Flowserve warns Q3 EPS to be hit by 18-22 cents due to ERP issues and higher expenses

FLOWSERVE CORP

ERP implementation challenges at North American facilities expected to reduce Q3 EPS by 10-12 cents.
Unanticipated corporate expenses, including actuarial liability accruals, expected to reduce Q3 EPS by 8-10 cents.
Total negative impact on reported and adjusted EPS estimated at 18-22 cents for Q3 2022.
Bookings expected to exceed $1 billion for third consecutive quarter, with supportive end-markets.
Flowserve expects to largely recover lost volumes in future periods; Q4 sequential improvement anticipated.

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