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.
Flowserve Corporation (NYSE:FLS) will supply over 400 pumps for Aramco's Jafurah project in Saudi Arabia, a key unconventional gas field. The contract's value is part of Flowserve's Q3 2022 backlog. Collaborating with three EPC companies, Flowserve will provide various pumps and sealing systems for crucial facilities, including gas treatment and sulfur removal. This project supports Saudi Arabia's carbon reduction goals and enhances Aramco's blue hydrogen initiatives. Flowserve's president emphasizes their commitment to this strategic partnership and future opportunities.
Flowserve Corporation (NYSE: FLS) has announced a quarterly cash dividend of $0.20 per share for its common stock, payable on January 13, 2023. Shareholders of record on December 30, 2022 will receive this dividend. The company intends to maintain regular quarterly dividends in the future, although future declarations will be at the Board's discretion. Flowserve specializes in fluid motion and control products and services, operating in over 55 countries.
Flowserve Corporation (NYSE: FLS) announced that CEO Scott Rowe will participate in a fireside chat at the 52nd Annual Baird Global Industrial Conference in Chicago, IL, on November 8, 2022, at 12:35 p.m. CST. A webcast of this discussion will be accessible to shareholders and the public via Flowserve's Investor Relations page. Flowserve is a prominent player in flow control products and services, operating in over 55 countries, delivering engineered pumps, seals, and valves.
Flowserve Corporation (NYSE: FLS) reported strong third-quarter financial results, highlighted by bookings of $1.22 billion, a 34.2% increase year-over-year. Reported Earnings Per Share (EPS) was $0.29, benefiting from a below-the-line foreign exchange gain of $30 million. The company has a backlog of $2.6 billion, up 29.9% from the end of 2021, positioning it for growth. Flowserve announced an acquisition aimed at enhancing its 3D strategy focusing on hydrogen pumps. Looking forward, the company anticipates fourth-quarter EPS of at least $0.40 with an 8-10% revenue growth.
Flowserve Corporation (NYSE: FLS) and Chart Industries, Inc. (NYSE: GTLS) have entered into an agreement to advance hydrogen technology as a cleaner fuel source. Flowserve will acquire R&D from Chart related to liquid hydrogen fueling pumps and will become the sole manufacturer. These pumps will support more than 100 planned hydrogen fueling systems for fuel cell vehicles, set to roll out in California, Australia, and South Korea over the next five years. This partnership aligns with Flowserve's strategy for diversification and decarbonization.
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.