Flowserve Corp Q1 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : Good morning, everyone. I'd like to follow up on some of the commentary around your ability to be a lot more selective with some of these projects. We've had plenty of commentary over the last few quarters about unabsorbed overhead. Can you talk about maybe where we are with that? Capacity utilization, the revenues a lot lower than it was still at the prior peak. There's been a lot of restructuring and stuff. So maybe capacity utilization comes into that. But just any further commentary you can give us on where we are with unabsorbed overhead and your ability to really be selective on projects here?

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : Historically, the competitors and yourself starting to fill up capacity has coincided with improved pricing. Do you expect to see continued improved pricing, I guess, on bid margins in projects continue to improve for the industry as well as for closure over the next year or so?