Flowserve Corp. (NYSE:FLS) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.53%.
Flowserve Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 18.93% to $2.01 in the quarter versus EPS of $1.69 in the year-earlier quarter.
Revenue: Rose 2.01% to $1.1 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Flowserve Corp. reported adjusted EPS income of $2.01 per share. By that measure, the company beat the mean analyst estimate of $1.94. It missed the average revenue estimate of $1.11 billion.
Quoting Management: “We are pleased with our 2013 first quarter performance, which represents a solid start to the year and provides confidence in our full year EPS target range,” remarked Mark Blinn, Flowserve`s president and chief executive officer. “The continued hard work and dedication of Flowserve`s associates is appreciated and has positioned us well for the remainder of the year.
Key Stats (on next page)…
Revenue decreased 17.44% from $1.33 billion in the previous quarter. EPS decreased 28.98% from $2.83 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $2.49 to a profit $2.45. For the current year, the average estimate has moved down from a profit of $10.42 to a profit of $10.17 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)