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Flowserve Corporation (FLS) designs, manufactures, distributes, and services industrial flow management equipment. 
It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments.
The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines.
The FCD segment provides engineered and industrial valve and automation solutions, including isolation and control valves, actuation, controls, and related equipment, as well as equipment maintenance services for flow control systems, including advanced diagnostics, repair, installation, commissioning, retrofit programs, and field machining capabilities. This segment's products are used to control, direct, and manage the flow of liquids, gases, and multi-phase fluids.
It primarily serves oil and gas, chemical and pharmaceuticals, power generation, and water management markets, as well as general industries, including mining and ore processing, pulp and paper, food and beverage, and other smaller applications.
Shares have formed a bullish "cup and handle" following its latest earnings report. On August 1st, FLS reported earnings of $0.52 per share on revenue of $1.08 billion for the second quarter ended June 2023. The consensus earnings estimate was $0.40 per share on revenue of $982.06 million. The company beat expectations by 23.81% while revenue grew 22.46% on a year-over-year basis.
Guided Higher: The company said it expects 2023 earnings of $1.85 to $2.00 per share on revenue of $4.194 billion to $4.266 billion. The company's previous guidance was earnings of $1.65 to $1.85 per share on revenue of $3.98 billion to $4.05 billion and the current consensus earnings estimate is $1.82 per share on revenue of $4.03 billion for the year ending December 31, 2023.
Entry Point: $39.50
Trading Range: $23.89 to $40.15
Stop Loss: $37.50
Target Price: $43.50
