Flowserve (FLS +3.3%) moves up on a slightly better than expected Q4 report late yesterday. Net...
Friday, February 22, 1:35 PM ETFlowserve (FLS +3.3%) moves up on a slightly better than expected Q4 report late yesterday. Net earnings rose 13% as the valve-and-pump manufacturer recorded sales growth across all business segments. Sales in the engineered-product division, its largest top-line contributor, grew 7.2%, while the industrial-product division's revenue rose 1.5% and its flow-control division were up 4.4% . Gross margin widened to 33.7% from 33.2% despite a 4.2% rise in input costs.
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