Flowserve Corp - FLS STOCK NEWS

Flowserve Corporation (NYSE: FLS) has declared a quarterly cash dividend of $0.20 per share on its common stock. This dividend is set for payment on April 7, 2023, for shareholders of record by March 24, 2023. Flowserve aims to continue paying regular quarterly dividends; however, future amounts will be assessed and approved by the Board of Directors on an individual basis. The company operates in over 55 countries, providing fluid motion and control products and services.

Flowserve Corporation (NYSE: FLS) and Clariter have entered a strategic collaboration to advance the production of green petrochemicals from plastic waste. The partnership allows Flowserve to supply essential equipment for Clariter's chemical recycling facilities. Clariter's technology transforms plastic waste into high-quality oils, waxes, and solvents, promoting sustainability. Flowserve aims to enhance its growth through this venture, aligning with its diversification and decarbonization strategies. Both companies are committed to reducing plastic waste and further developing sustainable products. This collaboration signifies a substantial step towards a circular economy.

Flowserve Corporation (NYSE: FLS) reported strong fourth quarter earnings for 2022, with a reported EPS of $0.92 and adjusted EPS of $0.63. Bookings rose 14.2% year-over-year to $1.11 billion, while the full year saw bookings reach $4.45 billion, a 17.8% increase. The backlog at year-end was $2.74 billion, reflecting a 36.5% rise. The company expects revenue growth of 9.0% to 11% in 2023, with adjusted EPS guidance between $1.50 and $1.75. The recent acquisition of Velan is anticipated to strengthen Flowserve's 3D growth strategy, enhancing its product offerings in various markets.

Flowserve Corporation (NYSE:FLS), a leader in flow control products, has announced that CEO Scott Rowe will participate in a fireside chat at the 33rd Annual Pump, Valve and Water Systems Symposium in New York City, while CFO Amy Schwetz will speak at Citi’s 2023 Global Industrial Tech and Mobility Conference in Miami, Florida. Both discussions are scheduled for February 23, 2023. The webcast for Rowe’s session will be available live at 10:30 a.m. EST and Schwetz’s at 2:40 p.m. EST. More information can be found at Flowserve’s Investor Resources page.

Flowserve (NYSE:FLS) has reported preliminary fourth quarter 2022 financial results, expecting $1.1 billion in bookings and approximately $1 billion in revenues, which reflects a 13% increase year-over-year. Adjusted EPS is anticipated between $0.59 and $0.63. For 2023, Flowserve projects revenue growth of 9% to 11% and an Adjusted EPS range of $1.50 to $1.75. The company ended 2022 with approximately $435 million in cash, and plans to acquire Velan Inc. This acquisition is expected to close in Q2 2023 and is not included in 2023 guidance. The conference call for detailed results is scheduled for February 22, 2023.

Flowserve Corporation (NYSE: FLS) announced its acquisition of Velan Inc. for approximately $245 million. This all-cash transaction includes $209 million for Velan's outstanding equity and $36.3 million in debt. Velan's current revenues stand at $380 million with an EBITDA of $21 million. The acquisition is expected to enhance Flowserve's Flow Control Division through synergies and increased aftermarket revenues, contributing approximately $20 million in cost synergies within two years. The deal offers Velan shareholders a premium of 119% over the average price, reflecting a significant strategic move for Flowserve's growth.

Flowserve Corporation (NYSE:FLS) will supply over 400 pumps for Aramco's Jafurah project in Saudi Arabia, a key unconventional gas field. The contract's value is part of Flowserve's Q3 2022 backlog. Collaborating with three EPC companies, Flowserve will provide various pumps and sealing systems for crucial facilities, including gas treatment and sulfur removal. This project supports Saudi Arabia's carbon reduction goals and enhances Aramco's blue hydrogen initiatives. Flowserve's president emphasizes their commitment to this strategic partnership and future opportunities.

Flowserve Corporation (NYSE: FLS) has announced a quarterly cash dividend of $0.20 per share for its common stock, payable on January 13, 2023. Shareholders of record on December 30, 2022 will receive this dividend. The company intends to maintain regular quarterly dividends in the future, although future declarations will be at the Board's discretion. Flowserve specializes in fluid motion and control products and services, operating in over 55 countries.

Flowserve Corporation (NYSE: FLS) announced that CEO Scott Rowe will participate in a fireside chat at the 52nd Annual Baird Global Industrial Conference in Chicago, IL, on November 8, 2022, at 12:35 p.m. CST. A webcast of this discussion will be accessible to shareholders and the public via Flowserve's Investor Relations page. Flowserve is a prominent player in flow control products and services, operating in over 55 countries, delivering engineered pumps, seals, and valves.