Flowserve reports Q3 adjusted EPS 62c, consensus 67c

Reports Q3 revenue $1.13B, consensus $1.13B. Total bookings were $1.20B, up $136.1M or 12.7%. The company said, “Our third quarter results reflect strong operational performance, including meaningful year-over-year improvements in margins, EPS and cash flow. The Flowserve (FLS) Business System is beginning to deliver results as we advance our operational excellence and portfolio excellence initiatives. We generated $1.2 billion in bookings during the quarter, which included a healthy mix of project awards, strong aftermarket activity and record bookings from our 3D strategic initiatives. We believe our 3D strategy, combined with the Flowserve Business System, are the key drivers to accelerating growth and continuing to expand our margins.”