Flowserve (FLS) Misses Q3 Earnings Estimates

Core Viewpoint - Flowserve (FLS) reported quarterly earnings of $0.62 per share, missing the Zacks Consensus Estimate of $0.67 per share, but showing an increase from $0.50 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was -7.46%, while the previous quarter saw a positive surprise of 15.87% with actual earnings of $0.73 per share against an expectation of $0.63 [2] - Flowserve's revenues for the quarter ended September 2024 were $1.13 billion, exceeding the Zacks Consensus Estimate by 0.52%, and up from $1.09 billion year-over-year [3] - The company has surpassed consensus revenue estimates four times over the last four quarters [3] Stock Performance - Flowserve shares have increased approximately 27.8% since the beginning of the year, outperforming the S&P 500's gain of 21.8% [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.79 on revenues of $1.22 billion, and for the current fiscal year, it is $2.78 on revenues of $4.6 billion [8] - The estimate revisions trend for Flowserve is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [7] Industry Context - The Manufacturing - General Industrial industry, to which Flowserve belongs, is currently ranked in the bottom 45% of over 250 Zacks industries, which may impact stock performance [9]