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The Zacks Consensus Estimate for the company’s fourth-quarter earnings has remained steady in the past 60 days. The company has an impressive earnings surprise history, having outperformed the consensus estimate in each of the preceding four quarters, the average beat being 27.3%.
Let’s see how things have shaped up for Flowserve this earnings season.
Factors to Note
Flowserve’s Pump Division segment’s fourth-quarter 2023 performance is expected to have gained from higher aftermarket and original equipment customer sales. The Zacks Consensus Estimate for the segment’s gross sales is pegged at $800 million, indicating an 8.3% rise from the fourth-quarter 2022 reported number.
Robust aftermarket and customer original equipment sales are likely to support the results of the Flow Control Division segment in the fourth quarter. The consensus estimate for gross sales of the segment is pegged at $335 million, indicating a 10.9% increase from the year-ago quarter’s reported number.
Record levels of booking due to strong Maintenance, Repair and Operations, and aftermarket activity have been driving Flowserve's growth. The consensus estimate for the company’s fourth-quarter 2023 revenues is pegged at $1.1 billion, suggesting an increase of 9.3% from the year-ago quarter’s reported figure.
However, the rising cost of sales due to raw material inflation is likely to have partially dented FLS’ bottom line in the to-be-reported quarter. The consensus estimate for the company’s adjusted earnings is pegged at 61 cents per share, indicating a 3.2% decline from the year-ago quarter’s reported number.
The company’s international presence exposes it to the risk of adverse currency fluctuations, which is expected have hurt its performance in the to-be-reported quarter.
Our proven model predicts an earnings beat for Flowserve this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as elaborated below.
Earnings ESP: Flowserve has an Earnings ESP of +1.22% as the Most Accurate Estimate is pegged at 62 cents, which is higher than the Zacks Consensus Estimate of 61 cents per share. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Flowserve presently carries a Zacks Rank of 2.
Highlights of Q3 Earnings
Flowserve’s third-quarter 2023 adjusted earnings (excluding 15 cents from non-recurring items) of 50 cents per share beat the Zacks Consensus Estimate of 41 cents. The bottom line increased 455.6% year over year. The company’s total sales of $1,094.7 million beat the consensus estimate of $1,020 million. The top line increased 25.4% year over year. Sales increased 23% on a constant-currency basis.
Other Stocks to Consider
Here are some other companies within the broader Industrial Products sector, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
The company is slated to release first-quarter fiscal 2024 (ended Dec 2023) results on Feb 21. Nordson’s earnings have surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing the mark in one, the average beat being 2.6%.
Graphic Packaging Holding Company (GPK - Free Report) has an Earnings ESP of +2.04% and a Zacks Rank of 3, at present. The company is scheduled to release fourth-quarter 2023 results on Feb 20.
Graphic Packaging’s earnings surpassed the Zacks Consensus Estimate in three of the preceding four quarters while missing in one, the average beat being 4.2%.
Sealed Air Corporation (SEE - Free Report) has an Earnings ESP of +3.46% and a Zacks Rank of 3. The company is slated to release fourth-quarter 2023 results on Feb 27.
Sealed Air’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing in one, the average beat being 9.3%.
Image: Bigstock
What's in the Offing for Flowserve (FLS) in Q4 Earnings?
Flowserve Corporation (FLS - Free Report) is slated to release fourth-quarter 2023 results on Feb 20, after market close.
The Zacks Consensus Estimate for the company’s fourth-quarter earnings has remained steady in the past 60 days. The company has an impressive earnings surprise history, having outperformed the consensus estimate in each of the preceding four quarters, the average beat being 27.3%.
Let’s see how things have shaped up for Flowserve this earnings season.
Factors to Note
Flowserve’s Pump Division segment’s fourth-quarter 2023 performance is expected to have gained from higher aftermarket and original equipment customer sales. The Zacks Consensus Estimate for the segment’s gross sales is pegged at $800 million, indicating an 8.3% rise from the fourth-quarter 2022 reported number.
Robust aftermarket and customer original equipment sales are likely to support the results of the Flow Control Division segment in the fourth quarter. The consensus estimate for gross sales of the segment is pegged at $335 million, indicating a 10.9% increase from the year-ago quarter’s reported number.
Record levels of booking due to strong Maintenance, Repair and Operations, and aftermarket activity have been driving Flowserve's growth. The consensus estimate for the company’s fourth-quarter 2023 revenues is pegged at $1.1 billion, suggesting an increase of 9.3% from the year-ago quarter’s reported figure.
However, the rising cost of sales due to raw material inflation is likely to have partially dented FLS’ bottom line in the to-be-reported quarter. The consensus estimate for the company’s adjusted earnings is pegged at 61 cents per share, indicating a 3.2% decline from the year-ago quarter’s reported number.
The company’s international presence exposes it to the risk of adverse currency fluctuations, which is expected have hurt its performance in the to-be-reported quarter.
Flowserve Corporation Price and Consensus
Flowserve Corporation price-consensus-chart | Flowserve Corporation Quote
Earnings Whispers
Our proven model predicts an earnings beat for Flowserve this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as elaborated below.
Earnings ESP: Flowserve has an Earnings ESP of +1.22% as the Most Accurate Estimate is pegged at 62 cents, which is higher than the Zacks Consensus Estimate of 61 cents per share. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Flowserve presently carries a Zacks Rank of 2.
Highlights of Q3 Earnings
Flowserve’s third-quarter 2023 adjusted earnings (excluding 15 cents from non-recurring items) of 50 cents per share beat the Zacks Consensus Estimate of 41 cents. The bottom line increased 455.6% year over year. The company’s total sales of $1,094.7 million beat the consensus estimate of $1,020 million. The top line increased 25.4% year over year. Sales increased 23% on a constant-currency basis.
Other Stocks to Consider
Here are some other companies within the broader Industrial Products sector, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Nordson Corporation (NDSN - Free Report) has an Earnings ESP of +3.25% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is slated to release first-quarter fiscal 2024 (ended Dec 2023) results on Feb 21. Nordson’s earnings have surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing the mark in one, the average beat being 2.6%.
Graphic Packaging Holding Company (GPK - Free Report) has an Earnings ESP of +2.04% and a Zacks Rank of 3, at present. The company is scheduled to release fourth-quarter 2023 results on Feb 20.
Graphic Packaging’s earnings surpassed the Zacks Consensus Estimate in three of the preceding four quarters while missing in one, the average beat being 4.2%.
Sealed Air Corporation (SEE - Free Report) has an Earnings ESP of +3.46% and a Zacks Rank of 3. The company is slated to release fourth-quarter 2023 results on Feb 27.
Sealed Air’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing in one, the average beat being 9.3%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.