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Flowserve Corp (FLS.N)

FLS.N on New York Stock Exchange

44.57USD
10 Dec 2018
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Latest Key Developments (Source: Significant Developments)

Flowserve Corporation Q3 Adjusted Earnings Per Share $0.49
Wednesday, 7 Nov 2018 04:13pm EST 

Nov 7 (Reuters) - Flowserve Corp ::ORATION REPORTS THIRD QUARTER 2018 RESULTS.Q3 SALES $953 MILLION VERSUS I/B/E/S VIEW $925.3 MILLION.Q3 ADJUSTED EARNINGS PER SHARE $0.49.Q3 EARNINGS PER SHARE VIEW $0.43 -- THOMSON REUTERS I/B/E/S.NOW EXPECTS FULL YEAR 2018 REVENUES TO INCREASE YEAR-OVER-YEAR IN A RANGE BETWEEN 5% TO 7%.GAAP EPS IS NOW FORECAST BETWEEN $0.75 TO $0.85 FOR 2018.ADJUSTED EPS TARGET RANGE WAS INCREASED TO $1.65 TO $1.75 FOR 2018.  Full Article

Edgepoint Investment Group Reports 10.4 Percent Passive Stake In Flowserve Corporation ‍​
Friday, 8 Dec 2017 12:52pm EST 

Dec 8 (Reuters) - Flowserve Corp ::EDGEPOINT INVESTMENT GROUP REPORTS 10.4 PERCENT PASSIVE STAKE IN FLOWSERVE CORPORATION AS OF NOV 30 - SEC FILING‍​ ‍​.  Full Article

Flowserve Corp reports Q3 adjusted earnings per share $0.37
Wednesday, 1 Nov 2017 04:05pm EDT 

Nov 1 (Reuters) - Flowserve Corp :Flowserve Corp reports third quarter 2017 results.Q3 sales $883 million versus I/B/E/S view $871.8 million.Q3 adjusted earnings per share $0.37.Q3 earnings per share view $0.34 -- Thomson Reuters I/B/E/S.Flowserve Corp - qtrly ‍reported earnings per share(EPS) of $0.36​.Flowserve Corp - qtrly ‍total bookings were $893 million, down 6.9%, or 8.6% on a constant currency basis​.Flowserve Corp - ‍backlog at September 30, 2017 was $2.1 billion, up 12.5% versus 2016 year-end​.Flowserve Corp - qtrly ‍results impacted by working capital reserves and bookings headwinds from ongoing delays in customer final investment decisions​.Flowserve Corp - now expects 2017 reported and adjusted EPS target ranges of $1.05 to $1.15 and $1.30 to $1.40, respectively​.Flowserve Corp - ‍both 2017 EPS target ranges are based on an expected 7 to 9 percent decline in revenues year-over-year​.  Full Article

Flowserve announces appointment of Lee Eckert as CFO
Thursday, 21 Sep 2017 04:55pm EDT 

Sept 21 (Reuters) - Flowserve Corp :Flowserve announces the appointment of Lee Eckert as chief financial officer.Flowserve Corp - ‍Eckert joins Flowserve from CHC Group LLC​.  Full Article

Flowserve Corporation qtrly ‍adjusted EPS was $0.22
Thursday, 27 Jul 2017 04:17pm EDT 

July 27 (Reuters) - Flowserve Corp :Flowserve Corporation reports second quarter 2017 results.Q2 sales $877 million versus I/B/E/S view $933.9 million.Flowserve Corp - ‍backlog at June 30, 2017 was $2.1 billion, up 12.4% and 1.5% versus 2016 year-end, and prior year Q2, respectively​.Flowserve Corp - qtrly ‍reported earnings per share $0.32​.Flowserve Corp - qtrly ‍adjusted EPS was $0.22​.Flowserve Corp - expects reported and adjusted EPS target ranges of $0.85 to $1.05 and $1.30 to $1.50, respectively for FY 2017.FY2017 earnings per share view $1.78 -- Thomson Reuters I/B/E/S.Flowserve - ‍during 2017 Q2, immaterial accounting errors identified in prior period financial statements for period beginning in 2013 through Q1 2017​.Flowserve Corp - ‍determined to amend 2016 form 10-K and March 31, 2017 form 10-Q to reflect revisions​.Flowserve Corp - ‍determined material weakness existed in internal control structure at year-end 2016 and continued through end of 2017 Q2​.Flowserve Corp - ‍intends to institute remediation plans as a result of the errors​.Flowserve Corp - ‍cumulative effect of changes to retained earnings as of March 31, 2017 was a reduction of approximately $30 million​.  Full Article

Flowserve says on June 30 entered into fourth amendment to its existing credit agreement, dated August 20, 2012
Friday, 7 Jul 2017 05:36pm EDT 

July 7 (Reuters) - Flowserve Corp ::Flowserve Corp says on june 30 entered into a fourth amendment to its existing credit agreement, dated august 20, 2012 - sec filing.Flowserve Corp - amendment to decrease the revolving credit commitment from $1 billion to $800 million‍​.Flowserve - amendment modifies credit agreement to decrease maximum amount of priority debt allowed from 15% to 7.5% of consolidated tangible assets of co.Flowserve Corp - amendment to decrease maximum amount of receivables company can securitize from $200 million to $100 million.  Full Article

Spirax-Sarco to buy Flowserve Corp's Gestra for 186 million euros
Monday, 3 Apr 2017 02:33am EDT 

Spirax-Sarco Engineering Plc : Acquisition of Gestra for eur 186 million (£160 million) . Signed a conditional sale and purchase agreement to acquire Gestra AG and associated businesses from Flowserve Corporation . Acquisition will be accretive to earnings in 2017 but is expected to have a slightly dilutionary impact on group profit margin in this year . The purchase consideration will be financed from a combination of existing cash resources and debt facilities . Completion is subject to certain customary conditions, including regulatory approval by merger control authority in Germany .These conditions are expected to be satisfied during current quarter.  Full Article

Flowserve appoints Jay Roueche interim CFO
Friday, 24 Feb 2017 08:15am EST 

Flowserve Corp : Flowserve appoints Jay Roueche interim chief financial officer . Eoueche's appointment follows Karyn Ovelmen's departure from company as executive vice president and chief financial officer . Roueche's appointment follows Karyn Ovelmen's departure from company as executive vice president and chief financial officer .Flowserve will initiate a search to identify a permanent chief financial officer under incoming CEO Scott Rowe's direction.  Full Article

Flowserve says awarded supply pumping contract for Hengli integrated refining complex
Thursday, 16 Feb 2017 04:14pm EST 

Flowserve Corp : Flowserve awarded significant contract to supply pumping equipment for Hengli integrated refining complex .Flowserve corp - order close to $80 million to provide pumps and ebulators for Hengli integrated refining complex project.  Full Article

Flowserve reports Q4 earnings per share $0.50
Thursday, 16 Feb 2017 04:07pm EST 

Flowserve Corp : Flowserve Corporation reports fourth quarter and full year 2016 results; issues 2017 financial guidance . Q4 earnings per share $0.50 . Q4 sales $1.07 billion versus I/B/E/S view $1.07 billion . Q4 earnings per share view $0.64 -- Thomson Reuters I/B/E/S . Q4 adjusted earnings per share $0.72 . Flowserve Corp- backlog at December 31, 2016 was $1.90 billion, down 12.7pct versus prior year . Flowserve Corp - sees FY revenues down 6pct to 11pct . Flowserve Corp - sees FY adjusted earnings per share $1.55 - $1.85 . FY2017 earnings per share view $2.13, revenue view $3.80 billion -- Thomson Reuters I/B/E/S .Flowserve Corp sees 2017 reported earnings per share $0.72 - $1.02.  Full Article