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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) has announced a quarterly cash dividend of $0.20 per share, payable on July 8, 2022, to shareholders of record as of June 24, 2022. The company intends to maintain regular quarterly dividends, though any future dividends will be at the Board's discretion. Flowserve is a major player in flow control products and services, operating in over 55 countries, providing engineered and industrial pumps, seals, valves, and flow management services.
Flowserve Corp. (NYSE: FLS) announced key outcomes from its 2022 Annual Meeting of Shareholders held virtually in Dallas. Roger L. Fix was not nominated for re-election due to retirement age restrictions. Shareholders re-elected several board members, including R. Scott Rowe, and ratified PricewaterhouseCoopers LLP as the independent auditor for 2022. Notably, an advisory vote on executive compensation was rejected by approximately 77%, indicating shareholder dissent. Additionally, a proposal to lower the ownership threshold for special shareholder meetings was also voted down, receiving around 54.8% opposition.
Flowserve Corporation (NYSE: FLS) has secured a contract to supply control and ball valves for OMV's chemical recycling demonstration plant in Schwechat, Austria. This facility will utilize OMV's ReOil® technology to transform plastic waste into synthetic feedstock, with an annual capacity of 16,000 tons, and is expected to be operational in 2023. A permanent industrial-scale plant is planned for 2026. Flowserve aims to support customers in reducing carbon emissions, promoting a circular economy in plastics, and driving decarbonization efforts.
Flowserve Corporation (NYSE: FLS) reported a strong performance in Q1 2022 with bookings of $1.09 billion, up 14.9% year-over-year, the highest since Q2 2019. Backlog reached $2.23 billion, an increase of 11.3% since year-end 2021. However, they reported a Loss Per Share of $0.12, mainly due to write-downs related to exiting Russian operations. Adjusted EPS stood at $0.07, affected by supply chain issues and Omicron-related labor shortages. The company revised its 2022 guidance down for revenue growth and EPS, citing logistic constraints and the impact of exiting Russia.
Flowserve Corporation (NYSE: FLS) will release its Q1 2022 financial results on May 2, 2022, post-market close. A conference call with management, including CEO Scott Rowe, is scheduled for May 3, 2022, at 11 a.m. Eastern time. Stakeholders can access earnings materials and the call via the Investor Relations section of Flowserve's website. The company is a key player in fluid motion and control products, serving diverse global industries.
Flowserve Corporation (NYSE: FLS) has secured a contract to supply control valves for Norway’s first cross-border carbon capture and storage facility, set for completion in 2024. This innovative facility aims to significantly contribute to decarbonization efforts in Europe, potentially storing the equivalent of 1,000 years of Norwegian emissions. Flowserve intends to leverage its 3D growth strategy—diversifying, decarbonizing, and digitizing—to capitalize on market opportunities associated with climate change mitigation.
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Flowserve Corporation (NYSE: FLS) has announced a non-exclusive partnership with Gradiant to enhance water and wastewater treatment solutions. The collaboration aims to combine Flowserve’s flow control products with Gradiant’s advanced water treatment technology, focusing on sustainable operations in the Asia Pacific and Americas regions. Flowserve, with over 200 years of experience, is upgrading its offerings, including the introduction of the H2O+ submersible pump and the RedRaven IoT platform. This initiative supports Flowserve's sustainability goals while expanding its market reach.
Flowserve Corporation (NYSE: FLS) has announced its new Energy Advantage program designed to help customers achieve carbon reduction goals and lower ownership costs. This comprehensive program includes engineering expertise, a data-driven evaluation process, and a range of products and services aimed at enhancing energy efficiency in flow control systems. The program has already demonstrated positive results, such as 34% improved energy consumption through recent projects. CEO Scott Rowe emphasized the company's commitment to sustainable solutions as industries transition to cleaner energy.
Flowserve Corporation (NYSE: FLS) announced its Q4 and full year 2021 financial results, reporting a Q4 EPS of $0.13 and adjusted EPS of $0.45. Full year EPS stood at $0.96 and $1.38 adjusted. Bookings surged 17.5% YoY to $969 million, contributing to a total of $3.77 billion for the year, up 10.6%. The year-end backlog increased by 8% to $2 billion, setting a robust foundation for growth in 2022. The company expects a revenue growth of 7% to 9% for 2022, with guidance EPS between $1.65 and $1.90, despite challenges posed by the Omicron variant and supply chain issues.