Flowserve Full Year 2024 Earnings: EPS Misses Expectations

Flowserve (NYSE:FLS) Full Year 2024 Results

Key Financial Results

• Revenue: US$4.56b (up 5.5% from FY 2023).
• Net income: US$282.8m (up 51% from FY 2023).
• Profit margin: 6.2% (up from 4.3% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: US$2.15 (up from US$1.42 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Flowserve EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.1%.

The primary driver behind last 12 months revenue was the Flowserve Pump Division (FPD) segment contributing a total revenue of US$3.16b (69% of total revenue). Notably, cost of sales worth US$3.09b amounted to 68% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$886.5m (75% of total expenses). Explore how FLS's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Machinery industry in the US.

Performance of the American Machinery industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Flowserve's balance sheet and an in-depth analysis of the company's financial position.

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