Flowserve Corp (FLS) Q3 2019 10-Q Quarterly Earnings

Short answer

Flowserve Corp (FLS) filed its Q3 2019 10-Q quarterly report on Oct 30, 2019 for the quarter ended Sep 30, 2019.

AI summary of MD&A and risk factor updates

Q3 revenue $996.5M, up 4.6% YoY from $952.7M
Gross margin 33.5% vs 32.4% YoY, operating margin 11.0% vs 6.5%
FPD strongest segment: sales $682.7M, operating margin 12.5% vs 8.7% YoY
Cash $547.3M vs $619.7M at December 31, 2018, nine-month operating cash flow $144.0M vs $26.3M
Outlook: business stabilization and large-project recovery, with geopolitical uncertainty challenging maintenance and short-cycle investment

No material changes disclosed to 2018 10-K risk factors
Regulatory compliance: potential FCPA violation previously self-reported to DOJ and SEC, with no legal action since subpoena response
Market exposure: increased geopolitical uncertainty challenging customers’ maintenance and short-cycle investment
Financial risk: $1.35 billion long-term debt due after one year, including €500 million notes due March 17, 2022
Currency risk: 10% exchange-rate movement would affect net earnings by approximately $12 million

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

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