Earnings Call Summary | Flowserve(FLS.US) Q4 2023 Earnings Conference
Earnings Call Summary | Flowserve(FLS.US) Q4 2023 Earnings Conference
The following is a summary of the Flowserve Corporation (FLS) Q4 2023 Earnings Call Transcript:
以下是Flowserve Corporation（FLS）2023年第四季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Flowserve Corporation reported a robust annual revenue growth of nearly 20% and an increase in full-year earnings per share (EPS) by 90% due to improved adjusted gross and operating margins.
The company's Q4 sales led to their highest quarterly sales level since 2015, recording a 12% Y-o-Y increase.
Q4 operating cash flow stood at $195 million, marking a significant improvement of $125 million.
Adjusted gross margins rose by 100 basis points to 29.8% in Q4, compared to the same quarter last year.
Bookings for the year amounted to $4.25 billion, pushing the year-end backlog to $2.7 billion.
Full-year 2023 EPS reached $2.10, while Q4 EPS was $0.68.
Flowserve Corporation报告称，由于调整后的毛利率和营业利润率的提高，年收入强劲增长了近20％，全年每股收益（EPS）增长了90％。
该公司第四季度的销售额创下了自2015年以来的最高季度销售水平，同比增长12％。
第四季度运营现金流为1.95亿美元，显著改善了1.25亿美元。
与去年同期相比，第四季度调整后的毛利率增长了100个基点至29.8％。
该年度的预订量为42.5亿美元，使年底的积压量达到27亿美元。
2023年全年每股收益达到2.10美元，而第四季度每股收益为0.68美元。
Business Progress:
业务进展：
Flowserve's growth was fueled by increased backlog conversion and significant operational progress.
Despite the Full-year 2023 book-to-bill ratio being below 1.0x, the backlog for 2024 remains healthy at $2.7 billion.
The company shifted focus on its 3D strategy: Diversify, Decarbonize, Digitize, which contributed to bookings growth in 2023 and is expected to drive further growth.
The company also continued the development of their RedRaven technology, now employed at over 80 customer locations.
Ambitious targets for 2024 have been set by Flowserve including 4%-6% revenue growth, more than 100 basis points adjusted operating margin improvement, and around 20% adjusted EPS growth.
Flowserve announced a 5% increase to dividend to $0.21 per share and replenished their authorized share repurchase capacity to $300 million.
The company also plans to invest in M&A opportunities and anticipate a full year's revenue growth of 4% to 6% for 2024.
Flowserve的增长是由待办事项转化率的增加和显著的运营进展推动的。
尽管2023年全年账面账单比率低于1.0倍，但2024年的积压量仍保持在27亿美元。
该公司将重点转移到了其 3D 战略上：多元化、脱碳、数字化，这推动了 2023 年的预订量增长，预计将推动进一步增长。
该公司还继续开发其RedRaven技术，该技术现已在80多个客户地点使用。
Flowserve设定了2024年的雄心勃勃的目标，包括收入增长4％-6％，调整后的营业利润率提高超过100个基点，调整后的每股收益增长约20％。
Flowserve宣布将股息提高5％，至每股0.21美元，并将其授权股票回购能力补充至3亿美元。
该公司还计划投资并购机会，并预计2024年全年收入将增长4％至6％。
More details: Flowserve IR
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