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Sep 30, 2021
Flowserve Q3 2021 Earnings Report
Flowserve's Q3 2021 results were affected by supply chain and logistics challenges, but bookings increased year-over-year.
Key Takeaways
Flowserve Corporation reported a decrease in sales but an increase in total bookings and backlog for Q3 2021. The company's financial results were negatively impacted by global supply chain, logistics, and labor availability issues, which deferred approximately $60 million of revenue and $20 million of gross profit out of the quarter.
Reported earnings per share (EPS) was $0.38 and adjusted EPS was $0.29.
Total bookings increased by 13.1% year-over-year to $911.6 million.
Backlog increased by 6.2% year-to-date to $1.97 billion.
Sales were $866.1 million, down 6.3% year-over-year.
Flowserve
Flowserve
Forward Guidance
Flowserve revised certain of its full-year 2021 financial guidance metrics, including revenue and adjusted EPS.