Flowserve Corporation (FLS) has been benefiting from robust bookings driven by strong maintenance, repair, operations and aftermarket activity. Solid booking levels highlight strength across the company’s end markets. FLS’ Diversify, Decarbonize and Digitize strategy has also been supporting its growth. Notably, its fourth-quarter bookings of $1.04 billion marked the eighth consecutive quarter of more than $1 billion bookings.Strength across its original equipment and aftermarket businesses are supporting b ...

A month has gone by since the last earnings report for Flowserve (FLS) . Shares have added about 5.8% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Flowserve due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Flowserve Q4 Earnings & Revenues Top Estimates, Up Y/YFl ...

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.Zacks Premium includes access to the Zacks Style Sc ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.It also includes access to the Zacks Style Scores.What are the Zacks Style Scores?The Zacks Style Sco ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.Zacks Premium also includes the Zacks Style Scores.What are the Zacks Style Scores?Develope ...

Flowserve Corporation (FLS) is gaining from record levels of booking driven by strong maintenance, repair, operations, and aftermarket (MRO) activity. Solid booking levels highlight the strength across FLS’ end markets. The company’s Diversify, Decarbonize and Digitize strategy also supports its strong booking levels. Flowserve’s fourth-quarter bookings of $1.04 billion marked the eighth consecutive quarter of more than $1 billion bookings.Increased revenues in the original equipment and aftermarket busines ...

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.Zacks Premium includes access to the Zacks Style Scores as we ...

Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Flowserve (FLS) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Flowserve is one of 227 companies in the Industrial Products group. The Industrial Products group currently sits at #3 within the Zacks Sector Rank. The ...

Financial Data and Key Metrics Changes - For the full year 2023, the company achieved nearly 20% year-over-year revenue growth, with revenues exceeding $4.3 billion [23][32] - Adjusted earnings per share (EPS) increased by over 90%, reaching $2.10 for the full year [23][24] - Operating cash flow improved by over $360 million compared to 2022, totaling $326 million for the year [13][32] Business Line Data and Key Metrics Changes - Fourth quarter sales reached nearly $1.2 billion, with adjusted operating margins expanding to 10.5% [4][8] - The aftermarket business generated nearly $2.3 billion in bookings for the full year, up 5% year-over-year [26] - The Flow Control Division (FCD) achieved its highest quarterly adjusted gross margins since 2019 at 32.2%, a 310 basis point improvement year-over-year [10] Market Data and Key Metrics Changes - The total project funnel increased by 13% year-over-year, with the oil and gas funnel up 25%, driven by mid and downstream activity in the Middle East [6][9] - Notable year-over-year sales growth was observed in the Middle East and Africa (27%), North America (14%), and Europe (13%) [9] - The energy transition project funnel increased nearly 25% year-over-year, driven by decarbonization activities [27] Company Strategy and Development Direction - The company is focused on its 3D growth strategy, which aims to drive accelerated growth in diverse markets, including new energy applications [37][38] - The company plans to invest in both internal programs and inorganic growth opportunities, with capital expenditures expected between $75 million and $85 million [15] - The strategic focus includes enhancing the aftermarket capture rates and expanding the installed base to support long-term growth [65][111] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operating momentum and expects full-year revenue growth of 4% to 6% in 2024, with adjusted EPS guidance between $2.40 to $2.60 [14][19] - The company anticipates a book-to-bill ratio over 1x, which will help build backlog and support multi-year revenue growth [14][19] - Management noted that while project delays occurred, they remain optimistic about the viability of these projects in 2024 [38][108] Other Important Information - The company generated $195 million in operating cash flow during the fourth quarter, a $125 million increase year-over-year [13][29] - A 5% increase in the dividend to $0.21 per share was authorized by the Board, along with a replenishment of the share repurchase capacity to $300 million [35][97] - The adjusted tax rate for the full year was 15.1%, which was lower than expected due to the release of valuation allowances on certain foreign deferred tax assets [33] Q&A Session Summary Question: What is the outlook for bookings growth and project conversion? - Management indicated strong growth in the aftermarket, expecting continued demand, while the project funnel is up 13%, with oil and gas projects up 25% [43][44] Question: How does the competitive landscape look currently? - The competitive environment has improved, with more discipline among competitors compared to two years ago, although challenges remain [72][73] Question: What are the expectations for cash generation and capital allocation in 2024? - The company expects to generate strong cash flow and is focused on investing in growth opportunities while also considering share buybacks [97][98]

Flowserve Corporation’s (FLS) fourth-quarter 2023 adjusted earnings (excluding 21 cents from non-recurring items) of 68 cents per share beat the Zacks Consensus Estimate of 61 cents. The bottom line increased 7.9% year over year. Results were primarily benefited from higher revenues, partially offset by an increase in operating costs and expenses.Flowserve’s total sales of $1,165.2 million beat the consensus estimate of $1,136 million. The top line increased 12.1% year over year. Sales increased 10.1% on a ...