DoverDOV

01Customer pricing favorably impacted revenue by approximately 2.2% in the second quarter of 2026 Gross profit margin increased 30 basis points to 40.2%, versus the prior year comparable quarter The gross profit margin increase was primarily driven by favorable price versus cost dynamics, operating leverage from volume growth and benefits from restructuring actions Clean Energy & Fueling segment earnings margin increased to 21.6% from 19.7% Pumps & Process Solutions segment earnings margin increased to 32.4% from 30.6%

02Organic revenue growth of 8.3% in Climate & Sustainability Technologies was primarily driven by continued strong demand in CO2 refrigerant systems and growth in refrigerated door case volumes, as well as accelerating demand for heat exchangers used in data center cooling Pumps & Process Solutions organic revenue growth was primarily driven by robust demand for products used in electrification and power generation infrastructure, single-use biopharma components Clean Energy & Fueling organic growth of 8.6% was primarily driven by pricing actions and favorable demand trends in our above and below-ground retail fueling and clean energy components businesses Revenue growth was primarily led by robust demand in our secular-growth-exposed end markets

03Accelerating bookings with book-to-bill ratios above 1.0 in key growth segments signal expanding backlogs that provide revenue visibility and production scheduling stability into 2027. A 16% consolidated bookings increase substantially outpacing 6.9% revenue growth indicates the order pipeline is building rather than depleting.

04Dover's combination of low leverage, substantial free cash flow conversion, and large undrawn credit capacity gives management optionality to fund bolt-on acquisitions and opportunistic buybacks without issuing equity or straining the balance sheet. The 37× interest coverage and falling net-debt ratio demonstrate disciplined capital allocation that can withstand cyclical downturns.