Flowserve (FLS) Stock Forecast & Price Target

Flowserve Corp demonstrated strong financial performance, with adjusted operating margins expanding by 370 basis points year-over-year to 14.8%, surpassing estimates and consensus expectations. The company also reported robust aftermarket bookings of $653 million, indicating a 6% increase year-over-year, while achieving its 15th consecutive quarter of over $1 billion in bookings. Additionally, the growth in the project funnel across all end markets, particularly in the nuclear and power sectors, further bolstered its positive outlook.

Flowserve Corporation reported its 14th consecutive quarter of bookings exceeding $1 billion; however, this figure marked a 13.6% year-over-year decline, resulting in a book-to-bill ratio of 0.91x. The company's total core growth stood at -1.0%, significantly below the estimate of 3.4%, with core sales for the FPD segment declining by -0.3% and the FCD segment decreasing by -2.4%, both falling short of expectations. Additionally, Flowserve lowered its total sales and organic sales growth projections for the year, indicating further challenges in maintaining growth momentum amidst a declining market environment.