Flowserve Corporation - FLS STOCK NEWS

Flowserve Corporation (NYSE: FLS) has expanded its RedRaven industrial IoT service suite to include valve-specific capabilities, enhancing monitoring of flow control systems. This upgrade allows companies to proactively track valve health, reducing downtime by alerting users to performance deviations. The RedRaven system is manufacturer agnostic, facilitating compatibility with existing infrastructure at lower costs. This development aims to improve operational efficiency and support sustainability goals through better energy management and increased uptime.

Flowserve Corporation (NYSE: FLS) reported Q3 2021 earnings with an EPS of $0.38 and adjusted EPS of $0.29, impacted by supply chain challenges that deferred $60 million in revenue. Total bookings rose 13.1% year-over-year to $912 million, while backlog increased 6.2% to $1.97 billion. Sales dropped 6.3% to $866.1 million. The company revised its full-year guidance, lowering revenue expectations to a decline of 3.5% to 4.5%. Operating cash flow surged over 32% year-to-date to $151 million. CEO Scott Rowe emphasized improving project visibility and opportunities in energy transition projects.

Flowserve Corporation (NYSE: FLS) has announced it will release its third-quarter 2021 results on Wednesday, October 27, after NYSE close. A conference call is scheduled for Thursday, October 28, at 11 a.m. Eastern time, led by CEO Scott Rowe and management. Interested parties can access earnings materials and the webcast via the company’s investor relations section on their website. Flowserve specializes in fluid motion and control products, operating in over 50 countries, providing engineered pumps, seals, and valves.

Flowserve Corporation (NYSE:FLS) announced the amendment and restatement of its $800 million Revolving Credit Facility and the addition of a new $300 million Term Loan Facility. This Senior Credit Facility, managed by Bank of America and other lenders, includes a Sustainability-Linked Option that may reduce borrowing costs linked to ESG performance. The Term Loan supports refinancing of upcoming debt maturities and involves participation from a Minority-Owned Depository Institution in Texas, enhancing the company's financial flexibility and capital structure.

Flowserve Corporation (NYSE: FLS) announced a public offering of $500 million of 2.800% senior notes due 2032. The offering is set to close on September 23, 2021, pending customary conditions. Proceeds will be used to redeem existing senior notes with higher rates. The notes will be general senior unsecured obligations of the Company, ranking equally with other senior unsecured debts, with interest paid semi-annually starting January 15, 2022.

BofA Securities, J.P. Morgan, and Mizuho are the joint managers for this offering.

Flowserve Corporation (NYSE: FLS) announced that CEO Scott Rowe will present at the RBC Capital Markets Global Industrials Virtual Conference on September 9, 2021, from 12:20 to 12:50 CDT. The presentation will be accessible via webcast for shareholders and interested parties on Flowserve's website under the ‘Investor Relations’ section. With operations in over 55 countries, Flowserve is a leading provider of flow control products and services, specializing in pumps, seals, and valves.

Flowserve Corporation (NYSE: FLS) has announced a quarterly cash dividend of $0.20 per share on its outstanding common stock. This dividend is payable on October 8, 2021, to shareholders of record as of the close of business on September 24, 2021. The company indicates a commitment to pay regular quarterly dividends in the foreseeable future, although future dividends will be subject to review and approval by the Board. This announcement reflects the company's intent to provide returns to its shareholders while navigating current market challenges.

Flowserve Corporation (NYSE: FLS) reported its Q2 2021 financial results, showing a 17.9% increase in total bookings to $952.8 million, alongside an adjusted EPS of $0.37. Sales fell 2.9% year-over-year to $898.2 million, with original equipment sales down 6.1%. The company's backlog rose 5.1% to $1.95 billion. Flowserve raised its 2021 guidance for adjusted EPS to $1.45 - $1.65 and reiterated its outlook for energy transition investments. The financial community can access the Q2 results conference call on August 6, 2021.