![]() Robert W. Baird & Co. Industrial Conference November 11, 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 third 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 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. Revenue EBIT $0 $325 $650 $975 $1,300 $0 $2,000 $4,000 $6,000 $8,000 2009 2010 2011 2012 2013 Revenue & EBIT Revenue EBIT EPS Dividends $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 – Core US artificial lift business is performing well, especially in key basins: Permian, Eagle Ford, Bakken Solid shale activity – Drilling remains stable – Middle East activity remains strong – Canada/Australia activity lower than last year – Compression markets improving Engineered Systems – Generally solid market conditions in Industrial Auto-related businesses continue to lead performance – Printing & Identification market continues to support solid organic growth Strong US activity Recent acquisitions performing well Market commentary |
![]() 7 Fluids – Business remains solid across pumps and fluid transfer Fluid transfer benefiting from active global retail fueling markets and regulation related to fuel transportation safety concerns Pumps driven by project activity in plastics and petrochemicals markets Refrigeration & Food Equipment – Expect to outgrow a soft market – Modest organic growth Shipments resume on small format store format push-outs from Q3 Delayed capital spending in dollar store market segment Latin America (Mexico, Caribbean) refrigeration market remains weak – Completed transition to new Atlanta refrigeration system manufacturing facility Market commentary |
![]() 8 Raised annual dividend for 59 th consecutive year Acquisition pipeline rebuilding – Closed $800 million in deals in 2014 Accelerated, Wellmark (Energy) Liquip (Fluids) MS Printing (Engineered Systems) – Focus on small bolt-on opportunities Repurchased 5.7 million shares for $467 million YTD Solid business trends through October; Q4 expectations: – Energy growth driven by North American well activity (key basins) – Global growth in Printing & Identification and strong dynamics in Industrial drive growth in Engineered Systems – Strong results in Fluids on continued regulatory tailwinds in fluid transfer – Slightly stronger seasonal pattern in Refrigeration & Food Equipment Capital allocation & Summary |
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