

Segment earnings

$

$

$

$

$

$

$

$

$

Other depreciation and amortization 1

Adjusted segment EBITDA 2

Adjusted segment EBITDA margin 2

Pumps & Process Solutions:

Segment earnings

$

$

$

$

$

$

$

$

$

Other depreciation and amortization 1

Adjusted segment EBITDA 2

Adjusted segment EBITDA margin 2

Climate & Sustainability Technologies:

Segment earnings

$

$

$

$

$

$

$

$

$

Other depreciation and amortization 1

Adjusted segment EBITDA 2

Adjusted segment EBITDA margin 2

Total Segments:

Total segment earnings 2, 3

$

$

$

$

$

$

$

$

$

Other depreciation and amortization 1

Total Adjusted segment EBITDA 2

Total Adjusted segment EBITDA margin 2

1 Other depreciation and amortization relates to property, plant, and equipment and intangibles, and excludes amounts related to purchase accounting expenses and restructuring and other costs.

2 Refer to Non-GAAP Disclosures section for definition.

3 Refer to Quarterly Segment Information section for reconciliation of total segment earnings to earnings from continuing operations.

IS - 5

DOVER CORPORATION

QUARTERLY EARNINGS FROM CONTINUING OPERATIONS TO ADJUSTED SEGMENT EBITDA RECONCILIATION (NON-GAAP)

(unaudited)(in thousands)

Non-GAAP Reconciliations

Q1

Q2

Q2 YTD

Q1

Q2

Q2 YTD

Q3

Q4

Earnings from continuing operations

$

$

$

$

$

$

$

$

$

Provision for income taxes

Earnings before provision for income taxes

Interest income

Interest expense

Corporate expense / other 1

(Gain) loss on dispositions 2

Restructuring and other costs 3

Purchase accounting expenses 4

Total segment earnings 5

Add: Other depreciation and amortization 6

Total adjusted segment EBITDA 5

$

$

$

$

$

$

$

$

$

1 Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, shared business services and digital and IT overhead costs, deal-related expenses and various administrative expenses relating to the corporate headquarters.

2 (Gain) loss on dispositions, including post-closing adjustments.

3 Restructuring and other costs relate to actions taken for headcount reductions, facility consolidations and site closures, product line exits, and other asset charges.

4 Purchase accounting expenses are primarily comprised of amortization of intangible assets.

5 Refer to Non-GAAP Disclosures section for definition.

6 Other depreciation and amortization relates to property, plant, and equipment and intangibles, and excludes amounts related to purchase accounting expenses and restructuring and other costs.

IS - 6

DOVER CORPORATION

REVENUE GROWTH FACTORS AND ADJUSTED EPS GUIDANCE RECONCILIATIONS (NON-GAAP)

(unaudited)

Non-GAAP Reconciliations

Revenue Growth Factors

Q2

Q2 YTD

Organic

Engineered Products

%

%

Clean Energy & Fueling

%

%

Imaging & Identification

—

%

%

Pumps & Process Solutions

%

%

Climate & Sustainability Technologies

%

%

Total Organic

%

%

Acquisitions

%

%

Dispositions

—

%

%

Currency translation

%

%

Total*

%

%

* Totals may be impacted by rounding.

Q2

Q2 YTD

Organic

United States

%

%

Europe

%

%

Asia

%

%

Other Americas

%

%

Other

%

%

Total Organic

%

%

Acquisitions

%

%

Dispositions

—

%

%

Currency translation

%

%

Total*

%

%

* Totals may be impacted by rounding.

Adjusted EPS Guidance Reconciliation

Range

2025 Guidance for Earnings per Share from Continuing Operations (GAAP)

$

$

Purchase accounting expenses, net

Restructuring and other costs, net

Gain on dispositions, net

2025 Guidance for Adjusted Earnings per Share from Continuing Operations (Non-GAAP)

$

$

* Per share data and totals may be impacted by rounding.

IS - 7

DOVER CORPORATION

QUARTERLY CASH FLOW AND FREE CASH FLOW (NON-GAAP)

(unaudited)(in thousands)

Quarterly Cash Flow

Q1

Q2

Q2 YTD

Q1

Q2

Q2 YTD

Q3

Q4

Net Cash Flows Provided By (Used In):

Operating activities

$

$

$

$

$

$

$

$

$

Investing activities

Financing activities

Quarterly Free Cash Flow (Non-GAAP)

Q1

Q2

Q2 YTD

Q1

Q2

Q2 YTD

Q3

Q4

Cash flow from operating activities1

$

$

$

$

$

$

$

$

$

Less: Capital expenditures

Free cash flow

$

$

$

$

$

$

$

$

$

Cash flow from operating activities as a percentage of revenue

Cash flow from operating activities as a percentage of adjusted earnings from continuing operations

Free cash flow as a percentage of revenue

Free cash flow as a percentage of adjusted earnings from continuing operations

1 Q2, Q3, Q4 and FY 2024 include income tax payments of $56.0 million, $24.0 million, $23.4 million and $103.4 million, respectively, related to the gain on the disposition of De-Sta-Co. Q4 and FY 2024 also include income tax payments of $20.4 million related to the sale of a minority owned equity method investment.

IS - 8

DOVER CORPORATION

PERFORMANCE MEASURES

(unaudited)(in thousands)

Q1

Q2

Q2 YTD

Q1

Q2

Q2 YTD

Q3

Q4

BOOKINGS

Engineered Products

$

$

$

$

$

$

$

$

$

Clean Energy & Fueling

Imaging & Identification

Pumps & Process Solutions

Climate & Sustainability Technologies

Intersegment eliminations

Total consolidated bookings

$

$

$

$

$

$

$

$

$

IS - 9

Non-GAAP Measures Definitions

In an effort to provide investors with additional information regarding our results as determined by GAAP, management also discloses non-GAAP information that management believes provides useful information to investors. Adjusted earnings from continuing operations, adjusted diluted earnings per share from continuing operations, total segment earnings, total segment earnings margin, adjusted segment EBITDA, adjusted segment EBITDA margin, free cash flow, free cash flow as a percentage of revenue, free cash flow as a percentage of adjusted earnings from continuing operations and organic revenue growth are not financial measures under GAAP and should not be considered as a substitute for earnings from continuing operations, diluted earnings from continuing operations per share, cash flows from operating activities, or revenue as determined in accordance with GAAP, and they may not be comparable to similarly titled measures reported by other companies.

The items described in our definitions herein, unless otherwise noted, relate solely to our continuing operations.

Adjusted earnings from continuing operations represents earnings from continuing operations adjusted for the effect of purchase accounting expenses, restructuring and other costs/benefits and gain/loss on dispositions. Purchase accounting expenses are primarily comprised of amortization of intangible assets. We exclude after-tax purchase accounting expenses because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions the Company consummates. While we have a history of acquisition activity, our acquisitions do not happen in a predictive cycle. Exclusion of purchase accounting expenses facilitates more consistent comparisons of operating results over time. We believe it is important to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation.

We exclude the other items because they occur for reasons that may be unrelated to the Company's commercial performance during the period and/or management believes they are not indicative of the Company's ongoing operating costs or gains in a given period.

Adjusted diluted earnings per share from continuing operations or adjusted earnings per share from continuing operations represents diluted earnings per share from continuing operations adjusted for the effect of purchase accounting expenses, restructuring and other costs/benefits and gain/loss on disposition.

Total segment earnings is defined as the sum of earnings before purchase accounting expenses, restructuring and other costs/benefits, gain/loss on dispositions, corporate expenses/other, interest expense, interest income and provision for income taxes for all segments. Total segment earnings margin is defined as total segment earnings divided by revenue.

Adjusted segment EBITDA is defined as segment earnings plus other depreciation and amortization expense, which relates to property, plant, and equipment and intangibles, and excludes amounts related to purchase accounting expenses and restructuring and other costs/benefits. Adjusted segment EBITDA margin is defined as adjusted segment EBITDA divided by revenue.

Management believes the non-GAAP measures above are useful to investors to better understand the Company’s ongoing profitability as they better reflect the Company's core operating results, offer more transparency and facilitate easier comparability to prior and future periods and to its peers.

Free cash flow represents net cash provided by operating activities minus capital expenditures. Free cash flow as a percentage of revenue equals free cash flow divided by revenue. Free cash flow as a percentage of adjusted earnings from continuing operations equals free cash flow divided by adjusted earnings from continuing operations. Management believes that free cash flow and free cash flow ratios are important measures of liquidity because they provide management and investors a measurement of cash generated from operations that is available for mandatory payment obligations and investment opportunities, such as funding acquisitions, paying dividends, repaying debt and repurchasing our common stock.

Management believes that reporting organic revenue growth, which excludes the impact of foreign currency exchange rates and the impact of acquisitions and dispositions, provides a useful comparison of our revenue and trends between periods.

Performance Measures Definitions

Bookings represent total orders received from customers in the current reporting period and exclude de-bookings related to orders received in prior periods, if any. This metric is an important measure of performance and an indicator of revenue order trends.

We use the above operational metric in monitoring the performance of the business. We believe the operational metric is useful to investors and other users of our financial information in assessing the performance of our segments.