Flowserve Q3 2024 Earnings Report
Key Takeaways
Flowserve reported a strong third quarter in 2024, with bookings reaching $1.20 billion, a 12.7% increase year-over-year. The company saw improvements in adjusted gross and operating margins, and generated $178 million in operating cash flow, a 121% increase year-over-year. Adjusted EPS increased to $0.62, up 24% from the prior year.
Total bookings increased by 12.7% to $1.20 billion, driven by aftermarket activity and 3D strategy bookings.
Adjusted Gross and Operating Margins increased by 270 and 240 basis points, respectively, compared to the prior year period.
Adjusted Earnings Per Share (EPS) increased by 24% to $0.62, including an unfavorable impact from a discrete charge for certain long-term liabilities.
Operating cash flow increased by 121% year-over-year to $178 million, driven by earnings growth and working capital improvements.
Flowserve
Flowserve
Flowserve Revenue by Segment
Forward Guidance
Flowserve reaffirmed its previously announced Adjusted EPS target range for 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income