Flowserve (FLS) Tops Q1 EPS by 14c, Offers Guidance
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Flowserve Corporation Reports First Quarter 2023 Results; Raises 2023 Financial Guidance
May 1, 2023 4:05 PM EDTReported and Adjusted1 Earnings Per Share (EPS) of 20 cents and 40 cents, respectively Achieved fifth consecutive quarter of bookings above $1 billion with $1.06 billion delivered in the first quarter; driven by strong MRO and Aftermarket activity and combined with the continued success of the 3D strategy Delivered strong revenue growth of 19.4%, generating adjusted operating margin of 8.3% with year-over-year incremental adjusted operating margins of 33.9% Book-to-bill of 1.08x increased backlog by 2.6%, or $71 million, to $2.8 billion on a sequential... More
