Flowserve (NYS: FLS) reported earnings on July 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Flowserve beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share expanded.
Gross margins contracted, operating margins improved, net margins increased.
Flowserve tallied revenue of $1.18 billion. The 10 analysts polled by S&P Capital IQ looked for a top line of $1.17 billion on the same basis. GAAP reported sales were 5.0% higher than the prior-year quarter's $1.13 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.98. The 10 earnings estimates compiled by S&P Capital IQ anticipated $1.91 per share. GAAP EPS of $1.98 for Q2 were 13% higher than the prior-year quarter's $1.76 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 32.5%, 30 basis points worse than the prior-year quarter. Operating margin was 13.6%, 150 basis points better than the prior-year quarter. Net margin was 9.1%, 30 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.18 billion. On the bottom line, the average EPS estimate is $2.20.
Next year's average estimate for revenue is $4.76 billion. The average EPS estimate is $8.58.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 842 members out of 862 rating the stock outperform, and 20 members rating it underperform. Among 183 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 181 give Flowserve a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Flowserve is buy, with an average price target of $145.00.
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The article Flowserve Beats on Both Top and Bottom Lines originally appeared on Fool.com.
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