Flowserve Beats Analyst Estimates on EPS
May 1st 2012 10:22AM
Updated May 1st 2012 10:24AM
Flowserve (NYS: FLS) reported earnings on April 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Flowserve met expectations on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share dropped slightly.
Gross margin dropped, operating margin expanded, and net margin shrank.
Flowserve reported revenue of $1.07 billion. The 11 analysts polled by S&P Capital IQ hoped for revenue of $1.07 billion on the same basis. GAAP reported sales were 7.8% higher than the prior-year quarter's $997.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.69. The 10 earnings estimates compiled by S&P Capital IQ predicted $1.62 per share. GAAP EPS of $1.69 for Q1 were 1.7% lower than the prior-year quarter's $1.72 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 33.4%, 150 basis points worse than the prior-year quarter. Operating margin was 12.8%, 30 basis points better than the prior-year quarter. Net margin was 8.7%, 100 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.18 billion. On the bottom line, the average EPS estimate is $2.01.
Next year's average estimate for revenue is $4.80 billion. The average EPS estimate is $8.66.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 842 members out of 862 rating the stock outperform, and 20 members rating it underperform. Among 195 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 193 give Flowserve a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Flowserve is buy, with an average price target of $140.80.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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