Flowserve Corp (FLS) Q2 2016 10-Q Quarterly Earnings

Short answer

Flowserve Corp (FLS) filed its Q2 2016 10-Q quarterly report on Jul 28, 2016 for the quarter ended Jun 30, 2016.

AI summary of MD&A and risk factor updates

Revenue $1,026.2M, down 11.7% YoY from $1,162.2M, pressured by oil and gas weakness and currency
Operating margin 9.5% vs 11.0%; gross margin 31.6% vs 31.8%
Best segment IPD gross margin 23.5% vs 22.5%; worst EPD operating margin 12.8% vs 15.1%
Cash $266.0M vs $366.4M; operating cash flow $3.3M vs $18.1M, with $36.9M capital expenditures
Management expected conditions to persist through 2016, citing capital spending declines, pricing pressure, deferred aftermarket spending and currency headwinds

Risk Factors section contains no substantive risk-factor text beyond the heading
Venezuela receivables risk intensified: customer accounts represented 7% of gross receivables, with 69% expected outside one year
Venezuela currency and political risk: DICOM rate 628.3 bolivars per dollar versus 10.0 official rate
Liquidity risk: cash declined to $266.013 million while debt due within one year reached $70.656 million
Market risk: six-month sales fell to $1.973 billion from $2.177 billion year over year

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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