Flowserve
The 10-second takeaway
For the quarter ended March 31 (Q1), Flowserve met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew slightly. GAAP earnings per share increased significantly.
Gross margins increased, operating margins shrank, net margins increased.
Revenue details
Flowserve reported revenue of $1.10 billion. The 12 analysts polled by S&P Capital IQ looked for a top line of $1.11 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $2.01. The 13 earnings estimates compiled by S&P Capital IQ averaged $1.95 per share. GAAP EPS of $2.01 for Q1 were 19% higher than the prior-year quarter's $1.69 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 34.0%, 60 basis points better than the prior-year quarter. Operating margin was 12.7%, 10 basis points worse than the prior-year quarter. Net margin was 8.9%, 20 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Looking ahead
Next quarter's average estimate for revenue is $1.23 billion. On the bottom line, the average EPS estimate is $2.45.
Next year's average estimate for revenue is $4.98 billion. The average EPS estimate is $10.23.
Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 819 members out of 839 rating the stock outperform, and 20 members rating it underperform. Among 183 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 182 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 $179.23.
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