Flowserve Reaffirms FY23 Outlook

(RTTNews) - Ahead of its 2023 Analyst Day later on Thursday, Flowserve Corp. (FLS) reaffirmed its earnings, adjusted earnings and revenue growth guidance for the full-year 2023. The company also initiated outlook for fiscal 2024.

For fiscal 2023, the company continues to project earnings in the range of $1.40 to $1.65 per share and adjusted earnings in the range of $1.85 to $2.00 per share on revenue growth of 16.0 to 18.0 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.98 per share on revenues of $4.23 billion for the year. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects adjusted earnings growth of over 20 to 25 percent year-over-year on revenue growth in the mid-single digit percentage year-over-year. The Street is looking for earnings of $2.41 per share on revenues of $4.50 billion for the year.

The company also targets adjusted earnings of over $4.00 per share on revenues of over $5.0 billion for fiscal 2027.