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SPX FLOW, Inc. (NYSE: FLOW) has secured a deal to provide its Ultra High Temperature (UHT) technology to a leading Middle Eastern dairy producer. This follows the recent establishment of a new Technology Center in Dubai, enhancing R&D and processing capabilities. The dairy customer will implement two UHT process lines and additional equipment including valves and homogenizers. SPX FLOW's UHT technology, notably the InfusionPlus system, offers superior temperature retention, improving product shelf life without compromising taste and quality.
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SPX FLOW, Inc. (NYSE: FLOW) has introduced a new shipping method for its popular Lightnin mixers, specifically the Series 10 model, utilizing a Shrink-Wrap Wood Alternative. This innovation is aimed at enhancing safety, sustainability, and cost-effectiveness. Key benefits include a 95% reduction in shipment weight, elimination of 47,000 nails per year, and significant reductions in material costs by 68%. Additionally, it is projected to save approximately 650 trees annually. This initiative aligns with SPX FLOW's commitment to Environmental, Social, and Governance (ESG) principles.
SPX FLOW, Inc. (NYSE: FLOW), based in Charlotte, N.C., has provided its advanced mixing technology to Henkel at its Környe, Hungary site. The latest installation includes a mixing tank solution along with heavy-duty valves and an automation system. This marks the sixth production line SPX FLOW has supplied to Henkel, reflecting a strong partnership built on reliability and performance. SPX FLOW reported approximately $1.4 billion in annual revenues for 2020 and operates in over 30 countries.
SPX FLOW (NYSE: FLOW) reported strong Q3 2021 results, with revenues reaching $389.6 million, a 9.2% increase year-over-year. Operating income rose 24.1% to $39.2 million, driven by robust demand and a value-based pricing strategy. The company expects adjusted operating margins of approximately 14.5% for Q4 and raised organic revenue growth expectations for 2021 to high-single digits. Additionally, the Board is reviewing strategic alternatives, including a potential sale or merger. Overall, the company is focused on improving customer outcomes and reinvesting in earnings growth.
SPX FLOW, a leader in process solutions for various markets, will announce its third quarter 2021 results on November 10, 2021. The financial results will be discussed during a conference call at 8 a.m. EST, led by President and CEO Marc Michael and CFO Jaime Easley. Interested participants can dial in five minutes before the call or join via webcast on the company's website. SPX FLOW reported approximately $1.4 billion in annual revenues for 2020 and operates in over 30 countries.
SPX FLOW, Inc. (NYSE: FLOW), headquartered in Charlotte, N.C., has declared a quarterly dividend of $0.09 per share. This dividend is payable on October 13, 2021, to stockholders of record by September 30, 2021. SPX FLOW reported approximately $1.4 billion in annual revenues for 2020 and operates globally in over 30 countries, servicing various markets including nutrition and health. This dividend reflects the company's commitment to returning value to shareholders.
Ingersoll Rand Inc. (NYSE:IR) has announced it will not participate in the strategic alternatives process of SPX FLOW, Inc. (NYSE:FLOW) initiated on July 26, 2021. The company emphasized its commitment to a comprehensive capital allocation strategy focused on mergers and acquisitions (M&A). A capital allocation strategy call is planned for September 2, 2021, at 8 a.m. Eastern Time to provide further insights. The company aims to enhance growth through a robust M&A funnel.
SPX FLOW, Inc. (NYSE: FLOW) reported strong Q2 2021 results with revenues of $381.6 million, a 23.9% increase year-over-year. Operating income rose 103.5% to $28.9 million. Notably, adjusted operating income grew 60.5% to $42.7 million. The company achieved a backlog increase of 11.4%, largely due to acquisitions and foreign exchange effects. Forward-looking, SPX FLOW anticipates mid-single-digit organic revenue growth for 2021, driven by strategic initiatives aimed at improving margins and capital efficiency, alongside plans for continued shareholder returns.
SPX FLOW, Inc. (NYSE: FLOW) announced on July 26, 2021, that its Board of Directors is exploring strategic alternatives including a potential sale or merger, following a rejected unsolicited acquisition offer from Ingersoll Rand (NYSE: IR) for $85.00 per share. The Board believes the offers undervalue the company, which reported $1.4 billion in revenue in 2020. With guidance from Morgan Stanley and Winston & Strawn, SPX FLOW aims to engage with interested parties to maximize shareholder value. No further comments will be made until the review is concluded.