Analyst Consensus ?
ConsensusHold31 ratings
Bullish1341.9%
Neutral1754.9%
Bearish13.2%
Flowserve Corporation · FLS · FY2026 Q2 · Calendar Q3 2026
Flowserve: Strong bookings, lower sales outlook amid Middle East risk
Flowserve’s Q2 evidence supports a constructive operating trajectory: strong bookings, record aftermarket demand, margin expansion and nuclear and power opportunities outweighed near-term sales pressure. The case remains conditional on Middle East normalization, successful Trillium integration and reliable backlog conversion.
Reported After market closeNYSEIndustrials
$10.02B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.95
Consensus $0.86
EPS surprise
+10.5%
Reported versus consensus
Reported revenue
$1.17B
Consensus $1.16B
Revenue surprise
+0.9%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+7.7%
Event window
SPY move
+1.7%
Same window
Abnormal move
+6.0%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
+8.9%
Up to 20 sessions
FLSSPY benchmark
Ask FN2 about FLS FY2026 Q2
Transcript, numbers and history already loaded
Why did FLS rise 7.7% after beating EPS estimates in FY2026 Q2?What changed in FLS's guidance and outlook in FY2026 Q2?Give me the bull and bear case for FLS after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current quarter showed stronger bookings, a record aftermarket result and wider margins than the prior-quarter baseline. The key deterioration was guidance: Middle East disruption prompted a modest sales-outlook reduction, although the low end of EPS guidance was raised.
Guidance delta
Management modestly reduced the full-year sales outlook because of Middle East conflict, while raising the low end of EPS guidance and retaining expectations for mid-single-digit organic bookings growth and double-digit EPS growth.
Key takeaways
- Bookings rose 26% year over year to $1.35 billion, led by aftermarket and original equipment demand.
- Record aftermarket bookings reached $700 million, extending the streak above $600 million to nine quarters.
- Adjusted operating margin expanded to 15.3%, and adjusted EPS of $0.95 beat expectations.
- Middle East conflict and 80/20 portfolio actions pressured sales and led to a modest reduction in the full-year sales outlook.
- The Trillium Valves acquisition expands Flowserve’s power-generation footprint and is expected to support margin synergies.
Management priorities
- Integrate the Trillium Valves Division and realize margin synergies
- Continue roofline consolidation and portfolio simplification
- Pursue energy-security projects in Middle East pipelines and storage
- Expand participation in nuclear and SMR projects
- Increase aftermarket capture across the installed base
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$79.01Current
$33Low
$72.2Average
$94High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 31, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Mizuho | Outperform | Outperform | Maintain | Oct 15, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Oct 14, 2026 |
| Stifel | Buy | Buy | Maintain | Jul 31, 2026 |
| TD Cowen | Hold | Buy | Downgrade | Jun 24, 2026 |
| Citigroup | Buy | Buy | Maintain | Apr 13, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Dec 17, 2025 |
| Jefferies | Buy | Buy | Maintain | Dec 10, 2025 |
| B of A Securities | Neutral | Buy | Downgrade | Nov 14, 2025 |
| UBS | Buy | Buy | Maintain | Nov 4, 2025 |
| Baird | Outperform | Outperform | Maintain | May 1, 2025 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Aug 3, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Nov 2, 2022 |
| Cowen & Co. | Outperform | Market Perform | Upgrade | Jul 7, 2021 |
| Vertical Research | Hold | Buy | Downgrade | Mar 26, 2020 |
| Citi | Buy | Buy | Maintain | Aug 2, 2019 |
| Stifel Nicolaus | Hold | Hold | Maintain | Jul 15, 2019 |
| Northcoast Research | Buy | Neutral | Upgrade | Sep 13, 2018 |
| BMO Capital | Market Perform | Market Perform | Maintain | Aug 10, 2018 |
| Seaport Global | Neutral | Buy | Downgrade | Nov 3, 2017 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Jul 31, 2017 |
| SunTrust Robinson Humphrey | Neutral | Neutral | Maintain | Aug 1, 2016 |
| Nomura | Reduce | Neutral | Downgrade | Apr 4, 2016 |
| Maxim Group | Hold | Buy | Downgrade | Feb 22, 2016 |
| Susquehanna | Neutral | Neutral | Maintain | Feb 5, 2016 |
| BB&T Capital | Hold | Buy | Downgrade | Jul 27, 2015 |
| Oppenheimer | Perform | Outperform | Downgrade | Apr 17, 2015 |
| Barclays | Overweight | Overweight | Maintain | Apr 17, 2015 |
| Bank of America | Neutral | Buy | Downgrade | Jan 22, 2015 |
| DA Davidson | Neutral | Neutral | Maintain | Dec 15, 2014 |
| Wedbush | Outperform | Neutral | Upgrade | Oct 27, 2014 |
| CL King | Buy | Strong Buy | Downgrade | Jan 25, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $79.01. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Mizuho Securities | Analyst unavailable | $85 | $70.2 | +7.6% | Oct 15, 2026 |
| RBC Capital | Analyst unavailable | $94 | $75.8 | +19.0% | Jul 31, 2026 |
| Robert W. Baird | Analyst unavailable | $93 | $75.32 | +17.7% | Jul 31, 2026 |
| Stifel Nicolaus | Analyst unavailable | $94 | $75.32 | +19.0% | Jul 31, 2026 |
| Goldman Sachs | Analyst unavailable | $82 | $75.32 | +3.8% | Jul 30, 2026 |
| Stifel Nicolaus | Nathan Jones | $92 | $73.64 | +16.4% | May 1, 2026 |
| Goldman Sachs | Joe Ritchie | $83 | $73.64 | +5.0% | Apr 30, 2026 |
| Stifel Nicolaus | Nathan Jones | $102 | $84.48 | +29.1% | Apr 14, 2026 |
| Goldman Sachs | Joe Ritchie | $88 | $86.46 | +11.4% | Feb 9, 2026 |
| RBC Capital | Analyst unavailable | $96 | $86.72 | +21.5% | Feb 9, 2026 |
| Robert W. Baird | Analyst unavailable | $98 | $85.46 | +24.0% | Feb 9, 2026 |
| Mizuho Securities | Analyst unavailable | $91 | $85.46 | +15.2% | Feb 9, 2026 |
| Stifel Nicolaus | Analyst unavailable | $97 | $85.46 | +22.8% | Feb 9, 2026 |
| Stifel Nicolaus | Nathan Jones | $87 | $78.44 | +10.1% | Jan 23, 2026 |
| RBC Capital | Analyst unavailable | $83 | $76.5 | +5.0% | Jan 15, 2026 |
| Mizuho Securities | Analyst unavailable | $74 | $72.1 | -6.3% | Jan 5, 2026 |
| Goldman Sachs | Joe Ritchie | $80 | $71.82 | +1.3% | Dec 16, 2025 |
| Jefferies | Analyst unavailable | $85 | $72.46 | +7.6% | Dec 10, 2025 |
| UBS | Analyst unavailable | $82 | $71.85 | +3.8% | Nov 4, 2025 |
| Goldman Sachs | Joe Ritchie | $71 | $67.35 | -10.1% | Oct 30, 2025 |
| RBC Capital | Analyst unavailable | $76 | $67.68 | -3.8% | Oct 30, 2025 |
| Stifel Nicolaus | Nathan Jones | $84 | $67.55 | +6.3% | Oct 30, 2025 |
| Mizuho Securities | Brett Linzey | $60 | $51.62 | -24.1% | May 16, 2025 |
| Robert W. Baird | Michael Halloran | $66 | $54.14 | -16.5% | Oct 30, 2024 |
| Goldman Sachs | Joe Ritchie | $52 | $52.94 | -34.2% | Oct 29, 2024 |
| Mizuho Securities | Brett Linzey | $65 | $54.88 | -17.7% | Oct 17, 2024 |
| Robert W. Baird | Michael Halloran | $60 | $49.23 | -24.1% | Jul 31, 2024 |
| Goldman Sachs | Joe Ritchie | $46 | $49.23 | -41.8% | Jul 30, 2024 |
| Bank of America Securities | Andrew Obin | $60 | $50.89 | -24.1% | Jul 30, 2024 |
| Stifel Nicolaus | Nathan Jones | $58 | $51.19 | -26.6% | Jul 18, 2024 |
| Mizuho Securities | Brett Linzey | $53 | $47.45 | -32.9% | May 1, 2024 |
| Stifel Nicolaus | Nathan Jones | $53 | $46.38 | -32.9% | Apr 17, 2024 |
| Morgan Stanley | Analyst unavailable | $33 | $31.54 | -58.2% | Jan 6, 2023 |
| Citigroup | Analyst unavailable | $36 | $29.75 | -54.4% | Dec 9, 2022 |
| Morgan Stanley | Analyst unavailable | $37 | $31.58 | -53.2% | May 4, 2022 |
| Credit Suisse | Analyst unavailable | $38 | $30.85 | -51.9% | May 4, 2022 |
| Citigroup | Analyst unavailable | $38 | $30.77 | -51.9% | May 4, 2022 |
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Start freeCompany context
Snapshot as of publicationFlowserve Corporation is a global enterprise that specializes in the conception, creation, distribution, and upkeep of industrial equipment crucial for managing fluid movement. The company extends its reach across the United States, Europe, the Middle East, Africa, Asia, and other international markets. Its operations are structured into two principal divisions: the Flowserve Pump Division (FPD) and the Flow Control Division (FCD). The FPD segment provides a diverse range of pumping solutions, encompassing both custom-engineered and pre-configured pumps and systems, mechanical seals, auxiliary components, and essential replacement parts and upgrades. This division also delivers comprehensive post-sales support, including installation and initial setup, provision of seal system spare parts, repairs, advanced diagnostic services, performance re-rating and enhancement solutions, retrofit initiatives, precision machining, and asset management programs.…
Historical context
All FLS earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| GD General Dynamics Corporation | FY2026 Q3 · Calendar Q4 2026 | — | +0.8% | General Dynamics raises EPS outlook as backlog reaches $220 billion |
| MTZ MasTec, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.3% | +0.8% | MasTec posts record Q3 as power and data-center demand accelerates |
| RBC RBC Bearings Incorporated | FY2027 Q2 · Calendar Q4 2026 | — | -5.3% | RBC Bearings posts strong Q2 as capacity investments build |
| IR Ingersoll Rand Inc. | FY2026 Q3 · Calendar Q4 2026 | +18.5% | +0.2% | Ingersoll Rand raises FY2026 outlook as orders accelerate |
| VLTO Veralto Corporation | FY2026 Q3 · Calendar Q4 2026 | +8.3% | +9.8% | Veralto raises 2026 EPS outlook as water demand accelerates |
| CNI Canadian National Railway Company | FY2026 Q3 · Calendar Q4 2026 | — | +0.4% | CN pairs strong Q3 growth with productivity and network expansion |
Latest beats and misses
Who reports nextBeat on EPS
- WYFY2026 Q3 · October 29, 2026+128.3% EPS+3.0% move
- LNTFY2026 Q3 · October 29, 2026+16.0% EPS+1.4% move
- MTZFY2026 Q3 · October 29, 2026+0.3% EPS+0.8% move
- ERIEFY2026 Q3 · October 29, 2026+2.1% EPS+5.3% move
- IRFY2026 Q3 · October 29, 2026+18.5% EPS+0.2% move
- VLTOFY2026 Q3 · October 29, 2026+8.3% EPS+9.8% move
Get the FLS recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-13T20:17:12.434417+00:00
- FN2 earnings calendar · 2026-09-03T01:23:14.877038+00:00
- Polygon adjusted daily market bars · 2026-10-31T02:10:42.897214+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-31T02:10:42.894637+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-31. For educational purposes only; not investment advice.