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 ...

19 Q4 2023 Earnings Conference Call FLOWSERVE FULL YEAR 2023 AND 2022 SEGMENT FINANCIAL RESULTS | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------|---------------------------|----------------------------------------------------------|-------|---------------------------------|---------------------------------------------------------|---------------------------|-------|------------------------------------------------------ ...

Flowserve Corporation (NYSE:FLS) Q4 2023 Earnings Conference Call February 21, 2024 11:00 AM ET Company Participants John Roueche - Vice President, Investor Relations and Treasurer Scott Rowe - President and Chief Executive Officer Amy Schwetz - Senior Vice President and Chief Financial Officer Conference Call Participants Nathan Jones - Stifel Mike Halloran - Baird Sabrina Abrams - Bank of America Joe Giordano - TD Cowen Deane Dray - RBC Capital Markets Operator Good day and welcome to the Fourth Quarter 2 ...

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 ...

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 ...