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Flowserve Corp. (NYSE: FLS), Dallas, TX, reported sales for 2016 of $4 billion, a decrease of 12.5 percent from the previous year. Profit decreased 45.8 percent to $145.1 million from the previous year.
Fourth-quarter sales were $1.1 billion, a decrease of 16.5 percent from the same period the previous year. Profit decreased 8.7 percent to $65.1 million.
“While we are cautiously optimistic that certain energy and industrial customers’ budgets may improve off current low levels, we are not anticipating a recovery in our 2017 planning due to continued geopolitical, end market and macro uncertainties,” said Mark Blinn, Flowserve’s president and CEO.