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Damian Karras

Research Analyst at UBS

Damian Karas is an Executive Director and Wall Street Analyst at UBS Investment Bank specializing in equity research across the general sector, with a focus on industrial, energy, and capital equipment companies. He covers 27 stocks and has demonstrated a 63% success rate with an average return of 9.7% per rating across 103 ratings, ranking #1,980 out of 10,050 Wall Street analysts on TipRanks. His notable coverage includes companies such as Flowserve, Crane NXT, A.O. Smith Corporation, ITT, Lennox International, and Vontier, with his most profitable rating being a 98.1% return on SPX Corporation from April 2020 to April 2021. Karas joined UBS Investment Bank as Executive Director in November 2014 after holding roles as Associate in Equity Research at Nomura Securities (2013-2014), Assistant Vice President in Power & Gas Trading at Barclays Capital (2011-2013), and earlier positions in risk advisory and energy trading at other major financial institutions, bringing over 15 years of experience in capital markets and equity research.

Damian Karras's questions to FLOWSERVE (FLS) leadership

Question · Q3 2025

Damian Karras asked about the projected profitability of nuclear awards, considering historical industry competitiveness during mega growth cycles that led to slim OE margins. He also inquired about the asbestos transaction's impact on Flowserve's cost of financing and the company's plans for its newfound balance sheet flexibility.

Answer

Scott Rowe, Flowserve's President and CEO, explained the multi-year lifecycle of new nuclear reactors, emphasizing high barriers to entry due to extensive engineering and quality requirements, which makes it difficult for new suppliers. He stressed the importance of performance, delivery, and capacity. Amy Schwetz, Flowserve's CFO, added that the asbestos divestment is credit enhancing but not significantly impactful on financing costs. She highlighted increased capital allocation opportunities, including opportunistic share repurchases and M&A for growth, guided by strict value creation criteria.

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