Flowserve Corp

FLS

Equity

ISIN US34354P1057 / Valor 668463

New York Stock Exchange, Inc (2024-12-26)

USD 58.46+0.02%

Flowserve Corp
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About company

Flowserve Corp is a global provider of fluid motion and control products, offering a wide range of solutions for various industries such as oil and gas, power generation, chemical processing, and water management. The company's products include pumps, valves, seals, and automation technologies that help customers improve efficiency, reliability, and safety in their operations. With a strong focus on innovation and customer service, Flowserve has established itself as a leader in the fluid handling industry, serving customers worldwide.

Summarized from source with an LLMView SourceSector: Industrials

EPS Growth

Flowserve Corp reported a significant increase in earnings per share (EPS) for the second quarter of 2024. The reported EPS was $0.55, while the adjusted EPS was $0.73, marking an increase of 41% and 40%, respectively, compared to the same quarter in 2023. This growth was attributed to strong operational execution.

Record Bookings

During the second quarter of 2024, Flowserve Corp achieved total bookings of $1.25 billion, the highest quarterly level since 2014. This includes record aftermarket activity of more than $610 million, reflecting a 12.2% increase from the previous year, or 13.0% on a constant currency basis.

Sales Performance

Flowserve Corp's sales for the second quarter of 2024 reached $1.16 billion, representing a 7.1% increase from the same period in 2023. On a constant currency basis, sales were up by 7.7%. Original equipment sales rose by 9.4%, while aftermarket sales increased by 5.0%.

Margin Improvements

The company reported improved margins for the second quarter of 2024. The adjusted gross margin was 32.3%, and the adjusted operating margin was 12.5%, showing an increase of 200 and 210 basis points, respectively, compared to the previous year.

Revised EPS Guidance

Flowserve Corp raised its full-year 2024 adjusted EPS guidance to a range of $2.60 to $2.75, reflecting confidence in its operational performance and market outlook. This revision underscores the company's commitment to delivering long-term value for its stakeholders.

Summarized from source with an LLMView Source

Key figures

40.0%1Y

93.4%3Y

17.3%5Y

Performance

24.5%1Y

29.7%3Y

39.3%5Y

Volatility