Flowserve (FLS) reported earnings on Thur 15 Feb 2018 (a/h)

The Flowserve Corporation is an American multinational corporation and one of the largest suppliers of industrial and environmental machinery such as pumps, valves, end face mechanical seals, automation, and services to the power, oil, gas, chemical and other industries.

• Sector: Industrials > Industry: Pump & Pumping Equipment
• Founded in 1912 
• Headquarters: Irving, TX
• S&P 500 Component
• http://www.flowserve.com
• Div/yield 0.19/1.73

** charts before earnings **

  

** chart after earnings **

Flowserve misses by $0.02, reports revs in-line; guides FY18 EPS below consensus, revs above consensus 

• Reports Q4 (Dec) earnings of $0.50 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus of $0.52; revenues fell 3.4% year/year to $1.03 bln vs the $1.03 bln Capital IQ Consensus.
• Co issues mixed guidance for FY18, sees EPS of $1.50-1.70, excluding non-recurring items, vs. $1.85 Capital IQ Consensus Estimate; sees FY18 revenue growth of +3-6%, which we compute as $3.77-3.88 bln vs. $3.74 bln Capital IQ Consensus Estimate.
• "Flowserve's fourth quarter and full year 2017 adjusted results were largely in-line with our expectations. In the quarter, we achieved better than anticipated bookings growth, providing a solid foundation for growth in 2018...Additionally, we are increasingly optimistic that our core energy end markets are positioned to inflect. We believe that the continued stability in oil price levels, global economic growth, completion of U.S. tax reform and an improved regulatory environment, have improved market conditions, which could support our customers increased spending on deferred maintenance and efficiency upgrades, as well as reaching investment decisions for larger projects."