Flowserve Q2 bookings up 9.6% to $1.04B; adj EPS $0.30 beats expectations; affirms 2022 adj EPS guidance

FLOWSERVE CORP

2022-Q2 EPS reported $0.22 revenue$1,703,280,000

Bookings $1.04B +9.6% YoY (+14.5% CC); backlog $2.32B highest since Q3 2015.
Reported EPS $0.34 includes $10.1M below-the-line FX gain; adjusted EPS $0.30 beats expectations.
Sales $882.2M down 1.8% (up 2.8% CC); sequential revenue growth 7.4% drove 60% incremental adj. op. margin.
Affirmed 2022 adj. EPS guidance; warns if USD persists strong, full-year results at low end of ranges.
Expects exit Q4 2022 adj. operating margin in 12-14% range.

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