SoFi shares rise as record revenue, member growth drive strong Q3 results
DALLAS - Flowserve Corporation (NYSE:FLS) shares gained 3.5% after the flow control products provider reported third quarter adjusted earnings that beat analyst expectations and raised its full-year guidance above consensus estimates.
The company reported third quarter adjusted earnings per share of $0.90, exceeding the analyst estimate of $0.80. Revenue came in at $1.17 billion, up 3.6% YoY, in line with analyst expectations of $1.21 billion. The company’s aftermarket bookings grew 6.3% to $653.1 million, while adjusted operating margin expanded significantly by 370 basis points to 14.8%.
"Flowserve delivered another quarter of exceptional performance highlighted by strong revenue growth, significant margin and earnings expansion, and robust cash generation," said Scott Rowe, Flowserve’s President and Chief Executive Officer. "This performance enabled us to repurchase over $140 million shares during the quarter."
Following the strong results, Flowserve raised its full-year 2025 adjusted EPS guidance to $3.40-$3.50 from the previous range of $3.25-$3.40, above the analyst consensus of $3.36. The new guidance represents more than 30% growth at the midpoint compared to last year.
The company’s performance was driven by strength in its aftermarket business and a resurgent Power and Nuclear end market, with Power bookings increasing 23% YoY. The company also announced a transaction to divest legacy asbestos liabilities, which will allow it to focus capital allocation on growth opportunities.
Cash from operations reached $402 million, enabling the company to return $173 million to shareholders through dividends and share repurchases during the quarter.
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