Flowserve Corp Stock Price, News & Analysis

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.

Flowserve Corporation (NYSE: FLS) will release its second quarter 2022 results after NYSE trading on July 27. A conference call is scheduled for July 28 at 11 a.m. ET featuring CEO Scott Rowe and management. Earnings materials will be accessible on Flowserve's website www.flowserve.com.

Flowserve is a global leader in flow control products, producing pumps, seals, and valves across over 50 countries. The company emphasizes a focus on strategic transformation and is subject to various market risks.