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Jun 30, 2024
Flowserve Q2 2024 Earnings Report
Flowserve's Q2 2024 results were reported with adjusted EPS exceeding expectations and full-year adjusted EPS guidance raised.
Key Takeaways
Flowserve Corporation reported strong second-quarter 2024 results, with earnings per share increasing 41% and adjusted earnings per share rising 40%. The company's bookings reached $1.25 billion, the highest quarterly level since 2014, driven by record aftermarket activity. Adjusted gross and operating margins also improved, leading to an increase in the full-year adjusted EPS guidance to $2.60 to $2.75.
Reported EPS of $0.55 and Adjusted EPS of $0.73, compared to $0.39 and $0.52, respectively.
Total bookings were $1.25 billion, up 12.2% or $135.1 million.
Adjusted gross and operating margins were 32.3% and 12.5%, respectively, up 200 and 210 basis points, respectively.
Full-year 2024 Adjusted EPS guidance was raised to $2.60 to $2.75.
Revenue by Segment
Forward Guidance
Flowserve is raising its Adjusted EPS guidance metrics for 2024 and reaffirmed most other financial targets.
Positive Outlook
- Revenue Growth: Up 4.0% to 6.0% (Reaffirmed)
- Reported Earnings Per Share: $2.25 - $2.45 (Reaffirmed)
- Adjusted Earnings Per Share: $2.60 – $2.75 (Revised)
- Net Interest Expense: $60 to $65 million (Reaffirmed)
- Capital Expenditures: $75 - $85 million (Reaffirmed)
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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