![]() Citigroup Industrials Conference September 23, 2014 Bob Livingston President & CEO Exhibit 99.1 |
![]() 2 Forward looking statements We want to remind everyone that our comments may contain forward-looking statements that are inherently subject to uncertainties and risks. We caution everyone to be guided in their analysis of Dover by referring to the documents we file from time to time with the SEC, including our Form 10-K for 2013 and our Form 10-Q for the second quarter of 2014, for a list of factors that could cause our results to differ from those anticipated in any such forward-looking statements. We would also direct your attention to our website, www.dovercorporation.com, where considerably more information can be found. |
![]() 3 Strategy Our track record of success is based on: – Core technological advantages – Leading brands in the markets we serve – Commitment to industry leadership through innovation and scale – Strong focus on the customer Our deep understanding of the customer and our exceptional capabilities in providing solutions enable us to win Our technologies and innovative products are enablers for our customers to win Our focus on people drives our performance – Develop deep bench – Move talent through organization |
![]() 4 Recent activities support our underlying strategy & strengths Building our industrial businesses – Continued to invest and acquire in our growth areas Recent acquisitions expand product breadth and geographic reach – Our business profile is more consistent and focused with sustainable higher margins Increased investment in productivity initiatives – Global supply chain – Rooftop consolidations – Common infrastructure for shared services – Lean activities Customer intimacy – Innovate for the customer Recurring theme of delivering efficiency and sustainability – Superior customer service On-time delivery, quality, support Leverage our scale Generate cash Market share leadership – Focus on technology and innovation drive share gains and customer loyalty Recent Activities Underlying Strengths |
![]() 5 Our track record of success Revenue EBIT EPS Dividends Note: Revenue and EBIT is in millions; adjusted EPS represents Dover’s earnings from continuing operations per common share adjusted for gains from discrete and other tax items of $0.17, $0.16, $0.23, $0.09 and $0.46 respectively, for 2009, 2010, 2011, 2012 and 2013, and other one-time gains of $0.02 in 2013. $0 $325 $650 $975 $1,300 $0 $2,000 $4,000 $6,000 $8,000 2009 2010 2011 2012 2013 Revenue & EBIT Revenue EBIT $1.00 $1.20 $1.40 $1.60 $0.00 $1.50 $3.00 $4.50 2009 2010 2011 2012 2013 Adj. EPS & Dividends Paid Adj. EPS Dividend per share |
![]() 6 Energy – Drilling and core US artificial lift business is performing very well US well count and rig count showing continued modest improvement Strong shale activity – Middle East activity remains strong – Slowing Canada/Australia activity – Bearings markets reflect continued slow OEM gas turbine build rates – Winch activity impacted by soft military orders and weak crane markets Engineered Systems – Generally solid market conditions in Industrial Waste Handling and auto aftermarket continue to lead performance – Printing & Identification market continues to support solid mid-digit organic growth Recent acquisitions performing well Market commentary |
![]() 7 Fluids – Business remains solid across pumps and fluid transfer Pumps driven by strong project activity in plastics and petrochemicals markets and oil & gas Fluid transfer benefiting from active global retail fueling markets and fuel transportation safety concerns Refrigeration & Food Equipment – Expect to outgrow a soft market – Modest organic growth Delayed capital spending in dollar store market segment Latin America (Mexico, Caribbean) refrigeration market remains weak Small format store rollout delayed by major retail customer – Completed transition to new Atlanta refrigeration system manufacturing facility Market commentary |
![]() 8 Capital Allocation – Raised annual dividend for 59 th consecutive year – Acquisition pipeline remains very active Will close $800 million in deals in 2014 Fluids and Energy receiving most attention Summary – Full-year EPS range at $4.75 - $4.85 3 rd quarter approximately $0.08 below our expectations, impacted by: – Modest, but measurable impact from costs associated with recently completed deals and those in pipeline – Lower Canada/Australia volume and bearings market within Energy – Customer push-outs in Refrigeration – Favorable trends seen into 2015 Strong US oil & gas dynamics Strong shipments in Printing & Identification, Waste Handling and Fluids Benefits of recent acquisitions Capital allocation and summary |
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