Flowserve reported a 7.2% year over year decline in revenues Q3 as the pump system maker experienced reduced demand from the oil and mining sectors due in part due to the pandemic. That decline was nonetheless better than the 10.8% slide expected by analysts. CEO Scott Rowe has stated the firm is “optimistic that our markets have stabilized” and expects growth to return in 2021. U.S. seaborne imports linked to the firm have yet to recover with an 11.2% year over year drop in October following a 1.6% rise in Q3’20. Flowserve is also attempting to cut costs in its “highly fragmented” suppl...