This quarterly report represents an earnings surprise of 15.87%. 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 $0.47 per share when it actually produced earnings of $0.58, delivering a surprise of 23.40%. Flowserve, which belongs to the Zacks Manufacturing - General Industrial industry, posted revenues of $1.16 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.09%. This compa ...

Exhibit 99.1 DALLAS, July 29, 2024 – 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 second quarter ended June 30, 2024. • Second quarter 2024 Reported EPS includes after-tax adjusted expenses of $23.7 million, comprised of realignment charges and write-down of investment among other items • Total bookings were $1.25 billion, up $135.1 million or 12.2%. On a constant currency basi ...

FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to FLOWSERVE CORPORATION (Exact name of registrant as specified in its charter) | --- | --- | --- | |----------------------------------------------------------------|----------------|-------------------------------------------| | | | | | Secu ...

Wall Street analysts expect Flowserve (FLS) to post quarterly earnings of $0.63 per share in its upcoming report, which indicates a year-over-year increase of 21.2%. Revenues are expected to be $1.12 billion, up 3.9% from the year-ago quarter. Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong corr ...

The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on April 29, 2024, Flowserve reported EPS of $0.58 versus consensus estimate of $0.47 while it beat the consensus revenue estimate by 4.81%. Flowserve may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the c ...

The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. As such, the Zacks rating upgrade for Flowserve is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Flowserve imply an imp ...

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits. Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price level ...

Image Source: Zacks Investment Research Let's delve into the factors that have been aiding the firm for a while now. Flowserve's first-quarter 2024 bookings of $1.04 billion marked the ninth consecutive quarter of more than $1 billion bookings. Exiting the first quarter, its backlog level totaled $2.6 billion. Supported by strength across its businesses, the company expects revenues to increase in the band of 4-6% year over year in 2024. Shareholder-Friendly Moves: Management remains focused on rewarding it ...

Based in Germany, Heide is the northernmost crude oil refinery in the region. The company is engaged in manufacturing petroleum products including petrol, diesel and aviation fuel. It also produces light heating oil and base materials for the chemical industry. Some other top-ranked companies from the Industrial Products sector are discussed below. Flowserve Corporation (FLS) recently collaborated with Heide Refinery to enhance the latter's energy efficiency and cost savings by integrating FLS' Energy Advan ...

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Flowserve (FLS) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question. Flowserve is a member of our Industrial Products group, which includes 222 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks ...