Welcome to our dedicated page for Flowserve Corporation news (Ticker: FLS), a resource for investors and traders seeking the latest updates and insights on Flowserve Corporation 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) has secured a contract to supply 5,000 industrial process pumps to TMGcore, a Texas-based provider of high-performance computing solutions. These pumps will be utilized in patented immersion cooling units designed to enhance energy efficiency and manage higher heat loads in data centers. This collaboration signifies Flowserve's commitment to innovative technologies and sustainability. The partnership aligns with Flowserve's strategy to diversify and digitize its market presence, showcasing the company's capabilities in supporting advanced cooling technologies.
Flowserve Corporation (NYSE: FLS) announced CEO Scott Rowe's participation in multiple upcoming industry conferences, including the Cowen Sustainability & Energy Transition Summit on June 8 and the Stifel 2022 Boston Cross Sector Insight Conference on June 9. Additionally, Flowserve management will meet at the UBS Global Industrials and Transportation Conference on June 7. Webcasts of these discussions will be available for shareholders on their website.
Flowserve is a leading provider of flow control products, operating in over 55 countries.
Flowserve Corporation (NYSE: FLS) has announced a quarterly cash dividend of $0.20 per share, payable on July 8, 2022, to shareholders of record as of June 24, 2022. The company intends to maintain regular quarterly dividends, though any future dividends will be at the Board's discretion. Flowserve is a major player in flow control products and services, operating in over 55 countries, providing engineered and industrial pumps, seals, valves, and flow management services.
Flowserve Corp. (NYSE: FLS) announced key outcomes from its 2022 Annual Meeting of Shareholders held virtually in Dallas. Roger L. Fix was not nominated for re-election due to retirement age restrictions. Shareholders re-elected several board members, including R. Scott Rowe, and ratified PricewaterhouseCoopers LLP as the independent auditor for 2022. Notably, an advisory vote on executive compensation was rejected by approximately 77%, indicating shareholder dissent. Additionally, a proposal to lower the ownership threshold for special shareholder meetings was also voted down, receiving around 54.8% opposition.
Flowserve Corporation (NYSE: FLS) has secured a contract to supply control and ball valves for OMV's chemical recycling demonstration plant in Schwechat, Austria. This facility will utilize OMV's ReOil® technology to transform plastic waste into synthetic feedstock, with an annual capacity of 16,000 tons, and is expected to be operational in 2023. A permanent industrial-scale plant is planned for 2026. Flowserve aims to support customers in reducing carbon emissions, promoting a circular economy in plastics, and driving decarbonization efforts.
Flowserve Corporation (NYSE: FLS) reported a strong performance in Q1 2022 with bookings of $1.09 billion, up 14.9% year-over-year, the highest since Q2 2019. Backlog reached $2.23 billion, an increase of 11.3% since year-end 2021. However, they reported a Loss Per Share of $0.12, mainly due to write-downs related to exiting Russian operations. Adjusted EPS stood at $0.07, affected by supply chain issues and Omicron-related labor shortages. The company revised its 2022 guidance down for revenue growth and EPS, citing logistic constraints and the impact of exiting Russia.
Flowserve Corporation (NYSE: FLS) will release its Q1 2022 financial results on May 2, 2022, post-market close. A conference call with management, including CEO Scott Rowe, is scheduled for May 3, 2022, at 11 a.m. Eastern time. Stakeholders can access earnings materials and the call via the Investor Relations section of Flowserve's website. The company is a key player in fluid motion and control products, serving diverse global industries.
Flowserve Corporation (NYSE: FLS) has secured a contract to supply control valves for Norway’s first cross-border carbon capture and storage facility, set for completion in 2024. This innovative facility aims to significantly contribute to decarbonization efforts in Europe, potentially storing the equivalent of 1,000 years of Norwegian emissions. Flowserve intends to leverage its 3D growth strategy—diversifying, decarbonizing, and digitizing—to capitalize on market opportunities associated with climate change mitigation.
Flowserve Corporation (NYSE: FLS) has announced a non-exclusive partnership with Gradiant to enhance water and wastewater treatment solutions. The collaboration aims to combine Flowserve’s flow control products with Gradiant’s advanced water treatment technology, focusing on sustainable operations in the Asia Pacific and Americas regions. Flowserve, with over 200 years of experience, is upgrading its offerings, including the introduction of the H2O+ submersible pump and the RedRaven IoT platform. This initiative supports Flowserve's sustainability goals while expanding its market reach.
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