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.
Overview of Flowserve Corporation
Flowserve Corporation is a globally recognized manufacturer and service provider specializing in engineered flow control systems, including pumps, valves, and seals. With a heritage of over 220 years, the company has evolved its precision-engineering expertise to meet the demanding requirements of industries such as oil and gas, chemical processing, power generation, water management, pharmaceuticals, and food processing. Leveraging a portfolio of world-renowned heritage brands, Flowserve’s innovations are grounded in a deep understanding of fluid dynamics and mechanical engineering, ensuring the safe and efficient handling of materials across various critical applications. Industry-specific keywords such as "engineered flow control", "industrial pumps", and "process optimization" illustrate Flowserve's commitment to technological excellence and resilient design.
Core Business Segments
The company operates through multiple business segments designed to address diverse market needs:
- Flow Process Division (FPD): This segment focuses on custom engineered pumps, pre-configured industrial pumps, pump systems, and a wide range of mechanical seals, auxiliary systems, and replacement parts. FPD is dedicated to creating tailored solutions that address the unique flow control challenges of each industry.
- Flow Control Division (FCD): Dedicated to engineered-to-order and configured-to-order isolation valves, control valves, and valve automation products, this segment reinforces Flowserve's ability to offer adaptable solutions for complex industrial processes.
- Other Segments: These include various elimination and additional services which further the company’s comprehensive approach to flow control and aftermarket service support.
Technological Innovation and Market Position
Flowserve Corporation stands out as an exemplar of innovation in the development and application of advanced flow control solutions. Through a meticulous focus on research and development, the company continually refines its products to meet the evolving demands of global industries. Its portfolio is characterized by precision engineering, reliability, and the ability to support the operational integrity of essential infrastructure. The integration of sophisticated design with robust manufacturing practices enables Flowserve to deliver products that not only optimize material flow but also enhance overall process safety.
Global Influence and Operational Excellence
Operating in more than 60 countries, Flowserve Corporation has established a formidable global presence. Its widespread network of manufacturing facilities, technical centers, and service operations ensure that clients receive prompt and effective support regardless of geographical location. This global reach underscores the company’s commitment to quality and operational excellence, making it a key player in a highly competitive market. The extensive expertise and talent employed by Flowserve contribute to its sustained reputation for reliable performance and enduring customer relationships.
Key Strengths and Value Proposition
Flowserve’s enduring reputation is built on a solid foundation of experience, innovation, and customer commitment. Key strengths include:
- Heritage and Expertise: Over two centuries of industry experience provide Flowserve with unique insights into the challenges and requirements of flow control systems.
- Comprehensive Product Range: The diverse portfolio of pumps, valves, seals, and related services enables the company to serve a wide variety of industries with tailored solutions.
- Aftermarket Services: A robust network of support and maintenance services ensures long-term reliability and operational continuity for customer installations.
- Technological Leadership: Continuous innovation in design and manufacturing processes solidifies Flowserve’s position as a trusted provider of advanced flow control solutions.
Understanding Flowserve in the Competitive Landscape
In a competitive market characterized by rapid technological advancements and stringent operational requirements, Flowserve Corporation distinguishes itself by combining heritage with state-of-the-art engineering. Its deeply integrated approach to product development and aftermarket services enables the company to adapt to evolving industry standards while maintaining a consistent focus on quality and performance. This comprehensive model serves not only to uphold Flowserve’s market position but also to set benchmarks for excellence within the flow control industry.
Investors and industry analysts can view Flowserve as a case study in how blending legacy experience with modern technological advancements can drive operational excellence and customer satisfaction. The company’s strategic segmentation into product and service areas ensures that every aspect of fluid handling is addressed, from initial system design to ongoing maintenance and support.
Flowserve Corporation (NYSE:FLS) announced the election of Thomas Okray to its board of directors and audit committee, effective April 12, 2023. Okray's extensive experience spans roles as CFO at Eaton Corporation, Grainger, and Advance Auto Parts, along with finance leadership positions at General Motors and Amazon. Scott Rowe, Flowserve's president and CEO, expressed optimism about Okray's potential contributions, emphasizing his insights into business innovation and strategic development. David Roberts, chairman of the board, highlighted that Okray's background will be vital for Flowserve's evolving focus on its 3D strategy. Okray holds a Bachelor of Science in chemical engineering and an MBA, indicating a strong educational foundation to support Flowserve’s objectives.
Flowserve Corporation (NYSE:FLS) has announced that CEO Scott Rowe will participate in a fireside chat at the 2023 Bank of America Global Research Global Industrials Conference in London on March 22, 2023. CFO Amy Schwetz will also attend the 17th Annual UBS Infrastructure and E&C Conference in Irving, TX on March 23, 2023. A live webcast of Rowe's presentation will be available on Flowserve’s Investor Resources page at 10:35 a.m. GMT. Flowserve is a leading provider of flow control products and services, operating in over 55 countries. For more information, visit www.flowserve.com.
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.
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