Flowserve (FLS), a leading provider of flow control products and services, saw its stock price plunge 6.48% during pre-market trading on Wednesday. The sharp decline followed the company's release of its fourth-quarter 2024 financial results, which fell short of analysts' expectations.
For the quarter ended December 2024, Flowserve reported revenue of $1.18 billion, representing a 1.3% year-over-year increase. However, this figure missed the Zacks Consensus Estimate of $1.21 billion, representing a surprise of -2.54%. Additionally, the company's earnings per share (EPS) of $0.70 came in below the consensus EPS estimate of $0.77, representing a surprise of -9.09%.
While the company provided some positive segment performance metrics, such as a 15.5% year-over-year increase in sales for its Flow Control Division (FCD), the overall disappointing earnings results appeared to weigh heavily on investor sentiment. The missed revenue and earnings estimates suggest that Flowserve's financial performance did not live up to market expectations, potentially contributing to the significant pre-market decline in its stock price.
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