Flowserve (FLS) Misses Q3 EPS by 14c, Revenue Beats, Offers Guidance
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Flowserve Corporation Reports Third Quarter 2022 Results; Issues Fourth Quarter 2022 Financial Guidance
October 31, 2022 4:13 PM EDTStrong bookings of $1.22 billion increased 34.2% year-over-year and 40.8% on a constant currency basis, including one of Flowserves largest awards in its history Reported Earnings Per Share of 29 cents, includes 20 cents of net benefit due primarily to $30 million below-the-line foreign exchange gain, Adjusted Earnings per Share of 9 cents As previously announced, Reported and Adjusted Earnings per Share were impacted by approximately 22 cents per share of certain discrete items in the third quarter Backlog of $2.6 billion was up 29.9% versus 2021 year-end and 32.1% year-over-year, reaching its highest level since Q2 2015 and positioning the... More
