Flowserve (FLS) Misses Q1 EPS by 19c
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Flowserve Corporation Reports First Quarter 2020 Results and Updates COVID-19 Response
May 7, 2020 4:07 PM EDTTaking action in response to COVID-19 while executing on Flowserve 2.0 transformation Bookings of $976.9 million produced a book-to-bill over 1.09 and backlog growth of 1.2% First Quarter GAAP EPS was break-even, and Adjusted EPS of $0.21, reflecting significant impact of COVID-19 and associated temporary site closures of approximately $0.19 per share Delivered solid free cash flow of $30 million in seasonally weak first quarter with continued strong liquidity in excess of $1.3 billion Initiating $100 million of aggressive cost actions,... More
