Company Performance - Flowserve reported quarterly earnings of $0.72 per share, exceeding the Zacks Consensus Estimate of $0.59 per share, and up from $0.58 per share a year ago, adjusted for non-recurring items [1] - The earnings surprise was 22.03%, while the previous quarter saw a negative surprise of -9.09% with actual earnings of $0.70 compared to an expected $0.77 [2] - The company achieved revenues of $1.14 billion for the quarter, surpassing the Zacks Consensus Estimate by 3.35%, and up from $1.09 billion year-over-year [3] Market Outlook - Flowserve shares have declined approximately 22.4% since the beginning of the year, contrasting with the S&P 500's decline of -6% [4] - The current consensus EPS estimate for the upcoming quarter is $0.83 on revenues of $1.22 billion, and for the current fiscal year, it is $3.11 on revenues of $4.76 billion [8] - The Zacks Industry Rank places Manufacturing - General Industrial in the bottom 40% of over 250 Zacks industries, indicating potential challenges for stock performance [9] Earnings Estimate Revisions - The trend for earnings estimate revisions for Flowserve is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market [7] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [6]