Flowserve Corp First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Flowserve Corp (NYSE:FLS) will unveil its latest earnings on Monday, April 30, 2012. Flowserve develops and manufactures flow control products and systems for the world’s most critical applications.

Flowserve Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net income of $1.62 per share, a decline of 5.8% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from $1.75. Between one and three months ago, the average estimate moved down. It also has dropped from $1.63 during the last month. Analysts are projecting profit to rise by 10.1% compared to last year’s $8.61.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the fourth quarter of the last fiscal year, the company reported profit of $2.25 per share versus a mean estimate of net income of $2.26 per share. In the third quarter of the last fiscal year, the company beat estimates by 6 cents.

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Wall St. Revenue Expectations: Analysts predict a rise of 7.3% in revenue from the year-earlier quarter to $1.07 billion.

Analyst Ratings: Analysts are bullish on this stock, with nine analysts rating it as a buy, none rating it as a sell and none rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, profit rose 11.2% to $125.1 million ($2.24 a share) from $112.5 million ($1.99 a share) the year earlier, but fell short analyst expectations. Revenue rose 11% to $1.27 billion from $1.14 billion.

Key Stats:

This upcoming earnings announcement will be a chance to build on positive earnings momentum over the last three quarters. Net income rose 7.7% in the second quarter of the last fiscal year and 3.7% in the third quarter of the last fiscal year before increasing again in the fourth quarter of the last fiscal year.

On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 4% in the first quarter of the last fiscal year, 17.1% in the second quarter of the last fiscal year and 15.5% in the third quarter of the last fiscal year before increasing again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between February 27, 2012 and April 24, 2012, the stock price had fallen $7.28 (-6.1%), from $119.26 to $111.98. The stock price saw one of its best stretches over the last year between January 11, 2012 and January 19, 2012, when shares rose for six straight days, increasing 3.3% (+$3.45) over that span. It saw one of its worst periods between February 27, 2012 and March 6, 2012 when shares fell for seven straight days, dropping 6.1% (-$7.30) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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