Flowserve Corp Q2 2023 Earnings Call Summary - Thomson StreetEvents

Flowserve Corp Q2 2023 Earnings Call Summary

Flowserve Corp Q2 2023 Earnings Call Summary - Thomson StreetEvents
Flowserve Corp Q2 2023 Earnings Call Summary
Published Aug 02, 2023
17 pages (10255 words) — Published Aug 02, 2023
Price US$ 54.00  |  Buy this Report Now

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Abstract:

Edited Brief of FLS.N earnings conference call or presentation 2-Aug-23 3:00pm GMT

  
Brief Excerpt:

...A. I couldn't be more pleased with the results that we delivered in the second quarter, including our adjusted earnings per share of $0.52. B. We continue to build on the operating momentum established at the end of last year, and I believe we are now delivering much closer to our true capabilities. C. Our results for the second quarter were highlighted by the sixth consecutive quarter with bookings over $1 billion, our highest quarterly level of revenue since 2015 and our second consecutive quarter delivering adjusted gross margins above 30%. D. Our improved operational execution, combined with our constructive market outlook has led us to raise our full year revenue and adjusted EPS targets. E. During the second quarter, we generated bookings of over $1.1 billion. F. This performance drove our first half book-to-bill of 1.05 and our backlog to near-record levels, which reflects the success of our targeted 3D growth strategy and our customers' ongoing global focus on energy security and...

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
Flowserve Corp
Ticker
FLS.N
Time
3:00pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : Maybe starting off with one on the guide. 3Q looks a lot like 1Q would imply that 4Q looks a lot like 4Q last year. I would have thought you had some tailwinds going on in terms of better pricing coming out of the backlog, maybe a better mix with all of these aftermarket bookings. Do you feel like there's still a degree of conservatism, which is understandable after the last couple of years baked into the guidance here?

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : And then maybe as my follow-up question, we'll talk about gross margins. It's good to see them getting back to this consistent 30% level. Again, you should have some tailwinds over the next 18 months as some of this backlog converts from better absorption, from better pricing coming out, probably some operational improvement that you've demonstrated here in the second quarter. Can you maybe talk a bit more about the medium-term outlook for gross margins and where you think they might be able to get to?

Table Of Contents

Flowserve Corp Q3 2023 Earnings Call Summary – 2023-10-26 – US$ 54.00 – Edited Brief of FLS.N earnings conference call or presentation 26-Oct-23 3:00pm GMT

Flowserve Corp Q3 2023 Earnings Call Transcript – 2023-10-26 – US$ 54.00 – Edited Transcript of FLS.N earnings conference call or presentation 26-Oct-23 3:00pm GMT

Flowserve Corp Announces Analyst Day Summary – 2023-09-28 – US$ 54.00 – Edited Brief of FLS.N corporate analyst meeting</ 28-Sep-23 12:00pm GMT

Flowserve Corp Announces Analyst Day Transcript – 2023-09-28 – US$ 54.00 – Edited Transcript of FLS.N corporate analyst meeting</ 28-Sep-23 12:00pm GMT

Flowserve Corp Q2 2023 Earnings Call Transcript – 2023-08-02 – US$ 54.00 – Edited Transcript of FLS.N earnings conference call or presentation 2-Aug-23 3:00pm GMT

Flowserve Corp at Stifel Cross Sector Insight Conference Summary – 2023-06-07 – US$ 54.00 – Edited Brief of FLS.N presentation 7-Jun-23 7:35pm GMT

Flowserve Corp at Stifel Cross Sector Insight Conference Transcript – 2023-06-07 – US$ 54.00 – Edited Transcript of FLS.N presentation 7-Jun-23 7:35pm GMT

Flowserve Corp at TD Cowen Sustainability Conference (Virtual) Summary – 2023-06-06 – US$ 54.00 – Edited Brief of FLS.N presentation 6-Jun-23 2:55pm GMT

Flowserve Corp at TD Cowen Sustainability Conference (Virtual) Transcript – 2023-06-06 – US$ 54.00 – Edited Transcript of FLS.N presentation 6-Jun-23 2:55pm GMT

Flowserve Corp at Goldman Sachs Industrials & Materials Conference Transcript – 2023-05-09 – US$ 54.00 – Edited Transcript of FLS.N presentation 9-May-23 6:30pm GMT

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Cite this Report

  
MLA:
Thomson StreetEvents. "Flowserve Corp Q2 2023 Earnings Call Summary" Aug 02, 2023. Alacra Store. May 23, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q2-2023-Flowserve-Corp-Earnings-Call-B15666216>
  
APA:
Thomson StreetEvents. (2023). Flowserve Corp Q2 2023 Earnings Call Summary Aug 02, 2023. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q2-2023-Flowserve-Corp-Earnings-Call-B15666216>
  
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