Welcome to our dedicated page for Flowserve news (Ticker: FLS), a resource for investors and traders seeking the latest updates and insights on Flowserve stock.
Flowserve Corporation (NYSE: FLS) is a global leader in the design, manufacturing, and aftermarket servicing of comprehensive flow control systems. With over 19,000 employees spread across more than 60 countries, Flowserve leverages a rich heritage of over 220 years, built upon 50 world-renowned brands. This firm commitment has earned Flowserve a solid foundation of customer loyalty and equity around the world.
Flowserve's innovative solutions serve a myriad of industries, including oil and gas, power generation, chemical processing, water management, pharmaceuticals, and food processing. The company's extensive product range includes pumps, valves, seals, and services aimed at addressing complex flow control challenges. This makes Flowserve a pioneer in the development and application of advanced solutions to meet its clients' evolving needs.
The corporation is dedicated to providing precision-engineered equipment that ensures the efficient movement and protection of customer materials and processes. Notably, Flowserve operates a network of Quick Response Centers designed to offer aftermarket services such as installation, diagnostics, repair, and retrofitting. These centers play a crucial role in maintaining the operational efficiency and longevity of the equipment used in various industries.
Flowserve's financial health is robust, with significant revenue contributions from North America and Europe. The company's strategic partnerships and strong focus on R&D have enabled it to stay at the forefront of industry innovations. Recent accomplishments include advancements in sustainable practices and new product launches tailored to meet the increasing demand for eco-friendly solutions.
In summary, Flowserve Corporation stands out as a key player in the global market for flow control systems. Its dedication to quality, innovation, and customer satisfaction continues to drive its success and industry leadership.
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.
Flowserve Corporation (NYSE: FLS) will release its Q2 2021 earnings on August 5, post-market close. A conference call is scheduled for August 6 at 11 a.m. ET, featuring CEO Scott Rowe and management. Interested parties can access earnings materials and the call via the Investor Relations section of the company’s website. Flowserve specializes in fluid motion and control products, operating in over 55 countries, and is a major player in the oil, gas, chemical, and power sectors.
Flowserve Corporation (NYSE: FLS) announced that Amy Schwetz, senior vice president and CFO, will present at the Stifel 2021 Virtual Cross Sector Insight Conference on June 8 at 10:00 ET. The presentation will be available via webcast for shareholders and interested parties on the Flowserve website under the “Investor Relations” section. Flowserve is a global leader in fluid motion and control products, operating in over 55 countries and providing engineered pumps, seals, and valves.
Flowserve Corporation (NYSE: FLS) has announced a quarterly cash dividend of $0.20 per share, payable on July 9, 2021, to shareholders of record as of June 25, 2021. While Flowserve intends to continue regular quarterly dividends, future payments will be reviewed and declared at the Board's discretion. This announcement highlights the company's commitment to return value to shareholders amidst uncertainties, including those stemming from the ongoing global impacts of COVID-19 and fluctuating economic conditions.
Flowserve Corp. (NYSE: FLS) held its virtual 2021 Annual Meeting of Shareholders. Key announcements included the re-election of nine board members for another year and the election of David Roberts as Chairman, succeeding Roger Fix. Shareholders approved a 97% advisory vote on executive compensation and ratified PricewaterhouseCoopers as the independent auditor for 2021. An amendment to the Certificate of Incorporation regarding supermajority approval for business combinations was also passed. Final voting results will be disclosed in a subsequent Form 8-K.
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