Flowserve Raises FY24 Adj. EPS From $2.40-$2.60 To $2.50-$2.70 Vs $2.54 Est.
Portfolio Pulse from Benzinga Newsdesk
Flowserve has increased its adjusted earnings per share (EPS) forecast for fiscal year 2024 from the range of $2.40-$2.60 to $2.50-$2.70, compared to the analyst estimate of $2.54.
April 29, 2024 | 8:31 pm
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Flowserve has revised its FY24 adjusted EPS guidance upwards, now expecting $2.50-$2.70, above the consensus estimate of $2.54.
Raising the EPS forecast typically signals confidence in the company's future performance and operational efficiency, which can positively influence investor sentiment and potentially lead to an increase in stock price in the short term. Given that the new guidance range's midpoint exceeds the analyst consensus, this update is particularly positive and likely to be viewed favorably by the market.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100