Flowserve: Fourth Quarter Earnings Overview

Flowserve Corp. Reports Fourth Quarter Loss

Flowserve Corp., headquartered in Irving, Texas, announced a net loss of $29 million for the fourth quarter.

The company reported a loss of 23 cents per share. However, after adjusting for one-time expenses and merger-related costs, adjusted earnings reached $1.11 per share.

These adjusted earnings surpassed analysts’ expectations, as a consensus of five analysts polled by Zacks Investment Research had projected earnings of 94 cents per share.

Flowserve, a manufacturer of pumps, valves, and components for the oil and gas sector, generated $1.22 billion in revenue during the quarter. This figure was below the $1.26 billion anticipated by three analysts surveyed by Zacks.

For the full year, Flowserve reported a profit of $346.2 million, or $2.64 per share, with total revenue reaching $4.73 billion.

Looking ahead, the company forecasts its annual earnings to fall between $4 and $4.20 per share.

This article was produced by Automated Insights using information from Zacks Investment Research.