S&P 500 (NYSE:SPY) component Flowserve Corp (NYSE:FLS) will unveil its latest earnings on Wednesday, July 27, 2011. Flowserve Corp. develops and manufactures flow control products and systems for the world’s most critical applications.
Flowserve Corp Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.78 per share, a rise of 3.5% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.79. Between one and three months ago, the average estimate moved up, but has dropped from $1.80 during the last month. For the year, analysts are projecting profit of $7.82 per share, a rise of 12% from last year.
Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 13 cents, reporting net income of $1.72 per share against a mean estimate of profit of $1.59 per share.
Wall St. Revenue Expectations: On average, analysts predict $1.06 billion in revenue this quarter, a rise of 10.3% from the year ago quarter. Analysts are forecasting total revenue of $4.37 billion for the year, a rise of 8.4% from last year’s revenue of $4.03 billion.
Analyst Ratings: Analysts are bullish on this stock with eight analysts rating it as a buy, none rating it as a sell and three rating it as a hold.
A year-over-year revenue increase in the first quarter snaps a streak of three consecutive quarters of revenue declines. Revenue rose 4% in the first quarter and fell 4.9% in the fourth quarter of the last fiscal year, 7.6% in the third quarter of the last fiscal year and 11.9% in the second quarter of the last fiscal year.
While the company has been profitable for the last eight quarters, income has fallen year over year by an average of 0.9% over the past four quarters. The quarter hit the hardest was the second quarter of the last fiscal year, that saw a 15.3% drop.
Stock Price Performance: During April 26, 2011 to July 21, 2011, the stock price had fallen $23.54 (-17.5%) from $134.54 to $111. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 1, 2011 when shares rose for six-straight days, rising 6.8% (+$7.11) over that span. It saw one of its worst periods between August 4, 2010 and August 16, 2010 when shares fell for nine-straight days, falling 7.4% (-$7.56) over that span. Shares are down $7.55 (-6.4%) year to date.
(Source: Xignite Financials)