Flowserve Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 20, 2024 at 04:01 pm EST
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Flowserve Corporation reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 1,165.18 million compared to USD 1,038.96 million a year ago. Net income was USD 62.62 million compared to USD 121.33 million a year ago. Basic earnings per share from continuing operations was USD 0.48 compared to USD 0.93 a year ago. Diluted earnings per share from continuing operations was USD 0.47 compared to USD 0.92 a year ago.
For the full year, sales was USD 4,320.58 million compared to USD 3,615.12 million a year ago. Net income was USD 186.74 million compared to USD 188.69 million a year ago. Basic earnings per share from continuing operations was USD 1.42 compared to USD 1.44 a year ago. Diluted earnings per share from continuing operations was USD 1.42 compared to USD 1.44 a year ago.
Flowserve Corporation is a manufacturer and aftermarket service provider of comprehensive flow control systems. It develops and manufactures precision-engineered flow control equipment integral to the movement, control and protection of the flow of materials. Its segments include Flowserve Pumps Division (FPD) and Flow Control Division (FCD). FPD segment designs, manufactures, pretests, distributes and services specialty and highly engineered custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts and upgrades and related aftermarket services. FPD products and services are used by companies that operate in the oil and gas, chemical, power generation, water management and general industries. FCD segment designs, manufactures, distributes and services a broad portfolio of flow control solutions, including engineered and industrial valve and automation systems, isolation and control valves, actuation, controls and related equipment.