Annuncio • Jan 28
Flowserve Corporation to Report Q4, 2024 Results on Feb 18, 2025 Flowserve Corporation announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Feb 18, 2025 Annuncio • Dec 17
Flowserve Corporation Announces Quarterly Cash Dividend, Payable on January 10, 2025 Flowserve Corporation announced that its Board of Directors has authorized a quarterly cash dividend of $0.21 per share on the company's outstanding shares of common stock. The dividend is payable January 10, 2025, to shareholders of record as of the close of business on December 27, 2024. While Flowserve currently intends to pay regular quarterly cash dividends for the foreseeable future, any future dividends, at this $0.21 per share rate or otherwise, will be reviewed individually and declared by the Board of Directors at its discretion. Annuncio • Oct 29
Flowserve Corporation Reaffirms Earnings Guidance for the Year 2024 Flowserve Corporation reaffirmed earnings guidance for the year 2024. The company reaffirmed Revenue Growth Up 4.0% to 6.0% and reported earnings per share to be $2.15 to $2.35. Annuncio • Oct 18
Flowserve Corporation to Report Q3, 2024 Results on Oct 28, 2024 Flowserve Corporation announced that they will report Q3, 2024 results After-Market on Oct 28, 2024 Annuncio • Oct 17
Flowserve Corporation (NYSE:FLS) acquired Mogas Industries, Inc. from MOGAS family. Flowserve Corporation (NYSE:FLS) has signed a definitive agreement to acquire Mogas Industries, Inc. from MOGAS family for approximately $310 million on August 13, 2024. The Transaction includes an upfront purchase price of $290 million of cash consideration with an additional earnout of up to $15 million tied to the achievement of certain minimum levels of adjusted EBITDA of the MOGAS business for the calendar year ended December 31, 2024. The upfront purchase price represents a purchase multiple of approximately 7.5x MOGAS’ 2024E adjusted EBITDA. MOGAS will be integrated into Flowserve’s Flow Control Division. MOGAS team joins Flowserve. Flowserve expects to fund the upfront cash consideration through a combination of cash and available debt financing. The Transaction is subject to the satisfaction of customary closing conditions and regulatory approvals. The Transaction is expected to close in the fourth quarter of 2024. The Transaction is expected to be accretive to Flowserve’s adjusted EPS in the first full year following closing. Jefferies is serving as financial advisor and Baker McKenzie is serving as legal advisor to Flowserve. Baird is serving as financial advisor and Susan Pravda, Alexander Miska, Katharine Beattie, Katherine Califa, Christopher McKenna, Benjamin Dryden, Chanley Howell, Casey Knapp, Ethan Lenz, John Palmer, Joshua Roling, Sarah Slack, Christopher Swift, Sophie Lignier, and Sonia Kothari of Foley & Lardner is serving as legal advisors to MOGAS.
Flowserve Corporation (NYSE:FLS) completed the acquisition of Mogas Industries, Inc. from MOGAS family on October 15, 2024. Flowserve used cash to fund the transaction’s purchase price. Annuncio • Aug 16
Flowserve Corporation Announces Quarterly Cash Dividend, Payable on October 11, 2024 Flowserve Corporation announced that its Board of Directors has authorized a quarterly cash dividend of $0.21 per share on the company's outstanding shares of common stock. The dividend is payable on October 11, 2024, to shareholders of record as of the close of business on September 27, 2024. The company currently intends to pay regular quarterly cash dividends for the foreseeable future, any future dividends, at this $0.21 per share rate or otherwise, will be reviewed individually and declared by the Board of Directors at its discretion. Annuncio • Aug 15
Flowserve Corporation (NYSE:FLS) has signed a definitive agreement to acquire Mogas Industries, Inc. from Mogas family for approximately $310 million. Flowserve Corporation (NYSE:FLS) has signed a definitive agreement to acquire Mogas Industries, Inc. from Mogas family for approximately $310 million on August 13, 2024. The Transaction includes an upfront purchase price of $290 million of cash consideration with an additional earnout of up to $15 million tied to the achievement of certain minimum levels of adjusted EBITDA of the MOGAS business for the calendar year ended December 31, 2024. The upfront purchase price represents a purchase multiple of approximately 7.5x MOGAS’ 2024E adjusted EBITDA. MOGAS will be integrated into Flowserve’s Flow Control Division. MOGAS team joins Flowserve. Flowserve expects to fund the upfront cash consideration through a combination of cash and available debt financing. The Transaction is subject to the satisfaction of customary closing conditions and regulatory approvals. The Transaction is expected to close in the fourth quarter of 2024. The Transaction is expected to be accretive to Flowserve’s adjusted EPS in the first full year following closing. Jefferies is serving as financial advisor and Baker McKenzie is serving as legal advisor to Flowserve. Baird is serving as financial advisor and Susan Pravda, Alexander Miska, Katharine Beattie, Katherine Califa, Christopher McKenna, Benjamin Dryden, Chanley Howell, Casey Knapp, Ethan Lenz, John Palmer, Joshua Roling, Sarah Slack, Christopher Swift, Sophie Lignier, and Sonia Kothari of Foley & Lardner is serving as legal advisors to MOGAS. Annuncio • Jul 31
Flowserve Corporation Reaffirms Earnings Guidance for the Year 2024 Flowserve Corporation reaffirmed earnings guidance for the year 2024. The company reaffirmed Revenue Growth Up 4.0% to 6.0% and reported earnings per share to be $2.25 to $2.45. Annuncio • Jul 13
Flowserve Corporation to Report Q2, 2024 Results on Jul 29, 2024 Flowserve Corporation announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Jul 29, 2024 Annuncio • May 22
Flowserve Corporation Announces Quarterly Cash Dividend, Payable on July 12, 2024 Flowserve Corporation announced that its Board of Directors has authorized a quarterly cash dividend of $0.21 per share on the company's outstanding shares of common stock. The dividend is payable on July 12, 2024, to shareholders of record as of the close of business on June 28, 2024. Annuncio • Apr 30
Flowserve Corporation Reaffirms Earnings Guidance for the Year 2024 Flowserve Corporation reaffirmed earnings guidance for the year 2024. For the year, the company reaffirmed revenue Growth of up 4.0% to 6.0% and reported earnings per share of $2.25 - $2.45. Annuncio • Apr 16
Flowserve Corporation to Report Q1, 2024 Results on Apr 29, 2024 Flowserve Corporation announced that they will report Q1, 2024 results at 4:00 PM, US Eastern Standard Time on Apr 29, 2024 Annuncio • Apr 03
Flowserve Corporation, Annual General Meeting, May 16, 2024 Flowserve Corporation, Annual General Meeting, May 16, 2024, at 11:30 Central Daylight. Agenda: To consider Elect the 11 directors named in the proxy statement; to consider approve, on an advisory basis, the Company’s executive compensation; to ratify the appointment of PricewaterhouseCoopers as company's independent auditor for 2024; to consider and approve the Company’s employee stock purchase plan; to consider Shareholder Proposal to report the Company’s political spending and policies and procedures regarding political spending. Annuncio • Feb 07
Flowserve Corporation Announces Executive Changes On February 1, 2024, Elizabeth L. Burger tendered her resignation as Senior Vice President, Chief Human Resources Officer of Flowserve Corporation, in order to accept a position as EVP and chief human resources officer at another publicly traded company. Ms. Burger will continue in her current role until her departure on March 1, 2024. Susan C. Hudson, the Company’s Senior Vice President and Chief Legal Officer, will then assume Ms. Burger’s responsibilities on an interim basis, until a replacement is identified. Annuncio • Feb 02
Flowserve Corporation to Report Q4, 2023 Results on Feb 20, 2024 Flowserve Corporation announced that they will report Q4, 2023 results After-Market on Feb 20, 2024 Annuncio • Oct 27
Andritz AG (WBAG:ANDR) signed an agreement to acquire NAF AB from Flowserve Corporation (NYSE:FLS). Andritz AG (WBAG:ANDR) signed an agreement to acquire NAF AB from Flowserve Corporation (NYSE:FLS) on October 25, 2023.The completion of the transaction is subject to approval by the respective authorities. The closing is expected to take place in Q1 2024 Annuncio • Oct 26
Flowserve Corporation Revises Earnings Guidance for the Full Year 2023 Flowserve Corporation revised earnings guidance for the full year 2023. For the year, the company expected revenue growth of 18% to 19% compared to the previous guidance range of 16% to 18%. Reported earnings per share of $1.40 to $1.50 compared to the prior target range of $1.40 to $1.65. Annuncio • Oct 18
Flowserve Corporation to Report Q3, 2023 Results on Oct 25, 2023 Flowserve Corporation announced that they will report Q3, 2023 results After-Market on Oct 25, 2023 Annuncio • Oct 06
Flowserve Announces French Regulatory Rejection of Velan Transaction Flowserve Corporation announced that the French Ministry of Economy, as part of its Foreign Direct Investment review process, has rejected Flowserve’s acquisition of Velan Inc. Flowserve and Velan previously extended the outside date (the “Outside Date”) of the arrangement agreement made as of February 9, 2023, among Velan, 14714750 Canada Inc. and Flowserve US Inc., as amended (the “Arrangement Agreement”) to October 7, 2023. With the latest development regarding the French regulatory denial, Flowserve does not intend to make any further extensions to the Outside Date and intends to terminate the Arrangement Agreement following the occurrence of the Outside Date. According to the terms of the Arrangement Agreement, no termination fee will be payable by either party. Annuncio • Sep 21
Flowserve Corporation Announces Board Changes, Effective December 8, 2023 Flowserve Corporation announced that its board of directors has elected Cheryl H. Johnson as a member of its board of directors, effective December 8, 2023. Ms. Johnson will also be appointed to the organization and compensation committee, as well as the finance and risk committee of the board on the same date. Ms. Johnson’s appointment follows the retirement of John Friedery, who will retire from the board effective December 8, 2023. Ms. Johnson currently serves as the chief human resources officer at Caterpillar Inc. since 2017. Ms. Johnson was the Executive Vice President at Textron from 2012 to 2017 and the Director of Talent and Organization Development at Bell Helicopter from 2009 to 2012. Her prior experience includes serving as Executive Vice President of Human Resources for Textron Inc., an aviation and aerospace component manufacturer, where she led global human resources, corporate communications, and community affairs. Ms. Johnson earned a Bachelor of Science in operations management as well as an MBA from Northern Illinois University. Annuncio • Aug 17
Flowserve Corporation Announces Quarterly Cash Dividend, Payable on October 6, 2023 Flowserve Corporation announced that its Board of Directors has authorized a quarterly cash dividend of $0.20 per share on the company's outstanding shares of common stock. The dividend is payable on October 6, 2023, to shareholders of record as of the close of business on September 22, 2023. Annuncio • Aug 03
Flowserve Corporation Revises Earnings Guidance for the Full Year 2023 Flowserve Corporation revised earnings guidance for the full year 2023. For the year, the company expected revenue growth of 16.0% to 18.0% up from the previous guidance range of 10.0% to 12.0%. Reported earnings per share of $1.40 to $1.65. Annuncio • Jun 01
Flowserve Corporation Announces Quarterly Cash Dividend, Payable on July 7, 2023 Flowserve Corporation announced that its Board of Directors has authorized a quarterly cash dividend of $0.20 per share on the company's outstanding shares of common stock. The dividend is payable on July 7, 2023, to shareholders of record as of the close of business on June 23, 2023. Upcoming Dividend • Mar 16
Upcoming dividend of US$0.20 per share at 2.6% yield Eligible shareholders must have bought the stock before 23 March 2023. Payment date: 07 April 2023. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Mexican dividend payers (6.0%). Lower than average of industry peers (4.2%). Reported Earnings • Feb 23
Full year 2022 earnings released: EPS: US$1.44 (vs US$0.97 in FY 2021) Full year 2022 results: EPS: US$1.44 (up from US$0.97 in FY 2021). Revenue: US$3.62b (up 2.1% from FY 2021). Net income: US$188.7m (up 50% from FY 2021). Profit margin: 5.2% (up from 3.6% in FY 2021). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Global Machinery industry. Annuncio • Feb 18
Flowserve Corporation Announces Management Changes Flowserve Corporation announced that As part of a reorganization and restructuring plan to align with company’s diversify, decarbonize and digitize strategy and in an effort to optimize operational execution, on February 13, 2023, the Company announced that Tamara Morytko, the President of the Company’s Flowserve Pumps Division, will step down from her position effective February 24, 2023. In addition, Keith Gillespie, the Company’s Senior Vice President and Chief Sales Officer, will step down from his position effective April 7, 2023. Both separations constitute terminations without Cause as defined in the Flowserve Corporation Executive Officer Severance Plan and as a result, both will receive severance payments and benefits under that plan. As a result of these departures, the Company has appointed Lamar Duhon as the President of the Company’s Flowserve Pumps Division effective February 24, 2023 in addition to his current responsibilities. Mr. Duhon has served as the President of the Company’s Aftermarket Services and Solutions segment since he joined Flowserve in January 2022. Mr. Gillespie will continue to serve in his current capacity through April 7, 2023, while the Company transitions Mr. Gillespie’s responsibilities to Mr. Duhon and Kirk Wilson, the Company’s President of its Flow Control Division. Upcoming Dividend • Dec 22
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 13 January 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.6%. Lower than top quartile of Mexican dividend payers (6.4%). Lower than average of industry peers (4.0%). Annuncio • Dec 13
Flowserve Corporation Announces Quarterly Cash Dividend on Common Stock, Payable on January 13, 2023 Flowserve Corporation announced that its Board of Directors has authorized a quarterly cash dividend of $0.20 per share on the company's outstanding shares of common stock. The dividend is payable on January 13, 2023, to shareholders of record as of the close of business on December 30, 2022. While Flowserve currently intends to pay regular quarterly cash dividends for the foreseeable future, any future dividends, at this $0.20 per share rate or otherwise, will be reviewed individually and declared by the Board at its discretion. Reported Earnings • Nov 01
Third quarter 2022 earnings released: EPS: US$0.29 (vs US$0.38 in 3Q 2021) Third quarter 2022 results: EPS: US$0.29 (down from US$0.38 in 3Q 2021). Revenue: US$872.9m (flat on 3Q 2021). Net income: US$38.4m (down 23% from 3Q 2021). Profit margin: 4.4% (down from 5.7% in 3Q 2021). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Global Machinery industry. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Annuncio • Oct 20
Flowserve Corporation to Report Q3, 2022 Results on Oct 31, 2022 Flowserve Corporation announced that they will report Q3, 2022 results After-Market on Oct 31, 2022 Annuncio • Oct 07
Flowserve Corporation Announces Release of New Flowserve FLEX™ Isobaric Energy Recovery Device Flowserve Corporation announced the release of the new Flowserve FLEX™ Isobaric Energy Recovery Device – the next-generation compact pressure exchanger for reverse osmosis plants. The Flowserve FLEX pressure exchanger is designed to be one of the most efficient and compact energy recovery devices on the market. With its ability to recover more than 98% of hydraulic energy and offer the highest unit capacity available, while being notably smaller than competitor products, the FLEX pressure exchanger can substantially reduce the cost of desalination by lowering operating and capital expenditures. Additionally, the Flowserve FLEX offers a simple design with only four major internal components and is enabled for remote monitoring through Flowserve’s RedRaven IOT platform – helping provide high reliability and ensure uptime for end users. With successful pilots in multiple desalination plants occurring for more than a year, customers have already seen the tangible benefits Flowserve FLEX can provide. Buying Opportunity • Sep 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be Mex$652, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has declined by 25%. Revenue is forecast to grow by 9.1% in a year. Earnings is forecast to grow by 113% in the next year. Upcoming Dividend • Sep 22
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 14 October 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.1%. Lower than top quartile of Mexican dividend payers (6.3%). Lower than average of industry peers (3.8%). Annuncio • Sep 03
Flowserve Corp. Elects Ken Siegel as an Independent Director and a Member of the Audit Committee and Finance and Risk Committee of the Board Flowserve Corp. reported that its board of directors has elected Ken Siegel as an independent director and a member of the Audit Committee and Finance and Risk Committee of the board. Siegel is a Senior Vice President at Loews Corp. responsible for monitoring the performance of Loews' operating businesses and focuses on strategic planning, mergers and acquisitions, corporate development, and financing activities. Siegel is a member of the board of directors of CNA Financial Corp., a publicly traded subsidiary of Loews, and he also serves on the board of Altium Packaging and is the chairman of the board of Boardwalk Pipelines. Additionally, Siegel has more than 30 years of experience in investment banking in New York and London. He was head of Mergers & Acquisitions for several industry groups at Barclays Capital and Lehman Brothers. Annuncio • Aug 23
Flowserve Corporation Announces Quarterly Cash Dividend, Payable on October 14, 2022 Flowserve Corporation announced that its Board of Directors has authorized a quarterly cash dividend of $0.20 per share on the company's outstanding shares of common stock. The dividend is payable on October 14, 2022, to shareholders of record as of the close of business on September 30, 2022. Annuncio • Aug 18
Flowserve Corporation Appoints Ken Siegel as an Independent Director and a Member of the Audit Committee and Finance and Risk Committee of the Board Flowserve Corporation announced that its board of directors has elected Ken Siegel as an independent director and a member of the Audit Committee and Finance and Risk Committee of the board, effective August 16, 2022. Mr. Siegel is a Senior Vice President at Loews Corporation responsible for monitoring the performance of Loews’ operating businesses and focuses on strategic planning, mergers and acquisitions, corporate development, and financing activities. Mr. Siegel is a member of the board of directors of CNA Financial Corporation, a publicly traded subsidiary of Loews, and he also serves on the board of Altium Packaging and is the chairman of the board of Boardwalk Pipelines. Additionally, Mr. Siegel has more than 30 years of experience in investment banking in New York and London. He was head of Mergers & Acquisitions for several industry groups at Barclays Capital and Lehman Brothers. Mr. Siegel holds a Bachelor of Science in industrial and labor relations from Cornell University and a Master of Business Administration from Harvard Business School. He is also a member of the Council on Foreign Relations and was a past member of the Advisory Council of the College of Agriculture and Life Sciences at Cornell University. Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: US$0.34 (vs US$0.35 in 2Q 2021) Second quarter 2022 results: EPS: US$0.34 (down from US$0.35 in 2Q 2021). Revenue: US$882.2m (down 1.8% from 2Q 2021). Net income: US$44.8m (down 1.3% from 2Q 2021). Profit margin: 5.1% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 11%, compared to a 34% growth forecast for the industry in Mexico. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Annuncio • Jul 28
Flowserve Corporation Reaffirms Earnings Guidance for the Year 2022 Flowserve Corporation reaffirmed earnings guidance for the year 2022. For the year, the company re-affirmed its previously announced target ranges, as well as certain other financial metrics, it has provided in its full-year 2022 guidance issued on May 3, 2022. The company did indicate, however, that should the USD persist at the current strong level through the remainder of the year, it expects full-year revenue, GAAP EPS at the low end of those respective ranges. Annuncio • Jul 19
Flowserve Corporation to Report Q2, 2022 Results on Jul 27, 2022 Flowserve Corporation announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Jul 27, 2022 Upcoming Dividend • Jun 16
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 23 June 2022. Payment date: 08 July 2022. The company is paying out more than 100% of its profits and is paying out 81% of its cash flow. Trailing yield: 2.7%. Lower than top quartile of Mexican dividend payers (6.0%). Lower than average of industry peers (3.8%).