Flowserve Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Flowserve Corp (NYSE:FLS) will unveil its latest earnings on Thursday, October 27, 2011. Flowserve 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 $1.86 per share, a rise of 1.1% 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 $1.91. Between one and three months ago, the average estimate moved down. It has been unchanged at $1.86 during the last month. For the year, analysts are projecting profit of $7.66 per share, a rise of 9.7% from last year.

Past Earnings Performance: Last quarter, the company beat estimates by 16 cents, coming in at net income of $1.94 a share versus the estimate of profit of $1.78 a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 14.2% in revenue from the year-earlier quarter to $1.11 billion.

Analyst Ratings: Analysts are bullish on this stock with eight analysts rating it as a buy, none rating it as a sell and one rating it as a hold.

A Look Back: In the second quarter, profit rose 7.7% to $98.7 million ($1.76 a share) from $91.6 million ($1.62 a share) the year earlier, exceeding analyst expectations. Revenue rose 17.1% to $1.13 billion from $961.1 million.

Key Stats:

The company has seen net income rise in three straight quarters. Net income rose 20.9% in the first quarter and 1.9% in the fourth quarter of the last fiscal year.

The company’s revenue has risen for two straight quarters. In the first quarter, the figure rose 4%.

Competitors to Watch: Sauer-Danfoss Inc. (NYSE:SHS), IDEX Corporation (NYSE:IEX),  Colfax Corporation (NYSE:CFX).

Stock Price Performance: During July 28, 2011 to October 21, 2011, the stock price had fallen $13.39 (-13.7%) from $97.76 to $84.37. 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% (+$7.08) over that span. It saw one of its worst periods between September 15, 2011 and September 23, 2011 when shares fell for seven-straight days, falling 16.7% (-$14.94) over that span. Shares are down $33.71 (-28.5%) year to date.

(Source: Xignite Financials)

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