Flowserve (FLS) Misses Q1 EPS by 19c

Flowserve (NYSE: FLS) reported Q1 EPS of $0.21, $0.19 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $894.5 million versus the consensus estimate of $889.04 million.

Outlook
Rowe concluded, “Despite the magnitude of this crisis, we are better positioned to navigate this environment thanks to the progress we have made on our Flowserve 2.0 transformation, and I am confident we will continue to build on our achievements in the new environment. While our markets have been significantly impacted, our underlying financial position remains strong and we expect to deliver our robust backlog, continue to support our customers, and provide service and support for our global installed base of equipment. We are committed to taking the necessary measures to best position Flowserve to drive long-term value creation for our customers, associates and shareholders.”

As announced on April 6, 2020, Flowserve withdrew its full year 2020 guidance in light of the significant market uncertainty as a result of the COVID-19 pandemic, and its related affects.

For earnings history and earnings-related data on Flowserve (FLS) click here.

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