Profile
Sector:
IndustrialsIndustry:
Specialty Industrial MachineryCountry:
United StatesIPO:
17 March 1980Website:
http://www.flowserve.comNext earnings report:
20 February 2025Last dividends:
27 September 2024Next dividends:
N/APrice
after hours | 24 min agoAnalysts recommendations
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FLS Latest News
Flowserve is yet another good example of why index exclusions tend to outperform index inclusions. Although the stock has skyrocketed over the past two years, the long-term opportunity has not been diminished. I show why the company is well-positioned to capitalize on expected oil & gas production increases over the coming years.
Flowserve Corporation (NYSE:FLS ) Q3 2024 Results Conference Call October 29, 2024 10:00 AM ET Company Participants Brian Ezzell - VP, IR, Treasurer and Corporate Finance Scott Rowe - President and Chief Executive Officer Amy Schwetz - Senior Vice President and Chief Financial Officer Conference Call Participants Andy Kaplowitz - Citigroup Nathan Jones - Stifel Deane Dray - RBC Capital Markets Mike Halloran - Baird Andrew Obin - Bank of America Joe Giordano - TD Cowen Damian Karas - UBS Saree Boroditsky - Jefferies Joe Ritchie - Goldman Sachs Eric Look - Mizuho Operator Ladies and gentlemen, good day, and welcome to the Q3 2024 Flowserve Corporation Earnings Conference Call. Today's conference is being recorded.
FLS' third-quarter 2024 revenues increase 3.5% year over year, driven by the impressive performance of its Flowserve Pumps Division and Flow Control Division units.
Although the revenue and EPS for Flowserve (FLS) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Flowserve (FLS) came out with quarterly earnings of $0.62 per share, missing the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.50 per share a year ago.
DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS) (“Flowserve” or the “Company”), a leading provider of flow control products and services for the global infrastructure markets, today announced its financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Highlights (all comparisons to the 2023 third quarter, unless otherwise noted) Total bookings were $1.20 billion, up $136.1 million or 12.7%. On a constant currency basis4, total bookings were up $142.8 mill.
Does Flowserve (FLS) have what it takes to be a top stock pick for momentum investors? Let's find out.
Flowserve, a $7.2 billion leader in flow control systems, is essential for optimizing fluid management in key industries like oil and gas, water management, and power production. FLS's Q2 results reveal topline growth to $1.16 billion, driven by strong demand in oil and gas, chemicals, and power generation, with a robust backlog of $2.7 billion. Internally, margin expansion continues, supported by the Company's 'excellence program,' aiming for a 200 basis point improvement by 2027. This is coupled with a sound strategy of widening the equity-debt gap.
I expect the MOGAS acquisition and the strong revenue and profitability growth to sustain Flowserve's momentum, despite cash flow concerns. Free cash flow dropped by 480% in Q2, but management projects 80%+ cash flow conversion by year-end. Net debt declined 11%, showing a healthy balance sheet with decent liquidity ratios, including a current ratio of 2.0 and a quick ratio of 1.4.
FLS' acquisition of MOGAS is set to strengthen its product offerings and boost its position in the mining, mineral extraction and process industries.
What type of business is Flowserve?
Flowserve Corporation is one of the leading companies in the production of industrial equipment for flow control, based in Irving, Texas. The company was created in 1997 as a result of the merger of two leading companies in fluid motion and control - BW/IP and Durco International. The FPD segment manufactures and distributes custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, parts, and related aftermarket services. The FCD segment produces a wide range of engineering and industrial valves, actuators, control instruments, and related equipment, as well as provides equipment maintenance services for flow control systems, including advanced diagnostics, upgrade programs, and on-site processing capabilities.
What sector is Flowserve in?
Flowserve is in the Industrials sector
What industry is Flowserve in?
Flowserve is in the Specialty Industrial Machinery industry
What country is Flowserve from?
Flowserve is headquartered in United States
When did Flowserve go public?
Flowserve initial public offering (IPO) was on 17 March 1980
What is Flowserve website?
https://www.flowserve.com
Is Flowserve in the S&P 500?
No, Flowserve is not included in the S&P 500 index
Is Flowserve in the NASDAQ 100?
No, Flowserve is not included in the NASDAQ 100 index
Is Flowserve in the Dow Jones?
No, Flowserve is not included in the Dow Jones index
When was Flowserve the previous earnings report?
No data
When does Flowserve earnings report?
The next expected earnings date for Flowserve is 20 February 2025