earnings
confidence high
sentiment positive
materiality 0.85
Flowserve Q2 EPS $0.73 adjusted, up 40% YoY; raises FY2024 adjusted EPS guide to $2.60-$2.75
FLOWSERVE CORP
2024-Q2 EPS reported
$1.11
- Reported EPS $0.55 vs $0.39; adjusted EPS $0.73 vs $0.52; 41% and 40% increases YoY.
- Total bookings $1.25B (highest since 2014) up 12.2% YoY; record aftermarket bookings >$610M.
- Sales $1.16B up 7.1% YoY; adjusted gross margin 32.3% (+200bps) and operating margin 12.5% (+210bps).
- FY2024 adjusted EPS guidance raised to $2.60-$2.75 from $2.50-$2.70; revenue guidance reaffirmed 4-6%.