Flowserve reports Q1 adjusted EPS 40c, consensus 25c

Reports Q1 revenue $980.3M, consensus $898.89M. "We delivered a very strong start to 2023, building on the momentum established in the fourth quarter of 2022," said Scott Rowe, Flowserve’s president and chief executive officer. "Our performance was supported by improved operational execution and healthy revenue growth which enabled us to achieve adjusted gross margins above 30%. Thanks to the continued commitment of our associates, both of our segments exceeded our previous revenue, margin and bookings expectations for the period, validating the process improvement actions implemented over the past year."