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 reports news on flow control products and services for global infrastructure markets. The company produces engineered and industrial pumps, seals and valves, along with related flow management services, and operates in more than 50 countries serving industrial end markets such as oil and gas, chemical, power generation and water management.
Recurring Flowserve updates include quarterly operating results, margin and execution commentary tied to the Flowserve Business System, dividend actions, investor conference participation, board and leadership appointments, and material agreement or capital-structure disclosures.
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Flowserve Corporation (NYSE:FLS) will release its Q1 2023 earnings after the NYSE closes on May 1, 2023. A conference call is scheduled for May 2, 2023, at 11 a.m. ET, featuring CEO Scott Rowe and other management members. The call will provide insights into the company's financial performance and strategic initiatives. Shareholders can access the earnings materials and the conference call webcast through Flowserve's Investors page.
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.