Flowserve (FLS) Tops Q2 EPS by 25c

Flowserve (NYSE: FLS) reported Q2 EPS of $0.53, $0.25 better than the analyst estimate of $0.28. Revenue for the quarter came in at $925 million versus the consensus estimate of $882.99 million.

Outlook

Rowe concluded, “Looking forward, we expect to build on the momentum of the second quarter as we execute on our $2.1 billion backlog. While we continue to expect to see challenges in the back half of the year due to energy market volatility and the COVID-19 pandemic, we remain confident that the company is well-positioned to drive long-term value 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. The company did announce today that it expects second half 2020 reported and adjusted EPS to exceed the amount generated during the first half of the year, assuming no government-mandated or illness-driven shut downs of significant operating locations.

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

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