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Stock impact report

Why Flowserve Stock Soared Today [Yahoo! Finance]

Flowserve Corporation (FLS) 
Last flowserve corporation earnings: 2/17 04:20 pm Check Earnings Report
US:NYSE Investor Relations: ir.flowserve.com
Company Research Source: Yahoo! Finance
10 stocks we like better than Flowserve › Flowserve (NYSE: FLS) stock surged ahead 25.1% through 10:35 a.m. ET Wednesday despite reporting mixed earnings last night. Heading into the Q3 report, analysts forecast Flowserve would earn only $0.80 per share non-GAAP (generally accepted accounting principles) on sales of just over $1.2 billion. In fact, Flowserve earned $0.90, while its sales underperformed, coming in just below $1.2 billion. Image source: Getty Images. Flowserve's Q3 earnings Flowserve grew its sales only 3.6% year over year, although backlog did grow 4%. Bookings of new orders were a bit more worrisome, rising only 0.8%, which suggests sales growth could slow in the future. That's not particularly optimistic-sounding, though, so what explains the remarkable strength we're seeing in Flowserve's stock price today? Well, isolated pockets of Flowserve's business do seem to be booming. Aftermarket parts bookings, for example, grew a respectable 6%, while bookings Show less Read more
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