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.
Flowserve Corporation (NYSE: FLS) is a manufacturer of fluid motion and flow control products and services, and its news flow reflects activity across energy, chemical, power generation and other infrastructure-related markets. Company press releases and Form 8-K filings highlight developments in its engineered and industrial pumps, valves, seals and flow management services, as well as strategic moves that affect its business profile.
On this page, readers can follow FLS news related to quarterly earnings results, bookings and segment performance, including updates from the Flowserve Pumps Division and Flow Control Division. Flowserve regularly reports on bookings, sales, margins, cash from operations and guidance, and it uses non-GAAP measures such as adjusted earnings per share to discuss underlying trends in its business.
Flowserve’s news also covers strategic transactions, such as the acquisition of Greenray Turbine Solutions, Ltd., a provider of aftermarket products and services for industrial gas turbines, and the divestiture of BW/IP – New Mexico, Inc., a subsidiary holding legacy asbestos liabilities and related insurance assets. Other releases describe portfolio adjustments, including the transfer of a herringbone gear pump product line to CIRCOR International under an asset transaction.
Investors and followers of FLS can track capital allocation updates, including announcements of quarterly cash dividends and commentary on how divestitures and cash flows may influence future investment priorities. Governance and leadership changes, such as the appointment of a new president for the Flow Control Division or decisions by directors regarding re-election, are also disclosed through news releases and corresponding Form 8-K filings.
By reviewing the Flowserve news feed, users can see how the company communicates about its operating performance, risk factors, international exposure and strategic priorities within the pump and pumping equipment manufacturing industry.
Flowserve Corporation (NYSE: FLS) announced it will release Q3 2022 earnings on October 31, following NYSE close. A conference call with management, including CEO Scott Rowe, will take place on November 1 at 11 a.m. ET to discuss the results. Investors can access the earnings materials and listen to the call via the company's Investor Relations page. Flowserve is a global leader in flow control products and services, operating in over 55 countries.
Flowserve Corporation (NYSE: FLS) announced a contract to provide vertical turbine pumps for the West Kauai Energy Project in Hawaii, aimed at achieving zero carbon emissions. This initiative aligns with Hawaii's goal of 100% renewable energy by 2045. The project will help meet Kauai's electricity needs and improve energy storage capabilities significantly. Flowserve's pumps are crucial for the project's hydropower and storage components, allowing for extended renewable energy usage without sunlight. This partnership reflects Flowserve's commitment to supporting energy transition initiatives.
Flowserve Corporation (NYSE: FLS) has launched the FLEX™ Isobaric Energy Recovery Device, a compact pressure exchanger designed for reverse osmosis plants. This device recovers over 98% of hydraulic energy, reducing the costs associated with desalination. Flowserve aims to expand its presence in the desalination market while advancing sustainable solutions. The FLEX’s simple design allows for remote monitoring via Flowserve’s RedRaven IoT platform. Successful pilots in multiple plants have already demonstrated its tangible benefits.
Flowserve Corporation (NYSE: FLS) announced participation in the online film series Beneath the Surface by the International Water Association and BBC StoryWorks. The film highlights Flowserve's role in the Netherlands' flood management strategy, showcasing their engineering of large concrete volute pumps essential for protecting millions from floods. CEO Scott Rowe emphasized the company's commitment to water preservation through their growth strategy focusing on diversification, decarbonization, and digitization.
Flowserve Corporation (NYSE: FLS) announced that its third quarter earnings per share (EPS) will be negatively affected by approximately 18 to 22 cents due to unforeseen issues, including challenges with a new enterprise resource planning (ERP) system and increased corporate expenses. Despite this, the company expects bookings to exceed $1 billion for the third consecutive quarter, driven by strong demand in traditional and energy transition markets. Flowserve is optimistic about recovering lost volumes and anticipates significant improvements in fourth quarter results.
Flowserve Corporation (NYSE: FLS) announced that Scott Rowe, CEO, will participate in a fireside chat at the Morgan Stanley Laguna Conference on September 15 at 2:35 PM PDT. Additionally, management will attend the RBC Capital Markets Global Industrial Conference on September 14. A webcast of the chat will be available for shareholders at www.flowserve.com under the Investor Relations section. Flowserve is a top provider of fluid motion and control products, operating in over 55 countries.
Flowserve Corporation (NYSE: FLS) announced a quarterly cash dividend of $0.20 per share, payable on October 14, 2022, to shareholders of record as of September 30, 2022. This move reflects the company’s ongoing commitment to return value to shareholders. While Flowserve intends to maintain regular quarterly dividends, future payments will be subject to review and discretion by the Board of Directors. Flowserve is a key player in fluid motion and control products, operating in over 55 countries.
Flowserve Corporation (NYSE: FLS) announced the election of Ken Siegel as an independent director and member of the Audit Committee and Finance and Risk Committee, effective August 16, 2022. Siegel's extensive background in corporate development, mergers and acquisitions, and strategic planning is expected to enhance Flowserve's growth strategy focused on Diversification, Decarbonization, and Digitization. He holds significant experience from Loews Corporation and has served in top roles at Barclays Capital and Lehman Brothers. His appointment aims to drive profitability and long-term value creation for shareholders.
Flowserve reported a strong financial performance for Q2 2022, with total bookings of $1.04 billion, an increase of 9.6% year-over-year. The company achieved a backlog of $2.32 billion, the highest since Q3 2015, indicating future growth potential. Adjusted earnings per share (EPS) were $0.30, surpassing expectations. However, despite these positive metrics, total sales declined by 1.8% to $882.2 million. Management anticipates continued demand, particularly in the energy sector, while noting that a strong dollar may impact full-year revenue guidance.
Flowserve Corporation (NYSE: FLS) has launched a new Learning Resource Center at Lamar University in Beaumont, Texas. This center aims to enhance customer engagement and provide students with hands-on experience with Flowserve's innovative flow control products. Certified trainers will conduct product demonstrations and simulations, offering participants the chance to earn professional development credits. This initiative strengthens Flowserve's connection with customers, particularly in the Gulf Coast region of Texas and Louisiana.