Flowserve (FLS) reported $1.17 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 12.2%. EPS of $0.68 for the same period compares to $0.63 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.14 billion, representing a surprise of +2.56%. The company delivered an EPS surprise of +11.48%, with the consensus EPS estimate being $0.61.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Str ...

Flowserve (FLS) came out with quarterly earnings of $0.68 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.63 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.48%. A quarter ago, it was expected that this company that makes pumps, valves and other parts for the oil and gas industries would post earnings of $0.41 per share when it actually produced earnings of $0.50, deliveri ...

DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced its financial results for the fourth quarter and full-year ended December 31, 2023. Fourth Quarter 2023 Highlights (all comparisons to the 2022 fourth quarter, unless otherwise noted) Reported EPS of $0.47 and Adjusted EPS1 of $0.68, compared to $0.92 and $0.63, respectively Fourth quarter 2023 Reported EPS includes after-tax adjus ...

Financial Performance - Bookings in 2023 decreased by $273.5 million, or 8.5%, compared to 2022, driven by reduced orders in oil and gas, power generation, chemical, general, and water industries[148] - FPD segment bookings in 2023 were $2,941.2 million, with 40% from oil and gas, 27% from general industries, 18% from chemical, 10% from power generation, and 5% from water management[148] - FPD segment gross profit margin improved to 29.6% in 2023, up from 28.9% in 2022[148] - Foreign currency translation adjustments resulted in a net loss of $30.8 million in 2023, primarily due to exchange rate movements of the Euro, British pound, Colombian peso, and Mexican peso[231] - A 10% change in foreign currency exchange rates in 2023 would have impacted net earnings by approximately $1 million[232] Global Operations and Manufacturing - The company operates 35 manufacturing facilities worldwide, with 10 in Europe, 11 in North America, 8 in Asia Pacific, and 6 in Latin America[147] - The company has five unconsolidated joint ventures in Chile, India, Saudi Arabia, South Korea, and the United Arab Emirates, supporting market access and manufacturing capacity[575] Decarbonization and Sustainability - The company's decarbonization strategy focuses on energy efficiency, carbon reduction, and operational cost mitigation, leveraging technologies in nuclear, LNG, hydrogen, carbon capture, and renewables[551] Digital Transformation - The company's digitization efforts include the implementation of RedRaven, an IIoT solution for equipment monitoring, to optimize flow loop operations and predict downtime[553] Financial Agreements and Adjustments - The company amended its Credit Agreement on February 3, 2023, replacing LIBOR references with SOFR as the benchmark reference rate[233]

Flowserve Corporation (FLS) is slated to release fourth-quarter 2023 results on Feb 20, after market close.The Zacks Consensus Estimate for the company’s fourth-quarter earnings has remained steady in the past 60 days. The company has an impressive earnings surprise history, having outperformed the consensus estimate in each of the preceding four quarters, the average beat being 27.3%.Let’s see how things have shaped up for Flowserve this earnings season.Factors to NoteFlowserve’s Pump Division segment’s fo ...

ROCHESTER, N.Y.--(BUSINESS WIRE)--Monro, Inc. (Nasdaq: MNRO), a leading provider of automotive undercar repair and tire services, today announced that Thomas B. Okray has been appointed to the Company’s Board of Directors, effective immediately. Mr. Okray will serve on the Executive Committee. Mr. Okray is a seasoned executive with significant financial and operational expertise in the auto industry and broader industrials segment, including a 26-year tenure at General Motors and subsequent senior finance ...

In its upcoming report, Flowserve (FLS) is predicted by Wall Street analysts to post quarterly earnings of $0.61 per share, reflecting a decline of 3.2% compared to the same period last year. Revenues are forecasted to be $1.14 billion, representing a year-over-year increase of 9.4%.The consensus EPS estimate for the quarter has been revised 0.7% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during th ...

The market expects Flowserve (FLS) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 20, 2024, might help the stock move higher if these key numbers are ...

Have you been paying attention to shares of Flowserve (FLS) ? Shares have been on the move with the stock up 4.3% over the past month. The stock hit a new 52-week high of $42.23 in the previous session. Flowserve has gained 1.9% since the start of the year compared to the 3.4% move for the Zacks Industrial Products sector and the 4.1% return for the Zacks Manufacturing - General Industrial industry.What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, as it has ...

DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that Scott Rowe, President and Chief Executive Officer, will participate virtually in a fireside chat at the 34th Annual Pump, Valve and Water Symposium in New York City at 11:30 am ET on February 22, 2024. A webcast of Mr. Rowe’s discussion will be available for shareholders and other interested parties at Flowserve’s Investors Page. In ...