Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, the Middle East, Africa, the Asia Pacific, and Europe. It operates in two segments: Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines. The FCD segment provides engineered and industrial valve and automation solutions, including isolation and control valves, actuation, controls, and related equipment, as well as equipment maintenance services for flow control systems, including advanced diagnostics, repair, installation, commissioning, retrofit programs, and field machining capabilities. This segment's products are used to control, direct, and manage the flow of liquids, gases, and fluids. The company primarily serves oil and gas, chemical and pharmaceuticals, power generation, and water management markets, as well as general industries, including mining and ore processing, pulp and paper, food and beverage, and other smaller applications. The company distributes its products through direct sales, distributors, and sales representatives. Flowserve Corporation was incorporated in 1912 and is headquartered in Irving, Texas.
IPO Year:
Exchange: NYSE
Website: flowserve.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/18/2024 | $65.00 | Buy | Jefferies |
| 9/26/2023 | $40.00 → $50.00 | Hold → Buy | Jefferies |
| 1/30/2023 | $33.00 → $40.00 | Neutral → Buy | BofA Securities |
| 9/15/2022 | $38.00 → $31.00 | Outperform → Neutral | Credit Suisse |
| 7/11/2022 | $31.00 | Underperform → Neutral | BofA Securities |
| 2/25/2022 | $40.00 → $38.00 | Outperform | Credit Suisse |
| 2/25/2022 | $35.00 → $32.00 | Equal-Weight | Morgan Stanley |
| 2/25/2022 | $34.00 → $35.00 | Neutral → Buy | Mizuho |
| 1/14/2022 | $38.00 → $35.00 | Equal-Weight | Morgan Stanley |
| 12/17/2021 | $34.00 | Neutral | Mizuho |
Bookings of $1.20 billion, an increase of 12.7% compared to prior year, including $615 million of aftermarket activity and record levels of 3D strategy bookings Power bookings increased nearly 30% year-over-year, including over $100 million in nuclear awards during the third quarter Adjusted Gross and Operating Margins1 of 32.4% and 11.1%, respectively, an increase of 270 and 240 basis points compared to prior year period Third quarter Reported and Adjusted2 Earnings Per Share (EPS)3 of 44 cents and 62 cents, an increase of 26% and 24%, respectively, and both include a 7 cent unfavorable impact from a discrete charge for certain long-term liabilities Generated strong operating cash
Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that it plans to release its third quarter 2024 results after the close of the New York Stock Exchange (NYSE) on Monday, October 28. The following morning, on Tuesday, October 29, the company will hold its conference call with the financial community at 10 a.m. Eastern time. Scott Rowe, President and Chief Executive Officer, and other members of management will present. The earnings materials and webcast of the conference call can be accessed by shareholders and other interested parties on Flowserve's Investors page. About Flowserve Flowserve
Enhances Flowserve's severe service portfolio targeting key growth sectors in mining, mineral extraction and process industries Demonstrates company's commitment to value-creating, inorganic growth through a disciplined capital allocation approach Flowserve Corporation ("Flowserve") (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that it has completed the acquisition of MOGAS Industries ("MOGAS"). This transaction helps strengthen Flowserve's presence in mission-critical severe service valves and associated aftermarket services. "We welcome the MOGAS team to Flowserve and look forward to leveraging our industr
Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, 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. 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. About Flowserve: Flowserve Corporat
Second quarter Reported and Adjusted1 Earnings Per Share (EPS)2 of 55 cents and 73 cents, an increase of 41% and 40%, respectively, driven by strong operational execution Bookings of $1.25 billion were the highest quarterly level since 2014 and includes record aftermarket activity of more than $610 million Adjusted Gross and Operating Margins3 of 32.3% and 12.5%, respectively, increased 200 and 210 basis points compared to prior year Raised full-year 2024 Adjusted EPS guidance4 to $2.60 to $2.75 Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced its financial results for the second
Flowserve Corporation ("Flowserve") (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, has acquired the intellectual property and in-process R&D related to cryogenic Liquefied Natural Gas (LNG) submerged pump technology, systems and packaging from NexGen Cryogenic Solutions, Inc. ("NexGen Cryo"), a privately held, Arizona-based company specialized in the engineering, design and testing of LNG pumps and turbines. NexGen Cryo's pump and cold energy recovery turbine (CERT) technology for the liquefaction, shipping and regasification markets is expected to meaningfully differentiate and expand Flowserve's LNG product portfolio and compl
Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that it plans to release its second quarter 2024 results after the close of the New York Stock Exchange (NYSE) on Monday, July 29. The following morning, on Tuesday, July 30, the company will hold its conference call with the financial community at 10 a.m. Eastern time. Scott Rowe, President and Chief Executive Officer, and other members of management will present. The earnings materials and webcast of the conference call can be accessed by shareholders and other interested parties at Flowserve's Investors page. About Flowserve: Flowserve Co
Flowserve Corporation, (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, 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. 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 at its discretion. About Flowserve: Flowserve Corp. is one of the world's
First quarter Reported and Adjusted1 Earnings Per Share (EPS)2 of 56 cents and 58 cents, an increase of 180% and 45%, respectively, reflects continued strong operational momentum Raised full-year 2024 Adjusted EPS guidance3 to $2.50 to $2.70, almost a 24% year-over-year increase at the midpoint Delivered solid first quarter Bookings of $1.04 billion, including strong aftermarket activity exceeding $575 million Adjusted Gross and Operating Margin4 of 31.7% and 10.9%, respectively, increased 130 and 260 basis points compared to prior year Record first quarter Operating Cash Flow of $62 million Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and se
Flowserve awarded over $150 million in bookings from two international EPCs Both awards occurred in April and will be reflected in the 2nd Quarter Results Substantial project opportunities remain in the project funnel for the remainder of 2024 and into 2025, in addition to the expected aftermarket & MRO work associated with the projects Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that it received two major project awards earlier this month, primarily for original equipment pumps, from engineering, procurement and construction (EPC) contractors working on two significant Middle E
Flowserve Corporation (NYSE:FLS) ("Flowserve" or the "Company"), a leading provider of flow control products and services for the global infrastructure markets, announced today its participation in the following upcoming investor events: On November 7, Flowserve will host an investor reception in New York City. Scott Rowe, President and Chief Executive Officer, and other members of management will be present. Attendance for this event requires pre-registration, as space at the venue is limited. For members of the financial community interested in attending in person or for additional information on the event, please contact Flowserve's Investor Relations team. Related presentation materia
Bookings of $1.20 billion, an increase of 12.7% compared to prior year, including $615 million of aftermarket activity and record levels of 3D strategy bookings Power bookings increased nearly 30% year-over-year, including over $100 million in nuclear awards during the third quarter Adjusted Gross and Operating Margins1 of 32.4% and 11.1%, respectively, an increase of 270 and 240 basis points compared to prior year period Third quarter Reported and Adjusted2 Earnings Per Share (EPS)3 of 44 cents and 62 cents, an increase of 26% and 24%, respectively, and both include a 7 cent unfavorable impact from a discrete charge for certain long-term liabilities Generated strong operating cash
Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that it plans to release its third quarter 2024 results after the close of the New York Stock Exchange (NYSE) on Monday, October 28. The following morning, on Tuesday, October 29, the company will hold its conference call with the financial community at 10 a.m. Eastern time. Scott Rowe, President and Chief Executive Officer, and other members of management will present. The earnings materials and webcast of the conference call can be accessed by shareholders and other interested parties on Flowserve's Investors page. About Flowserve Flowserve
Enhances Flowserve's severe service portfolio targeting key growth sectors in mining, mineral extraction and process industries Demonstrates company's commitment to value-creating, inorganic growth through a disciplined capital allocation approach Flowserve Corporation ("Flowserve") (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that it has completed the acquisition of MOGAS Industries ("MOGAS"). This transaction helps strengthen Flowserve's presence in mission-critical severe service valves and associated aftermarket services. "We welcome the MOGAS team to Flowserve and look forward to leveraging our industr
Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, 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. 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. About Flowserve: Flowserve Corporat
Strategically expands severe service flow control offering in attractive mining, mineral extraction and process industries Highly complementary product and service offering with large installed base that meaningfully enhances Flowserve's aftermarket opportunity Attractive upfront purchase multiple of approximately 7.5x MOGAS' 2024E adjusted EBITDA which is expected to reduce further with synergy realization Transaction expected to be adjusted Earnings Per Share (EPS) accretive in the first full year following close Flowserve Corporation ("Flowserve") (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that
Second quarter Reported and Adjusted1 Earnings Per Share (EPS)2 of 55 cents and 73 cents, an increase of 41% and 40%, respectively, driven by strong operational execution Bookings of $1.25 billion were the highest quarterly level since 2014 and includes record aftermarket activity of more than $610 million Adjusted Gross and Operating Margins3 of 32.3% and 12.5%, respectively, increased 200 and 210 basis points compared to prior year Raised full-year 2024 Adjusted EPS guidance4 to $2.60 to $2.75 Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced its financial results for the second
Flowserve Corporation ("Flowserve") (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, has acquired the intellectual property and in-process R&D related to cryogenic Liquefied Natural Gas (LNG) submerged pump technology, systems and packaging from NexGen Cryogenic Solutions, Inc. ("NexGen Cryo"), a privately held, Arizona-based company specialized in the engineering, design and testing of LNG pumps and turbines. NexGen Cryo's pump and cold energy recovery turbine (CERT) technology for the liquefaction, shipping and regasification markets is expected to meaningfully differentiate and expand Flowserve's LNG product portfolio and compl
Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that it plans to release its second quarter 2024 results after the close of the New York Stock Exchange (NYSE) on Monday, July 29. The following morning, on Tuesday, July 30, the company will hold its conference call with the financial community at 10 a.m. Eastern time. Scott Rowe, President and Chief Executive Officer, and other members of management will present. The earnings materials and webcast of the conference call can be accessed by shareholders and other interested parties at Flowserve's Investors page. About Flowserve: Flowserve Co
Program's First Phase Estimates 2,000 MWh Power Consumption Reduction Potential, leading to 1,300 Metric Tons CO2 savings Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, and Heide Refinery, Germany's northernmost crude oil refinery and chemicals company, announced today they will partner to incorporate Flowserve's Energy Advantage Program to accelerate Heide Refinery's momentum in energy efficiency. Flowserve's Energy Advantage Program leverages a data-driven engineering evaluation process that promotes energy efficiency through optimization of pump and valve power consumption – with little to no disruptio
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Flowserve Corporation ("Flowserve") (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, has acquired the intellectual property and in-process R&D related to cryogenic Liquefied Natural Gas (LNG) submerged pump technology, systems and packaging from NexGen Cryogenic Solutions, Inc. ("NexGen Cryo"), a privately held, Arizona-based company specialized in the engineering, design and testing of LNG pumps and turbines.Transaction DetailsThe technology acquisition closed during the third quarter of 2024. The purchase price and associated expenses are expected to reduce adjusted earnings per share by $0.05 in Flowserve's 2024 third quarter. Nex
Ratings for Flowserve (NYSE:FLS) were provided by 8 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 7 0 1 0 0 Last 30D 1 0 0 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 6 0 1 0 0 Insights from analysts' 12-month price targets are revealed, presenting an average target of $56.0, a high estimate of $59.00, and a low estimate of $53.00. Observing a 9.8% increase, the current average has risen from t
Stifel analyst Nathan Jones maintains Flowserve (NYSE:FLS) with a Buy and raises the price target from $55 to $58.
Flowserve's (NYSE:FLS) short percent of float has fallen 29.07% since its last report. The company recently reported that it has 1.90 million shares sold short, which is 1.83% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.35 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is
Flowserve's (NYSE:FLS) short percent of float has risen 63.1% since its last report. The company recently reported that it has 2.85 million shares sold short, which is 2.74% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.08 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is im
TD Cowen analyst Joseph Giordano maintains Flowserve (NYSE:FLS) with a Buy and raises the price target from $50 to $55.
Citigroup analyst Andrew Kaplowitz maintains Flowserve (NYSE:FLS) with a Buy and raises the price target from $56 to $59.
UBS analyst Damian Karas maintains Flowserve (NYSE:FLS) with a Buy and raises the price target from $46 to $54.
Mizuho analyst Brett Linzey reiterates Flowserve (NYSE:FLS) with a Buy and raises the price target from $50 to $53.
Stifel analyst Nathan Jones maintains Flowserve (NYSE:FLS) with a Buy and raises the price target from $53 to $55.
Flowserve Corp. (NYSE:FLS) (the "Company"), a leading provider of flow control products and services for the global infrastructure markets, held its virtual 2024 Annual Meeting of Shareholders on May 16, 2024. Concerning the official business of the meeting, the Company announced that its shareholders elected Sujeet Chand, Ruby R. Chandy, Gayla J. Delly, John L. Garrison, Cheryl H. Johnson, Michael C. McMurray, Thomas B. Okray, David E. Roberts, R. Scott Rowe, Kenneth I. Siegel, and Carlyn R. Taylor to the Company's Board of Directors, each to serve an annual term expiring at the 2025 Annual Meeting of Shareholders. Biographies for all members of the Board can be found in the Company's
Experienced CFO primed to take on new opportunities with zero-emissions trucking and hydrogen infrastructure solutions PHOENIX, March 4, 2024 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced the appointment of an accomplished and highly regarded financial executive, Thomas "Tom" B. Okray, who has joined the company's executive team as Chief Financial Officer (CFO). "We are proud to welcome Tom as our CFO. Attracting someone of his caliber is a
Monro, Inc. (NASDAQ:MNRO), a leading provider of automotive undercar repair and tire services, today announced that Thomas B. Okray has been appointed to the Company's Board of Directors, effective immediately. Mr. Okray will serve on the Executive Committee. Mr. Okray is a seasoned executive with significant financial and operational expertise in the auto industry and broader industrials segment, including a 26-year tenure at General Motors and subsequent senior finance roles at Amazon.com, Inc., Advance Auto Parts, Inc. and W.W. Grainger, Inc. He most recently served as Chief Financial Officer of Eaton Corporation, a global intelligent power management company. Robert E. Mellor, Chair
Littelfuse, Inc. (NASDAQ:LFUS), a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world, announced today the appointment of Gayla Delly to the company's board of directors, effective September 28, 2023. Delly was also appointed to the Audit Committee. "Gayla brings a wealth of experience as both a public company executive and seasoned board member," said Gordon Hunter, Littelfuse Chairman of the Board of Directors. "Her board leadership and broad management experience across companies operating in a diverse set of end markets make her a terrific addition to the Littelfuse board, as we continue to execute our company's growth strategy
Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today 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. "I would like to thank John for his exceptional service and support of Flowserve over the years and we wish him well in retirement," said Scott
Flowserve Corp. (NYSE:FLS) (the "Company"), a leading provider of flow control products and services for the global infrastructure markets, held its virtual 2023 Annual Meeting of Shareholders on May 25, 2023. Concerning the official business of the meeting, the Company announced that its shareholders re-elected Sujeet Chand, Ruby R. Chandy, Gayla J. Delly, John R. Friedery, John L. Garrison, Michael C. McMurray, Thomas B. Okray, David E. Roberts, R. Scott Rowe, Kenneth I. Siegel, and Carlyn R. Taylor to the Company's Board of Directors, each to serve an annual term expiring at the 2024 Annual Meeting of Shareholders. Biographies for all members of the Board can be found in the Company'
Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that its board of directors has elected Thomas Okray as a member of its board of directors and audit committee, effective April 12, 2023. "We are very pleased to have Tom become part of Flowserve's board," said Scott Rowe, Flowserve president and chief executive officer. "His extensive global experience across diverse industries will bring meaningful insights and value to Flowserve." Mr. Okray currently serves as the chief financial officer and executive vice president at Eaton Corporation, a multinational intelligent power management company.
Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, today 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. "We are excited to welcome Ken to our board of directors," said Scott Rowe, Flowserve president and chief executive officer. "Ken's deep experience in corporate development, mergers and acquisitions, and strategic planning will be extremely valuable as we continue to position Flowserve for long-term growth through our Diversify, Decarbonize and Digitize strategy."
Flowserve Corp. (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, held its virtual 2022 Annual Meeting of Shareholders today. As previously announced, Roger L. Fix was not nominated for re-election to the Board of Directors at the annual meeting as he was approaching the mandatory retirement age under our Corporate Governance Guidelines. "I want to extend my sincere thanks to Mr. Fix for his many years of dedicated service to Flowserve," said Scott Rowe, President and Chief Executive Officer. "His institutional knowledge of our Company combined with his robust industry experience was exactly what Flowserve needed to navigate the unp
Flowserve Corp. (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, held its virtual 2021 Annual Meeting of Shareholders today. Concerning the official business of the meeting, the Company announced that its shareholders re-elected R. Scott Rowe, Sujeet Chand, Ruby R. Chandy, Gayla J. Delly, Roger L. Fix, John R. Friedery, John L. Garrison, Michael C. McMurray, David E. Roberts and Carlyn R. Taylor to the Company's Board of Directors, each to serve an annual term expiring at the 2022 Annual Meeting of Shareholders. Biographies for all members of the Board can be found in the Company's 2021 Proxy Statement or on www.flowserve.com. Ad
Jefferies resumed coverage of Flowserve with a rating of Buy and set a new price target of $65.00
Jefferies upgraded Flowserve from Hold to Buy and set a new price target of $50.00 from $40.00 previously
BofA Securities upgraded Flowserve from Neutral to Buy and set a new price target of $40.00 from $33.00 previously
Credit Suisse downgraded Flowserve from Outperform to Neutral and set a new price target of $31.00 from $38.00 previously
BofA Securities upgraded Flowserve from Underperform to Neutral and set a new price target of $31.00
Credit Suisse reiterated coverage of Flowserve with a rating of Outperform and set a new price target of $38.00 from $40.00 previously
Morgan Stanley reiterated coverage of Flowserve with a rating of Equal-Weight and set a new price target of $32.00 from $35.00 previously
Mizuho upgraded Flowserve from Neutral to Buy and set a new price target of $35.00 from $34.00 previously
Morgan Stanley reiterated coverage of Flowserve with a rating of Equal-Weight and set a new price target of $35.00 from $38.00 previously
Mizuho initiated coverage of Flowserve with a rating of Neutral and set a new price target of $34.00