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 reported strong first quarter 2024 results with 180% and 45% increase in Reported and Adjusted EPS, respectively. Raised full-year 2024 Adjusted EPS guidance by almost 24% at the midpoint. Solid first quarter bookings of $1.04 billion. Adjusted Gross and Operating Margin increased by 130 and 260 basis points. Record first quarter Operating Cash Flow of $62 million. Backlog of $2.6 billion. Sales increased by $107.2 million. Flowserve aims to expand margins and create long-term value for customers, associates, and shareholders.
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