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Flowserve Corporation - FLS STOCK NEWS

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.

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Flowserve (NYSE: FLS) has acquired cryogenic Liquefied Natural Gas (LNG) submerged pump technology from NexGen Cryogenic Solutions, Inc. This acquisition includes intellectual property and in-process R&D related to LNG pump and cold energy recovery turbine (CERT) technology for liquefaction, shipping, and regasification markets. The move is expected to expand Flowserve's LNG product portfolio and complement its existing offerings.

The acquisition aligns with Flowserve's 3D growth strategy to diversify, decarbonize, and digitize. It aims to strengthen the company's decarbonization offerings across the LNG value chain. Flowserve plans to leverage its new state-of-the-art LNG pump facility and network of quick response centers to commercialize this technology.

The transaction closed in Q3 2024 and is expected to reduce Flowserve's adjusted earnings per share by $0.05 in that quarter.

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Flowserve (NYSE:FLS), a key player in the flow control products and services sector, is set to release its second quarter 2024 financial results after the NYSE closes on Monday, July 29. A conference call with the financial community will be held the next day, July 30, at 10 a.m. Eastern time, hosted by President and CEO Scott Rowe and other management members. Shareholders and interested parties can access the earnings materials and webcast through Flowserve’s Investors page.

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Flowserve (NYSE: FLS), a leading provider of flow control products, has partnered with Germany's Heide Refinery to implement Flowserve’s Energy Advantage Program. This collaboration aims to enhance energy efficiency and reduce carbon emissions. The program’s first phase projects a reduction in power consumption by over 2,000 MWh annually, translating to a savings of 1,300 metric tons of CO2. The partnership will focus on optimizing pump and valve power consumption with minimal disruption to existing processes. Flowserve's initial assessment identified potential savings in Heide Refinery’s highest energy-consuming flow loops. This initiative is part of Heide's effort to provide reliable energy while reducing its environmental impact. The success of the pilot phase has encouraged both companies to expand the program to other areas within the plant.

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Flowserve (NYSE:FLS), a top provider of flow control products and services for global infrastructure markets, announced its participation in two key investor events. On June 5, 2024, Flowserve will attend the Stifel 2024 Cross Sector Insight Conference, where CEO Scott Rowe will engage in investor meetings and a fireside chat at 9:45 a.m. EDT. The following day, June 6, 2024, Flowserve will take part in the Deutsche Bank 15th Annual Global Industrials, Materials & Building Products Conference in New York City, conducting individual investor meetings. Both events aim to provide insights into Flowserve's business and strategic direction. The June 5 fireside chat will be accessible via a live webcast on Flowserve’s Investors Page, with a replay available afterward.

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Flowserve (NYSE: FLS) announced that its Board of Directors has authorized a quarterly cash dividend of $0.21 per share. This dividend will be paid on July 12, 2024, to shareholders of record as of June 28, 2024. The company focuses on providing flow control products and services for global infrastructure markets. While Flowserve aims to maintain regular quarterly dividends, future payments will be reviewed and declared individually by the Board at its discretion.

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Flowserve Corp. (NYSE: FLS) held its 2024 Annual Meeting of Shareholders virtually on May 16, 2024. Shareholders elected 11 directors to serve until the 2025 meeting. An advisory vote on executive compensation passed with 94.6% approval, and PricewaterhouseCoopers LLP was ratified as the independent auditor for 2024. The Employee Stock Purchase Plan was overwhelmingly approved with 99.9% in favor. A shareholder proposal on political spending was rejected by 73.7% of voters. Detailed voting results will be available in a Form 8-K filing.

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Flowserve (FLS) has released its 2023 ESG Report, highlighting its achievements in reducing carbon intensity, supporting communities, and developing sustainable products. The report showcases the company's success in achieving its carbon intensity reduction goal of 40% by 2030, surpassing it by reducing 46% in 2023. Flowserve also contributed over $700,000 to various causes through Flowserve Cares, received recognition for its environmental efforts, and achieved ISO 27001 certification for its cybersecurity program. The company's focus on its 3D strategy has led to the introduction of new products supporting sustainability initiatives.

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Flowserve (NYSE:FLS) will participate in upcoming investor conferences such as Oppenheimer's 19th Annual Industrial Growth Conference, BofA Securities 31st Annual Transportation, Airlines and Industrials Conference, and TD Cowen 2nd Annual Sustainability Week. The President and CEO, Scott Rowe, will take part in fireside chats during these events, providing valuable insights to shareholders and interested parties.

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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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Flowserve (NYSE: FLS) secured two major project awards totaling over $150 million from international EPC contractors in the Middle East. These awards will be reflected in the company's 2nd Quarter Results. Flowserve's robust project funnel indicates potential growth opportunities for the company in 2024 and 2025, along with expectations for increased aftermarket and MRO work. The company's President and CEO, Scott Rowe, expressed confidence in Flowserve's ability to deliver these projects successfully and highlighted the organization's strategic approach to project bidding. Flowserve remains optimistic about its position in the Middle East's infrastructure market and anticipates continued participation in upcoming projects across various industries.
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FAQ

What industries does Flowserve serve?

Flowserve serves various industries including oil and gas, power generation, chemical processing, water management, pharmaceuticals, and food processing.

What products does Flowserve offer?

Flowserve offers a wide range of products such as pumps, valves, seals, and provides services for flow control systems.

Where is Flowserve headquartered?

Flowserve's headquarters are located in Irving, Texas, USA.

How many employees does Flowserve have?

Flowserve employs over 19,000 people across more than 60 countries.

What are Flowserve’s key markets?

Flowserve’s key markets include North America and Europe, which contribute significantly to its total revenue.

Does Flowserve provide aftermarket services?

Yes, Flowserve provides aftermarket services such as installation, diagnostics, repair, and retrofitting through its network of Quick Response Centers.

How long has Flowserve been in business?

Flowserve has a rich heritage spanning over 220 years, built on more than 50 renowned brands.

What is Flowserve’s commitment to innovation?

Flowserve is committed to continuous innovation in flow control solutions, focusing on sustainable practices and advanced technologies.

What type of flow control systems does Flowserve manufacture?

Flowserve manufactures comprehensive flow control systems including precision-engineered equipment to monitor movement and protect customers' materials and processes.

How does Flowserve support its customers?

Flowserve supports its customers with a range of services from product installation to advanced diagnostics, repair, and retrofitting, ensuring operational efficiency and longevity.

Flowserve Corporation

NYSE:FLS

FLS Rankings

FLS Stock Data

6.70B
131.65M
0.46%
99.24%
1.44%
Pump and Pumping Equipment Manufacturing
Manufacturing
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United States of America
IRVING