The 2020 Mid-Year Economic Update_long

Flowserve Sales Down 12.5% in 2016

Fourth-quarter sales down 16.5 percent.

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.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.
Social Media Auto Publish Powered By :