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) reported its third quarter 2020 financial results, revealing a 21.2% drop in total bookings, totaling $806.1 million. Sales decreased by 7.2% to $924.3 million. The company achieved an EPS of $0.39 and an adjusted EPS of $0.50. Despite a challenging environment, Flowserve successfully met its $100 million cost savings target and launched new products. Management is optimistic about market recovery in 2021 as the COVID-19 pandemic stabilizes, although previous guidance for the year has been withdrawn.
Flowserve Corporation (NYSE: FLS) plans to release its third quarter 2020 results on November 5, after NYSE market close. A conference call with management is scheduled for November 6 at 11 a.m. Eastern time, featuring insights from CEO Scott Rowe. Investors can access the earnings materials and call via the Investor Relations section on Flowserve's website. The company, which operates globally, specializes in fluid motion and control products. Forward-looking statements in the release indicate various risks including order cancellations and economic conditions.