Flowserve Reports Strong Q3 2024 Financial Performance

Flowserve ( (FLS) ) has realeased its Q3 earnings. Here is a breakdown of the information Flowserve presented to its investors.

Flowserve Corporation is a leading provider of flow control products and services for the global infrastructure markets, producing engineered and industrial pumps, seals, and valves. In its latest earnings report for the third quarter of 2024, Flowserve Corporation announced significant growth in its financial metrics, with bookings reaching $1.20 billion, marking a 12.7% increase from the previous year. The company reported adjusted earnings per share (EPS) of $0.62, showcasing a 24% rise compared to the same period last year. Operating cash flow also surged by 121% year-over-year, highlighting the company’s effective management and operational improvements. Key highlights from the report include a substantial increase in power bookings by nearly 30%, with over $100 million in nuclear awards, and strong performance in both aftermarket and original equipment bookings. Flowserve’s adjusted gross and operating margins also improved, reaching 32.4% and 11.1%, respectively. Going forward, Flowserve remains optimistic about its strategic initiatives and operational improvements, with expectations to continue this positive momentum into 2025 and beyond, aiming towards its 2027 financial targets.