The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Flowserve met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share expanded.
Gross margins dropped, operating margins grew, net margins contracted.
Flowserve logged revenue of $1.17 billion. The 11 analysts polled by S&P Capital IQ looked for a top line of $1.16 billion on the same basis. GAAP reported sales were 3.9% higher than the prior-year quarter's $1.12 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 $2.07. The 12 earnings estimates compiled by S&P Capital IQ anticipated $2.07 per share. GAAP EPS of $2.07 for Q3 were 7.8% higher than the prior-year quarter's $1.92 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 33.4%, 20 basis points worse than the prior-year quarter. Operating margin was 13.9%, 50 basis points better than the prior-year quarter. Net margin was 9.1%, 50 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.33 billion. On the bottom line, the average EPS estimate is $2.80.
Next year's average estimate for revenue is $4.74 billion. The average EPS estimate is $8.51.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 835 members out of 856 rating the stock outperform, and 21 members rating it underperform. Among 185 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 184 give Flowserve a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Flowserve is outperform, with an average price target of $148.27.
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