Flowserve (NYSE: FLS) reported Q4 EPS of $0.50, $0.01 worse than the analyst estimate of $0.51. Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $1.03 billion.

Fourth Quarter 2017 Highlights

• Reported Loss Per Share (LPS) of $0.81 and Adjusted Earnings Per Share (EPS)[1] of $0.50
  • Reported LPS includes $158 million of discrete, non-cash tax expenses, primarily related to the impact of the U.S. Tax Cuts and Jobs Act of 2017
• Sales were $1.03 billion, down 3.4%, or 7.1% on a constant currency basis and included approximately 2% negative impact related to divested businesses
  • Aftermarket sales were $502 million, up 0.1%, or down 2.8% on a constant currency basis
• Reported gross and operating margins of 29.4% and 8.3%
  • Adjusted gross and operating margins[2] were 30.5% and 9.8%
• Total bookings were $985 million, up 8.5%, or 4.7% on a constant currency basis, and included approximately 2% negative impact related to divested businesses
  • Aftermarket bookings were $464 million, or 47% of total bookings, up 3.9%, or 0.9% on a constant currency basis

GUIDANCE:

Flowserve sees FY2018 EPS of $1.50-$1.70, versus the consensus of $1.84.

For earnings history and earnings-related data on Flowserve (FLS) click here.