Flowserve Corp (FLS) Q1 2019 10-Q Quarterly Earnings

Short answer

Flowserve Corp (FLS) filed its Q1 2019 10-Q quarterly report on May 2, 2019 for the quarter ended Mar 31, 2019.

AI summary of MD&A and risk factor updates

Revenue $890.1M, down 3.3% YoY from $920.0M, with negative currency effects of approximately $33M
Gross margin 33.0% vs 29.5%; operating margin 10.2% vs 4.9% YoY
FPD largest segment: sales $609.4M, operating margin 13.2% vs 5.4%; FCD sales $282.1M, margin 15.7% vs 12.2%
Cash $637.7M vs $619.7M; operating cash flow $38.5M vs $(120.7)M YoY; dividends $24.9M and debt repayments $15.0M
Outlook: customer maintenance and short-cycle investment expected to increase in 2019; risks include currency, raw-material costs, project overruns and oil-and-gas dependence

No material risk-factor changes disclosed; Item 1A contains no substantive risk-factor text
Regulatory risk: New Lease Standard adoption increased recorded assets and liabilities by approximately $210 million
Liquidity risk: $1,392.238 million long-term debt due after one year, including $15.0 million scheduled quarterly repayments
Currency risk: Foreign-exchange contracts had $288.1 million notional value at March 31, 2019
Contract execution risk: $516 million of unsatisfied performance obligations, with $366 million expected as 2019 revenue

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

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