Flowserve Q2 sales fall on Middle East conflict impact
FLS•Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
- Wall Street's median 12-month price target for Flowserve Corp is $91.00, about 23.9% above its July 28 closing price of $73.43
- The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 17 three months ago
Quarterly results
- U.S. flow control supplier's Q2 sales slightly beat analyst expectations
- Adjusted EPS for Q2 rose 4% yr/yr
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Sales | Slight Beat* | $1.17 bln | $1.16 bln (11 Analysts) |
| Q2 Gross Profit | $384.73 mln | ||
| Q2 Operating Income | $151.42 mln | ||
| Q2 Pretax Profit | $118.66 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Bookings and margins
- STRONG BOOKINGS - Co reported 26% yr/yr increase in total bookings, with record aftermarket bookings and 44% growth in original equipment bookings
