Dover Corp reports a 16% profit increase in Q2, driven by strong demand in automotive, aerospace, and defense sectors.
Dover Corp, a diversified manufacturer, reported a 16% increase in its second-quarter profit to $282 million, driven by strong demand for its engineered products, particularly in the automotive, aerospace, and defense sectors. The company's Engineered Products unit experienced a 5.5% rise in sales year-over-year. Dover's net income for the quarter rose to $2.04 per share, with quarterly revenue increasing by 4% to approximately $2.2 billion. The firm has been focusing on streamlining its portfolio and recently agreed to sell its environmental solutions unit to Terex Corp for $2 billion.
July 25, 2024
16 Articles