The 52-week price range is $33.72-$59.03 and the company has a market capitalization of $5.60 billion. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. One analyst has rated the stock with a sell rating, 11 has assigned a hold rating, 0 says it’s a buy, and 3 have assigned a strong buy rating to the company.
Flowserve Corp (FLS) on February 18, 2016 reported its financial results for the fourth quarter and full year ended December 31, 2015.
Fourth Quarter 2015 Highlights
- Adjusted Earnings Per Share (EPS) was $0.89 inclusive of $0.06 of negative currency translation and $0.06 of reserves established for an at-risk customer, which was previously excluded from expected Adjusted EPS in our preliminary results release on February 1, 2016
- Sales were $1.29 billion, including $76.4 million from SIHI, up 1.2% on a constant currency basis
- Aftermarket sales were $563 million in the fourth quarter, up 5.5% on a constant currency basis
- Total Bookings were $969 million, down 20.7% on a constant currency basis
- Aftermarket bookings were $455 million, or 47% of total bookings, down approximately 10.8% on a constant currency
- Announces expanded realignment program to now reduce a total of approximately $215 million in annualized costs at completion in late 2017
Full Year 2015 and Other Highlights
- Adjusted Earnings Per Share (EPS) was $3.07 for full year 2015, inclusive of $0.22 of negative currency translation and $0.09 of allowance for doubtful accounts and reserves for an at-risk customer
- Full year total Bookings were $4.18 billion, representing a full year book-to-bill of 92%
- Full year aftermarket bookings were $1.88 billion, or 45% of total bookings
- Backlog at December 31, 2015 was $2.17 billion, including SIHI backlog of $94 million
- Returned $397 million to shareholders in 2015 through share repurchases and dividends
- Declares upcoming dividend at $0.19 per share, representing a 5.6% per share increase over previous quarter, and marks 9 consecutive years of dividend growth
“During 2015 and into the fourth quarter, our end-markets deteriorated further than anticipated a year ago and we are not currently forecasting near-term improvement. However, Flowserve’s operating results for the fourth quarter were solid, which generated full year Adjusted EPS in-line with our third quarter guidance. SIHI, which was acquired in the 2015 first quarter, also delivered on our expectations for the year,” said Mark Blinn, Flowserve’s president and chief executive officer. “In light of current business conditions, we are using this as an opportunity to accelerate our longer-term plans by implementing key strategic and structural changes to our operating platform and cost structure, which we anticipate will enable continued success in varied market conditions.
0 yorum:
Yorum Gönder