8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________________________

FORM 8-K

________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 16, 2014

________________________________

DOVER CORPORATION

(Exact name of registrant as specified in its charter)

________________________________

State of Delaware	1-4018	53-0257888
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
3005 Highland Parkway
Downers Grove, Illinois		60515
(Address of principal executive offices)		(Zip Code)

(630) 541-1540

(Registrant’s telephone number, including area code)

______________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On October 16, 2014, Dover Corporation (i) issued the Press Release attached hereto as Exhibit 99.1 announcing its results of operations for the quarter ended September 30, 2014; and (ii) posted on its website at

http://www.dovercorporation.com the presentation slides attached hereto as Exhibit 99.2 for the quarter ended September 30, 2014.

The information in this Current Report on Form 8-K, including exhibits, is being furnished to the Securities and Exchange Commission (the “SEC”) and shall not be deemed to be incorporated by reference into any of Dover’s filings with the SEC under the Securities Act of 1933.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are furnished as part of this report:

99.1 Dover Corporation Press Release dated October 16, 2014.

99.2 Presentation Slides posted on Dover Corporation’s website at http://www.dovercorporation.com.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

Date:	October 16, 2014	DOVER CORPORATION
		(Registrant)
		By:	/s/ Ivonne M. Cabrera
			Ivonne M. Cabrera
			Senior Vice President, General Counsel & Secretary

EXHIBIT INDEX

Number	Exhibit
99.1	Press Release of Dover Corporation dated October 16, 2014
99.2	Presentation Slides posted on Dover Corporation’s website at http://www.dovercorporation.com

EX-99.1

Exhibit 99.1

CONTACT:

Paul Goldberg

Vice President - Investor Relations

(212) 922-1640

DOVER REPORTS THIRD QUARTER2014 RESULTS AND

UPDATES FULL YEAR GUIDANCE

• Reports quarterly revenue of $2.1 billion, an increase of 8% over the prior year

• Achieves adjusted quarterly diluted earnings per share from continuing operations of $1.35, up 8% from an adjusted prior year

• Generates bookings growth of 10%

• Narrows guidance for 2014 full year adjusted diluted earnings per share from continuing operations to $4.75 to $4.80, a $0.05 reduction to the high end of prior guidance, largely reflecting the impact of recent acquisitions

Downers Grove, Illinois, October 16, 2014 — Dover (NYSE: DOV) announced today that for the third quarter ended September 30, 2014, revenue was $2.1 billion, an increase of 8% over the prior year. The revenue increase was driven by organic growth of 4% and an increase of 4% from acquisitions, with a negligible impact from foreign exchange. Earnings from continuing operations were $232.8 million, or $1.38 diluted earnings per share (“EPS”), compared to $226.2 million, or $1.31 EPS, in the prior year period, representing increases of 3% and 5%, respectively. EPS from continuing operations for the quarter ended September 30, 2014, included discrete tax benefits of $0.03, while the quarter ended September 30, 2013, included discrete tax benefits of $0.04 and other one-time gains of $0.02. Excluding these items, adjusted EPS from continuing operations for the third quarter of 2014 was $1.35, an increase of 8% over an adjusted EPS of $1.25 in the prior year period.

Revenue for the nine months ended September 30, 2014 was $6.0 billion, an increase of 7% over the prior year, reflecting organic growth of 4% and a 3% increase from acquisitions. Foreign exchange had a negligible impact. Earnings from continuing operations for the nine months ended September 30, 2014 were $626.6 million, or $3.69 EPS, compared to $651.5 million, or $3.75 EPS in the prior year period, representing decreases of 4% and 2%, respectively. EPS from continuing operations during this period includes discrete tax benefits of $0.04 EPS compared to $0.42 EPS in the prior year, as well as $0.02 of other one-time gains recognized in the prior year. Excluding these items, adjusted EPS from continuing operations for the nine months ended September 30, 2014 was $3.65, an increase of 10% over an adjusted EPS of $3.31 in the prior year.

Commenting on the third quarter results, Dover's President and Chief Executive Officer, Robert A. Livingston, said, “I was pleased with our strong finish to the third quarter, during which business activity significantly improved in September after softness in July and August. The result for the quarter was revenue and bookings growth at all segments. Most notably, Fluids delivered 17% growth, while Energy and Engineered Systems each grew 8%. In all, we generated revenue growth of 8%, grew bookings 10%, and saw our backlog increase 14%."

“Over the past three quarters, we have made great strides in enhancing our businesses. We have completed a number of productivity initiatives across the organization and have strengthened several of our businesses with acquisitions, including our recently completed Accelerated transaction. In total, we have invested roughly $800 million on acquisitions year to date. As a result, we have broadened our product offerings in Artificial Lift, expanded our global footprint in Fluid Transfer, and opened new markets for Printing and Identification. In addition, we have used our cash flow and balance sheet to grow our annual dividend for the 59^th consecutive year, as well as fund nearly $400 million in share repurchases.”

"Looking at the full year, we expect total revenue growth of about 8%. Organic growth is anticipated to be around 4%. Completed acquisitions will now provide approximately 4% growth, representing a 1% increase from our prior forecast, principally driven by our recently completed acquisitions. While these deals will have a dilutive impact in 2014, they should be solidly accretive in 2015. In total, we now expect full year adjusted EPS to be in the range of $4.75 to $4.80, a $0.05 reduction to the high end of our prior guidance, largely reflecting the impact of recent acquisitions.”

Net earnings for the third quarter of 2014 were $231.8 million, or $1.38 EPS, which included a net loss from discontinued operations of $1.0 million, or $0.01 EPS compared to net earnings of $269.1 million, or $1.56 EPS, for the same period of 2013, which included earnings from discontinued operations of $42.9 million, or $0.25 EPS.

Net earnings for the nine months ended September 30, 2014 were $605.9 million, or $3.57 EPS, compared to net earnings of $809.2 million, or $4.65 EPS, for the same period of 2013. 2014 results reflected a net loss from discontinued operations of $20.7 million, or $0.12 EPS, which included $27.1 million in spin-off costs. 2013 results reflected earnings from discontinued operations of $157.7 million or $0.91 EPS, which included spin-off costs of $14.0 million.

Dover will host a webcast of its third quarter 2014 conference call at 10:00 A.M. Eastern Time (9:00 A.M. Central Time) on Thursday, October 16, 2014. The webcast can be accessed on the Dover website at www.dovercorporation.com. The conference call will also be made available for replay on the website. Additional information on Dover’s third quarter results and its operating segments can also be found on the Company’s website.

About Dover:

Dover is a diversified global manufacturer with annual revenues of$8 billion. We deliver innovative equipment and components, specialty systems and support services through four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. Dover combines global scale with operational agility to lead the markets we serve.  Recognized for our entrepreneurial approach for nearly 60 years, our team of 28,000 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.” Additional information is available at www.dovercorporation.com.

Forward-Looking Statements:

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements relate to, among other things, operating and strategic plans, income, earnings, cash flows, changes in operations, industries in which Dover businesses operate, and operating improvements. Forward-looking statements may be indicated by words or phrases such as “anticipates,” “expects,” “believes,” “indicates,” “suggests,” “will,” “plans,” “supports,” “projects,” “should,” “would,” “could,” “forecast” and “management is of the opinion,” or the use of the future tense and similar words or phrases.

Forward-looking statements are subject to inherent risks and uncertainties that could cause actual results to differ materially from current expectations, including, but not limited to, the ability of Dover's businesses to expand into new geographic markets, particularly outside of North America and Europe; Dover's ability to identify and successfully consummate value-adding acquisition opportunities; Dover's ability to achieve expected savings from integration and synergies from existing businesses and future acquisitions, and other cost-control initiatives, such as lean and productivity programs; changes in customer demand or the impact of loss of a significant customer, or loss or non-renewal of significant contracts; the ability of Dover's businesses to develop and launch new products, timing of such launches and risks relating to market acceptance by customers; the relative mix of products and services which impacts margins and operating efficiencies; economic conditions generally and changes in economic conditions globally and in markets served by Dover businesses, including well activity, U.S. industrials activity and the status of economic recovery in Europe; the impact of natural disasters and their effect on global supply chains and energy markets; instability in countries where Dover conducts business; increased competition and pricing pressures in the markets served by Dover's businesses; the impact of loss of a single-source manufacturing facility on our businesses that use the facility; short-term capacity constraints; increases in the cost of raw materials; domestic and foreign governmental and public policy changes or developments, including environmental regulations, conflict minerals disclosure requirements, and tax policies (including domestic and international export subsidy programs, R&E credits and other similar programs); protection and validity of patent and other intellectual property rights; the impact of regulation and regulatory and legal matters and legal compliance risks; the impact of interest rate and currency exchange rate fluctuations; conditions and events affecting domestic and global financial and capital markets; possible future terrorist threats and their effect on the worldwide economy; and a downgrade in Dover's credit ratings which, among other matters, could make obtaining financing more difficult and costly. Dover refers you to the documents that it files from time to time with the Securities and Exchange Commission, such as its reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause its actual results to differ materially from its current expectations and from the forward-looking statements contained herein. Dover undertakes no obligation to update any forward-looking statement, except as required by law.

INVESTOR SUPPLEMENT - THIRD QUARTER2014

DOVER CORPORATION

CONSOLIDATED STATEMENTS OF EARNINGS

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

	Three Months Ended September 30,					Nine Months Ended September 30,
	2014			2013		2014			2013
Revenue	$	2,092,467		$	1,940,211	$	6,024,852		$	5,636,599
Cost of goods and services	1,290,625			1,183,864		3,690,384			3,442,816
Gross profit	801,842			756,347		2,334,468			2,193,783
Selling and administrative expenses	442,709			408,264		1,351,106			1,260,321
Operating earnings	359,133			348,083		983,362			933,462
Interest expense, net	31,239			30,236		95,871			90,752
Other (income) expense, net	(803		)	177		(6,489		)	(1,065		)
Earnings before provision for income taxes and discontinued operations	328,697			317,670		893,980			843,775
Provision for income taxes	95,872			91,435		267,388			192,269
Earnings from continuing operations	232,825			226,235		626,592			651,506
(Loss) earnings from discontinued operations, net	(981		)	42,879		(20,651		)	157,660
Net earnings	$	231,844		$	269,114	$	605,941		$	809,166
Basic earnings per common share:
Earnings from continuing operations	$	1.40		$	1.33	$	3.74		$	3.79
(Loss) earnings from discontinued operations, net	(0.01		)	0.25		(0.12		)	0.92
Net earnings	1.40			1.58		3.62			4.71
Weighted average shares outstanding	166,021			170,544		167,401			171,690
Diluted earnings per common share:
Earnings from continuing operations	$	1.38		$	1.31	$	3.69		$	3.75
(Loss) earnings from discontinued operations, net	(0.01		)	0.25		(0.12		)	0.91
Net earnings	1.38			1.56		3.57			4.65
Weighted average shares outstanding	168,343			172,734		169,761			173,870
Dividends paid per common share	$	0.40		$	0.375	$	1.15		$	1.075

DOVER CORPORATION

QUARTERLY SEGMENT INFORMATION

(unaudited)(in thousands)

	2014												2013
	Q1			Q2			Q3			Q3 YTD			Q1			Q2			Q3			Q3 YTD			Q4			FY 2013
REVENUE
Energy	$	478,773		$	481,016		$	507,334		$	1,467,123		$	462,679		$	465,906		$	467,688		$	1,396,273		$	457,580		$	1,853,853
Engineered Systems
Printing & Identification	263,533			287,284			290,635			841,452			237,869			250,616			256,565			745,050			276,672			1,021,722
Industrials	386,245			411,673			404,609			1,202,527			367,456			388,810			385,640			1,141,906			374,934			1,516,840
	649,778			698,957			695,244			2,043,979			605,325			639,426			642,205			1,886,956			651,606			2,538,562
Fluids	345,009			346,275			361,797			1,053,081			273,638			310,137			309,241			893,016			343,822			1,236,838
Refrigeration & Food Equipment	411,493			522,357			528,807			1,462,657			422,468			517,574			521,322			1,461,364			426,476			1,887,840
Intra-segment eliminations	(406		)	(867		)	(715		)	(1,988		)	(133		)	(632		)	(245		)	(1,010		)	(430		)	(1,440		)
Total consolidated revenue	$	1,884,647		$	2,047,738		$	2,092,467		$	6,024,852		$	1,763,977		$	1,932,411		$	1,940,211		$	5,636,599		$	1,879,054		$	7,515,653
NET EARNINGS
Segment Earnings:
Energy	$	118,968		$	114,991		$	122,738		$	356,697		$	118,708		$	109,662		$	119,086		$	347,456		$	112,193		$	459,649
Engineered Systems	92,320			112,422			119,316			324,058			83,283			102,804			111,850			297,937			101,511			399,448
Fluids	57,942			63,112			67,559			188,613			47,601			58,768			63,056			169,425			55,098			224,523
Refrigeration & Food Equipment	44,862			84,926			78,012			207,800			52,110			82,177			86,446			220,733			46,574			267,307
Total Segments	314,092			375,451			387,625			1,077,168			301,702			353,411			380,438			1,035,551			315,376			1,350,927
Corporate expense / other	30,521			29,107			27,689			87,317			33,632			34,860			32,532			101,024			28,752			129,776
Net interest expense	32,665			31,967			31,239			95,871			30,284			30,232			30,236			90,752			29,920			120,672
Earnings from continuing operations before provision for income taxes	250,906			314,377			328,697			893,980			237,786			288,319			317,670			843,775			256,704			1,100,479
Provision for income taxes	74,582			96,934			95,872			267,388			70,573			30,261			91,435			192,269			74,138			266,407
Earnings from continuing operations	176,324			217,443			232,825			626,592			167,213			258,058			226,235			651,506			182,566			834,072
(Loss) earnings from discontinued operations, net	(16,186		)	(3,484		)	(981		)	(20,651		)	42,790			71,991			42,879			157,660			11,397			169,057
Net earnings	$	160,138		$	213,959		$	231,844		$	605,941		$	210,003		$	330,049		$	269,114		$	809,166		$	193,963		$	1,003,129
SEGMENT OPERATING MARGIN
Energy	24.8		%	23.9		%	24.2		%	24.3		%	25.7		%	23.5		%	25.5		%	24.9		%	24.5		%	24.8		%
Engineered Systems	14.2		%	16.1		%	17.2		%	15.9		%	13.8		%	16.1		%	17.4		%	15.8		%	15.6		%	15.7		%
Fluids	16.8		%	18.2		%	18.7		%	17.9		%	17.4		%	18.9		%	20.4		%	19.0		%	16.0		%	18.2		%
Refrigeration & Food Equipment	10.9		%	16.3		%	14.8		%	14.2		%	12.3		%	15.9		%	16.6		%	15.1		%	10.9		%	14.2		%
Total Segment	16.7		%	18.3		%	18.5		%	17.9		%	17.1		%	18.3		%	19.6		%	18.4		%	16.8		%	18.0		%
DEPRECIATION AND AMORTIZATION EXPENSE
Energy	$	25,575		$	25,807		$	27,145		$	78,527		$	24,448		$	24,714		$	24,707		$	73,869		$	25,206		$	99,075
Engineered Systems	18,977			19,028			18,400			56,405			17,450			17,885			18,110			53,445			18,137			71,582
Fluids	16,366			15,308			14,019			45,693			11,361			11,570			11,790			34,721			14,091			48,812
Refrigeration & Food Equipment	17,212			17,451			17,073			51,736			16,585			16,611			16,962			50,158			17,070			67,228
Corporate	869			999			913			2,781			858			1,029			1,030			2,917			944			3,861
	$	78,999		$	78,593		$	77,550		$	235,142		$	70,702		$	71,809		$	72,599		$	215,110		$	75,448		$	290,558

DOVER CORPORATION

QUARTERLY SEGMENT INFORMATION

(continued)

(unaudited)(in thousands)

	2014												2013
	Q1			Q2			Q3			Q3 YTD			Q1			Q2			Q3			Q3 YTD			Q4			FY 2013
BOOKINGS
Energy	$	478,469		$	477,162		$	526,134		$	1,481,765		$	515,388		$	416,892		$	481,021		$	1,413,301		$	440,261		$	1,853,562
Engineered Systems
Printing & Identification	282,867			282,326			281,115			846,308			237,291			259,380			256,210			752,881			270,392			1,023,273
Industrials	427,557			409,815			386,325			1,223,697			405,555			396,886			344,764			1,147,205			371,797			1,519,002
Eliminations	(17		)	(17		)	(11		)	(45		)	(82		)	(129		)	(5		)	(216		)	279			63
	710,407			692,124			667,429			2,069,960			642,764			656,137			600,969			1,899,870			642,468			2,542,338
Fluids	362,943			375,009			350,853			1,088,805			303,609			298,817			307,729			910,155			351,767			1,261,922
Refrigeration & Food Equipment	493,731			542,810			459,099			1,495,640			482,742			515,320			433,426			1,431,488			450,850			1,882,338
Intra-segment eliminations	(506		)	(1,090		)	(737		)	(2,333		)	(560		)	(708		)	(416		)	(1,684		)	734			(950		)
Total consolidated bookings	$	2,045,044		$	2,086,015		$	2,002,778		$	6,133,837		$	1,943,943		$	1,886,458		$	1,822,729		$	5,653,130		$	1,886,080		$	7,539,210
BACKLOG
Energy	$	210,846		$	206,415		$	232,739					$	274,733		$	218,764		$	233,820					$	206,790
Engineered Systems
Printing & Identification	136,309			135,872			120,780						95,353			103,864			105,699						100,032
Industrials	414,979			413,119			392,985						415,478			421,833			379,456						374,008
	551,288			548,991			513,765						510,831			525,697			485,155						474,040
Fluids	328,617			348,508			323,424						222,255			228,212			228,880						310,330
Refrigeration & Food Equipment	431,298			450,065			376,141						417,246			412,366			324,042						347,004
Intra-segment eliminations	(374		)	(212		)	(302		)				(385		)	(526		)	(387		)				(592		)
Total consolidated backlog	$	1,521,675		$	1,553,767		$	1,445,767					$	1,424,680		$	1,384,513		$	1,271,510					$	1,337,572

DOVER CORPORATION

QUARTERLY EARNINGS PER SHARE

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

	2014												2013
	Q1			Q2			Q3			Q3 YTD			Q1		Q2		Q3		Q3 YTD		Q4		FY 2013
Basic earnings (loss) per common share:
Continuing operations	$	1.04		$	1.31		$	1.40		$	3.74		$	0.96	$	1.51	$	1.33	$	3.79	$	1.07	$	4.87
Discontinued operations	(0.10		)	(0.02		)	(0.01		)	(0.12		)	0.25		0.42		0.25		0.92		0.07		0.99
Net earnings	0.94			1.29			1.40			3.62			1.21		1.93		1.58		4.71		1.14		5.86
Diluted earnings (loss) per common share:
Continuing operations	$	1.02		$	1.29		$	1.38		$	3.69		$	0.95	$	1.49	$	1.31	$	3.75	$	1.06	$	4.81
Discontinued operations	(0.09		)	(0.02		)	(0.01		)	(0.12		)	0.24		0.42		0.25		0.91		0.07		0.97
Net earnings	0.93			1.27			1.38			3.57			1.20		1.91		1.56		4.65		1.13		5.78
Adjusted diluted earnings per common share (calculated below):
Continuing operations	$	1.01		$	1.29		$	1.35		$	3.65		$	0.93	$	1.13	$	1.25	$	3.31	$	1.02	$	4.33
Net earnings (loss) and average shares used in calculated earnings (loss) per share amounts are as follows:
Net earnings (loss):
Continuing operations	$	176,324		$	217,443		$	232,825		$	626,592		$	167,213	$	258,058	$	226,235	$	651,506	$	182,566	$	834,072
Discontinued operations	(16,186		)	(3,484		)	(981		)	(20,651		)	42,790		71,991		42,879		157,660		11,397		169,057
Net earnings	160,138			213,959			231,844			605,941			210,003		330,049		269,114		809,166		193,963		1,003,129
Average shares outstanding:
Basic	169,750			166,474			166,021			167,401			173,448		171,111		170,544		171,690		170,027		171,271
Diluted	172,013			168,857			168,343			169,761			175,567		173,097		172,734		173,870		172,265		173,547

Note:
Earnings from continuing operations are adjusted by discrete tax items and other one-time gains to derive adjusted earnings from continuing operations and adjusted diluted earnings per common share as follows:
	2014									2013
	Q1		Q2			Q3		Q3 YTD		Q1		Q2		Q3		Q3 YTD		Q4		FY 2013
Adjusted earnings from continuing operations:
Earnings from continuing operations	$	176,324	$	217,443		$	232,825	$	626,592	$	167,213	$	258,058	$	226,235	$	651,506	$	182,566	$	834,072
Gains (losses) from discrete and other tax items	2,541		(636		)	5,524		7,429		4,343		61,477		7,751		73,571		6,084		79,655
Other one-time gains, net of tax	—		—			—		—		—		—		2,866		2,866		—		2,866
Adjusted earnings from continuing operations	$	173,783	$	218,079		$	227,301	$	619,163	$	162,870	$	196,581	$	215,618	$	575,069	$	176,482	$	751,551
Adjusted diluted earnings per common share:
Earnings from continuing operations	$	1.02	$	1.29		$	1.38	$	3.69	$	0.95	$	1.49	$	1.31	$	3.75	$	1.06	$	4.81
Gains (losses) from discrete and other tax items	0.01		—			0.03		0.04		0.02		0.36		0.04		0.42		0.04		0.46
Other one-time gains, net of tax	—		—			—		—		—		—		0.02		0.02		—		0.02
Adjusted earnings from continuing operations	$	1.01	$	1.29		$	1.35	$	3.65	$	0.93	$	1.13	$	1.25	$	3.31	$	1.02	$	4.33
* Per share data may not add due to rounding.

DOVER CORPORATION

QUARTERLY FREE CASH FLOW

(unaudited)(in thousands)

	2014												2013
	Q1			Q2			Q3			Q3 YTD			Q1			Q2			Q3			Q3 YTD			Q4			FY 2013
Cash flow from operating activities	$	39,778		$	197,696		$	294,662		$	532,136		$	57,713		$	249,388		$	281,336		$	588,437		$	424,713		$	1,013,150
Less: Additions to property, plant and equipment	(33,402		)	(43,924		)	(35,313		)	(112,639		)	(26,326		)	(32,017		)	(39,644		)	(97,987		)	(47,579		)	(145,566		)
Free cash flow	$	6,376		$	153,772		$	259,349		$	419,497		$	31,387		$	217,371		$	241,692		$	490,450		$	377,134		$	867,584
Free cash flow as a percentage of earnings from continuing operations	3.6		%	70.7		%	111.4		%	66.9		%	18.8		%	84.2		%	106.8		%	75.3		%	206.6		%	104.0		%
Free cash flow as a percentage of revenue	0.3		%	7.5		%	12.4		%	7.0		%	1.8		%	11.2		%	12.5		%	8.7		%	20.1		%	11.5		%

EX-99.2

Earnings Conference Call Third Quarter 2014 October 16, 2014 – 9:00am CT

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 Corporation 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. 2

3 $0.50 $0.70 $0.90 $1.10 $1.30 $1.50 Q1* Q2* Q3* Q4* Q1* Q2 Q3* Q3 2014 Performance Adjusted Earnings Per Share* (continuing operations) Q3 Q3/Q3 * Excludes discrete & other tax benefits of $0.02 in Q1 2013, $0.36 in Q2 2013, $0.04 in Q3 2013, $0.04 in Q4 2013, $0.01 in Q1 2014, and $0.03 in Q3 2014; excludes other one-time gains of $0.02 in Q3 2013 (a) See Press Release for free cash flow reconciliation 3 Quarterly Comments 2013 2014  Solid revenue growth is led by Fluids, Engineered Systems and Energy  United States, Europe and Asia markets were solid; Canada and Brazil declined  Segment margin of 18.5% was impacted 50 bps by the impact of recent acquisitions  Bookings growth of 10% is broad-based across all segments  Book-to-bill of 0.96 is seasonally normal Revenue $2.1B 8% $6.0B 7% Adj. EPS (cont.) $1.35 8% $3.65 10% Bookings $2.0B 10% $6.1B 9% Seg. Margins 18.5% -110 bps 17.9% -50 bps Organic Rev. 4% 4% Acq. Growth 4% 3% FCF (a) $259M 7% $419M -14% 9M 9M/9M

4 Revenue Q3 2014 Energy Engineered Systems Fluids Refrigeration & Food Equip Total Organic 5% 4% 6% 1% 4% Acquisitions 3% 4% 11% - 4% Currency - - - - - Total 8% 8% 17% 1% 8% 9M 2014 Energy Engineered Systems Fluids Refrigeration & Food Equip Total Organic 4% 5% 7% - 4% Acquisitions 2% 3% 10% - 3% Currency -1% - 1% - - Total 5% 8% 18% - 7%

5 Printing & ID Industrial $410 $386 $477 $526 $282 $281 $375 $351 $543 $459 $0 $200 $400 $600 $800 DE Q2 DE Q3 DES Q2 DES Q3 DF Q2 DF Q3 DRE Q2 DRE Q3 Sequential Results – Q2 2014 → Q3 2014 5 $412 $405 $481 $507 $287 $291 $346 $362 $522 $529 $0 $200 $400 $600 $800 DE Q2 DE Q3 DES Q2 DES Q3 DF Q2 DF Q3 DRE Q2 DRE Q3 Revenue +5% -15% +1% -6% +4% -4% ≈ 0% +10% Bookings

6 Energy  Drilling & Production revenue growth was strong in core U.S. markets; partially offset by tough comps related to Australia and lower Canada activity  Bearings & Compression results reflect improving compression end-markets  Overall margin remains strong at 24.2% and includes 100 bps dilutive impact of recent acquisitions  Bookings growth of 9% was broad-based  Book-to-bill at 1.04 6 Q3 2014 Q3 2013 % Change Revenue $507 $468 8% Earnings $123 $119 3% Margin 24.2% 25.5% -130 bps Bookings $526 $481 9% Revenue by End-Market % of Q3 Revenue Y / Y Growth Drilling & Production 81% 9% Bearings & Compression 19% 5% $ in millions

7 Engineered Systems  Revenue growth is broad- based – Printing & Identification had very strong results in the US and from MS Printing – Industrial growth is led by auto-related businesses  Margin was solid at 17.2%; the benefits of productivity and volume leverage largely offset business mix (lower military activity)  Broad-based bookings growth of 11%  Book-to-bill of 0.96 7 Q3 2014 Q3 2013 % Change Revenue $695 $642 8% Earnings $119 $112 7% Margin 17.2% 17.4% -20 bps Bookings $667 $601 11% Revenue by End-Market % of Q3 Revenue Y / Y Growth Printing & Identification 42% 13% Industrial 58% 5% $ in millions

8 Fluids  Revenue growth driven by strong demand in Fluid Transfer and acquisitions  Fluid transfer benefitting from increased regulatory activity around the safe transport of fuels and flammable materials  Pumps results driven by North America and new products  Segment margin of 18.7% impacted by recent acquisitions  Bookings activity remains strong, especially in Fluid Transfer  Book-to-bill at 0.97 8 Q3 2014 Q3 2013 % Change Revenue $362 $309 17% Earnings $ 68 $ 63 7% Margin 18.7% 20.4% -170 bps Bookings $351 $308 14% Revenue by End-Market % of Q3 Revenue Y / Y Growth Pumps 44% 13% Fluid Transfer 56% 21% $ in millions

9 Refrigeration & Food Equipment  Revenue growth driven by Refrigeration markets, partially offset by customer push-outs and the timing of Belvac shipments in Food Equipment  Margin performance reflects the impact of unanticipated supply chain costs, inefficiencies connected with customer push-outs, and customer mix  Bookings and backlog growth is seasonally strong  Book-to-bill at a seasonally strong 0.87 9 Q3 2014 Q3 2013 % Change Revenue $529 $521 1% Earnings $ 78 $ 86 -10% Margin 14.8% 16.6% -180 bps Bookings $459 $433 6% Revenue by End-Market % of Q3 Revenue Y / Y Growth Refrigeration 80% 3% Food Equipment 20% -5% $ in millions

10 Q3 2014 Overview 10 Q3 2014 Net Interest Expense $31 million, up $1 million from last year and in- line with expectations Corporate Expense $28 million, down $5 million from last year, generally in-line with expectations Effective Tax Rate (ETR) Q3 rate was 30.8%, excluding $0.03 discrete tax benefit; in-line with expectations Capex $35 million, below prior expectations due to timing of projects Share Repurchases Repurchased 857K shares ($75M) in quarter

11 FY 2014 Guidance  Revenue – Organic revenue: ≈ 4% – Completed acquisitions: ≈ 4% – Total revenue: ≈ 8%  Corporate expense: ≈ $120 million  Interest expense: ≈ $130 million  Full-year tax rate: ≈ 31.0%  Capital expenditures: ≈ 2.3% of revenue  FY free cash flow: ≈ 11% of revenue 2014 Organic growth rate Energy 4% - 5% Engineered Systems 4% - 5% Fluids 5% - 6% Refrigeration & Food Equipment ≈ 1% Total organic ≈ 4% Acquisitions ≈ 4% (a) Total growth ≈ 8% (a) Reflects completed acquisitions

12 2014 EPS Guidance Bridge – Continuing Ops  2013 EPS – Continuing Ops $ 4.81 – Less 2013 tax benefits(1): (0.46) – Other one-time gains(2): (0.02)  2013 Adjusted EPS $ 4.33 – Volume, mix, price (inc. FX): 0.26 - 0.29 – Net benefits of productivity: 0.16 - 0.18 – Acquisitions(3): (0.01) - 0.00 – Investment / Compensation: (0.16 - 0.18) – Corporate expenses: 0.04 – Interest / Shares / Tax rate (net): 0.13 - 0.14  2014 EPS – Adj. Continuing Ops(4) $4.75 - $4.80 (1) $0.02 in Q1 2013 , $0.36 in Q2 2013, $0.04 in Q3 2013, $0.04 in Q4 2013 (2) $0.02 in Q3 2013 (3) Includes the dilutive impact of acquisitions closed in Q3 2014 and Q4 2014 (4) Excludes discrete and other tax benefits of $0.01 in Q1 2014 and $0.03 in Q3 2014