Flowserve (FLS) Climbs to Fresh High on Earnings Blowout

We recently published 10 Stocks Defying Wall Street Slump; 8 Hit Fresh Highs. Flowserve Corp. (NYSE:FLS) is one of the best-performing stocks on Thursday.

Flowserve rallied to a new all-time high on Wednesday, as investor sentiment was boosted by its impressive earnings performance and projections of raking in up to $20 million of annual free cash flow from the divestment of a subsidiary.

In intra-day trading, Flowserve Corp. (NYSE:FLS) soared to its highest 52-week price of $70.32 before trimming gains to end the day just up by 30.93 percent at $68.95 apiece.

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In an updated report, Flowserve Corp. (NYSE:FLS) said it achieved a 277 percent jump in attributable net income in the third quarter of the year, at $219 million versus $58 million in the same period last year.

Sales, on the other hand, inched up by 3.5 percent to $1.17 billion from $1.13 billion year-on-year.

For the full-year 2025 period, Flowserve Corp. (NYSE:FLS) also increased its outlook for adjusted EPS to a range of $3.40 to $3.50 from $3.25 to $3.40 previously.

However, it lowered expectations for total sales growth to 4 to 5 percent, from 5 to 6 percent previously; as well as organic sales growth to only around 2 percent from 3 to 4 percent prior.

On the same day, Flowserve Corp. (NYSE:FLS) announced the divestment of BW/IP – New Mexico, Inc., its wholly owned subsidiary which holds asbestos liabilities and related insurance assets, to an affiliate of Acorn Investment Partners.

The transaction is expected to close in the fourth quarter of 2025 and improve free cash flow by approximately $15 million to $20 million annually.

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Disclosure: None. This article is originally published at Insider Monkey.