secwatch.observer — SEC 8-K summary
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Issuer:     FLOWSERVE CORP (FLS)
CIK:        0000030625
Form:       8-K
Filed at:   2022-05-02T23:59:59+00:00
Accession:  0001157523-22-000525
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Flowserve Q1 loss per share $0.12; cuts 2022 EPS guidance on Russian exit and supply chain issues
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- Reported Q1 loss per share $0.12; adjusted EPS $0.07; sales $821.1M, down 4.2% YoY.
- Bookings of $1.09B up 14.9% YoY; highest since Q2 2019; backlog $2.23B highest since Q3 2015.
- Exiting Russian operations, recording $20.2M pre-tax charge; Russian work was 1-2% of revenue.
- Reduced 2022 revenue growth guidance to 5-7% (prior 7-9%); adjusted EPS to $1.50-$1.70 (prior $1.70-$1.90).
- CEO cites supply chain delays, labor availability, and inflation as margin headwinds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/30625/000115752322000525/0001157523-22-000525-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/30625/000115752322000525/a52704401.htm
  HTML page:      https://secwatch.observer/filing/0001157523-22-000525

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