Flowserve Corp. Q1 2024 Sales Hit $1.03B

Ticker: FLS · Form: 10-Q · Filed: 2024-04-29T00:00:00.000Z

Sentiment: neutral

Topics: earnings, financials, balance-sheet

TL;DR

FLS Q1 sales $1.03B, down YoY. Balance sheet shows $4.2B assets, $2.6B liabilities.

AI Summary

Flowserve Corp. reported its first quarter 2024 results, with total net sales for the three months ended March 31, 2024, reaching $1.03 billion. The company's financial statements show a decrease in net sales compared to the same period in the prior year. Key financial figures include total assets of $4.2 billion as of March 31, 2024, and total liabilities of $2.6 billion.

Why It Matters

This filing provides insight into Flowserve's financial performance in early 2024, impacting investor confidence and market valuation for the industrial equipment manufacturer.

Risk Assessment

Risk Level: medium — The filing indicates a decrease in net sales, which could signal potential challenges in the company's market or operational performance.

Key Numbers

$1.03B — Net Sales (Q1 2024) (Represents the total revenue generated in the first quarter of 2024.)
$4.2B — Total Assets (as of 03/31/2024) (Indicates the total resources owned by the company at the end of the first quarter.)
$2.6B — Total Liabilities (as of 03/31/2024) (Represents the total obligations of the company at the end of the first quarter.)

Key Players & Entities

Flowserve Corp. (company) — Filer of the 10-Q report
$1.03 billion (dollar_amount) — Total net sales for the three months ended March 31, 2024
March 31, 2024 (date) — End of the reporting period for Q1 2024
$4.2 billion (dollar_amount) — Total assets as of March 31, 2024
$2.6 billion (dollar_amount) — Total liabilities as of March 31, 2024

FAQ

What were Flowserve Corp.'s total net sales for the first quarter of 2024?

Flowserve Corp.'s total net sales for the three months ended March 31, 2024, were $1.03 billion.

What was the total value of Flowserve Corp.'s assets as of March 31, 2024?

As of March 31, 2024, Flowserve Corp.'s total assets amounted to $4.2 billion.

What was the total amount of Flowserve Corp.'s liabilities as of March 31, 2024?

Flowserve Corp.'s total liabilities as of March 31, 2024, were $2.6 billion.

What is the fiscal year end for Flowserve Corp.?

Flowserve Corp.'s fiscal year ends on December 31.

In which state was Flowserve Corp. incorporated?

Flowserve Corp. was incorporated in New York (NY).

From the Filing

0000030625-24-000041.txt : 20240429 0000030625-24-000041.hdr.sgml : 20240429 20240429160151 ACCESSION NUMBER: 0000030625-24-000041 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 84 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240429 DATE AS OF CHANGE: 20240429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FLOWSERVE CORP CENTRAL INDEX KEY: 0000030625 STANDARD INDUSTRIAL CLASSIFICATION: PUMPS & PUMPING EQUIPMENT [3561] ORGANIZATION NAME: 06 Technology IRS NUMBER: 310267900 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-13179 FILM NUMBER: 24890481 BUSINESS ADDRESS: STREET 1: 5215 N. O'CONNOR BLVD. STREET 2: SUITE 700 CITY: IRVING STATE: TX ZIP: 75039 BUSINESS PHONE: 9724436500 MAIL ADDRESS: STREET 1: 5215 N. O'CONNOR BLVD. STREET 2: SUITE 700 CITY: IRVING STATE: TX ZIP: 75039 FORMER COMPANY: FORMER CONFORMED NAME: DURCO INTERNATIONAL INC DATE OF NAME CHANGE: 19970508 FORMER COMPANY: FORMER CONFORMED NAME: DURIRON CO INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: THE DURIRON CO INC DATE OF NAME CHANGE: 19900509 10-Q 1 fls-20240331.htm 10-Q fls-20240331 0000030625 FALSE 2024 Q1 12/31 9 1 0000030625 2024-01-01 2024-03-31 0000030625 2024-04-19 xbrli:shares iso4217:USD 0000030625 2023-01-01 2023-03-31 iso4217:USD xbrli:shares 0000030625 2024-03-31 0000030625 2023-12-31 0000030625 us-gaap:CommonStockMember 2023-12-31 0000030625 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0000030625 us-gaap:RetainedEarningsMember 2023-12-31 0000030625 us-gaap:TreasuryStockCommonMember 2023-12-31 0000030625 us-gaap:DeferredCompensationShareBasedPaymentsMember 2023-12-31 0000030625 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0000030625 us-gaap:NoncontrollingInterestMember 2023-12-31 0000030625 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-03-31 0000030625 us-gaap:TreasuryStockCommonMember 2024-01-01 2024-03-31 0000030625 us-gaap:DeferredCompensationShareBasedPaymentsMember 2024-01-01 2024-03-31 0000030625 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0000030625 us-gaap:NoncontrollingInterestMember 2024-01-01 2024-03-31 0000030625 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-03-31 0000030625 us-gaap:CommonStockMember 2024-03-31 0000030625 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0000030625 us-gaap:RetainedEarningsMember 2024-03-31 0000030625 us-gaap:TreasuryStockCommonMember 2024-03-31 0000030625 us-gaap:DeferredCompensationShareBasedPaymentsMember 2024-03-31 0000030625 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0000030625 us-gaap:NoncontrollingInterestMember 2024-03-31 0000030625 us-gaap:CommonStockMember 2022-12-31 0000030625 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0000030625 us-gaap:RetainedEarningsMember 2022-12-31 0000030625 us-gaap:TreasuryStockCommonMember 2022-12-31 0000030625 us-gaap:DeferredCompensationShareBasedPaymentsMember 2022-12-31 0000030625 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0000030625 us-gaap:NoncontrollingInterestMember 2022-12-31 0000030625 2022-12-31 0000030625 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-03-31 0000030625 us-gaap:TreasuryStockCommonMember 2023-01-01 2023-03-31 0000030625 us-gaap:DeferredCompensationShareBasedPaymentsMember 2023-01-01 2023-03-31 0000030625 us-gaap:RetainedEarningsMember 2023-01-01 2023-03-31 0000030625 us-gaap:NoncontrollingInterestMember 2023-01-01 2023-03-31 0000030625 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-03-31 0000030625 us-gaap:CommonStockMember 2023-03-31 0000030625 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0000030625 us-gaap:RetainedEarningsMember 2023-03-31 0000030625 us-gaap:TreasuryStockCommonMember 2023-03-31 0000030625 us-gaap:DeferredCompensationShareBasedPaymentsMember 2023-03-31 0000030625 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-03-31 0000030625 us-gaap:NoncontrollingInterestMember 2023-03-31 00000