48.50 +0.34 (0.71%)
After hours: 4:22PM EST
|Bid||48.16 x 800|
|Ask||48.17 x 800|
|Day's Range||47.33 - 48.53|
|52 Week Range||35.88 - 54.16|
|Beta (3Y Monthly)||1.72|
|PE Ratio (TTM)||25.62|
|Earnings Date||Feb 18, 2020 - Feb 24, 2020|
|Forward Dividend & Yield||0.76 (1.62%)|
|1y Target Est||49.45|
Flowserve Corporation, (FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that John E. (Jay) Roueche, III, Flowserve’s vice president, treasurer and investor relations, will assume the role of interim chief financial officer, effective December 3, 2019. Mr. Roueche’s appointment follows Lee S. Eckert’s departure from Flowserve as senior vice president and chief financial officer, effective December 3, 2019. Flowserve has initiated a comprehensive search to identify a permanent chief financial officer.
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is...
(Bloomberg Opinion) -- Emerson Electric Co. may have dodged a proxy fight, but it can’t avoid an earnings slump.The maker of air-conditioner components and automation equipment said Tuesday that it would add the former chief executive officer of Flowserve Corp. to its board and pledged to complete a review of its operations by February. The moves are meant to be a balm for activist investor D.E. Shaw & Co., which has called for more aggressive cost cuts, corporate governance improvements and a breakup. A lack of tangible commitments and deadlines in Emerson’s agreement to consider the activist’s recommendations likely contributed to a notably feisty letter from D.E. Shaw last month that blasted what it described as a bloated budget, including a corporate aviation department with no fewer than eight jets, a helicopter and its own intern.Emerson’s new board member, Mark Blinn, was CEO of Flowserve from 2009 to 2017. He’s not a household name, and Flowserve underperformed the S&P 500 Index during his tenure, but he was one of four candidates D.E. Shaw recommended, according to Bloomberg News. As such, the activist said Tuesday that it would back the company’s slate. According to D.E. Shaw, Emerson has also committed to reviewing how it pays its executives and will seek shareholder approval to amend its charter so that directors are elected annually. There was no update on those corporate jets in the earnings materials released Tuesday morning, although a conference call is scheduled for later this afternoon.Emerson’s concessions to D.E. Shaw are wise; it’s not in a position to pick a fight now. Also on Tuesday, the company released disappointing guidance for its 2020 fiscal year and predicted the coming U.S. presidential election, continued trade tensions and increased restructuring by manufacturers would leave investment decisions stalled. “We are planning for a challenging economic environment,” CEO David Farr said in the news release. This was a notably more downbeat outlook on the economy than other industrial companies have given this earnings season and contrasts with Parker-Hannifin Corp.’s prediction last week that its own sales slump would bottom out in the middle of its 2020 fiscal year. Emerson’s guidance for $3.48 to $3.72 in adjusted earnings per share implies a decline compared with last year’s numbers on the same basis. Sales may slump as much as 2%, excluding the impact of currency swings and M&A. With numbers like that, Emerson’s goal of achieving $4.50 in EPS by 2021 would be a significant stretch. Emerson said it will “reset” its long-term guidance as part of its February update. What’s troubling is that Emerson’s 2020 outlook doesn’t appear to reflect many benefits from the $95 million it spent cutting costs over the past year to adjust its operations to the downturn, Gordon Haskett analyst John Inch wrote in a report on Tuesday. That’s key because cost cuts sit at the crux of D.E. Shaw’s argument for a higher stock price. Analysts have pushed back on D.E. Shaw’s estimate of more than $1 billion in excess costs at Emerson, noting that some of the activist investor’s margin comparisons are unfair because many of the company’s rivals strip out restructuring, pension expenses and other expenses. In response, Emerson provided additional details about its pension and stock compensation costs for its most recent results. But it also moved to an adjusted earnings outlook after previously giving its forecast on a GAAP basis except in certain circumstances. The company says this is because 2020 restructuring actions will be determined as part of the board’s review and the guidance will be updated in February to reflect that. Let’s hope that’s true and that D.E. Shaw’s push doesn’t have the unfortunate side effect of yet another industrial company becoming addicted to earnings adjustments.To contact the author of this story: Brooke Sutherland at firstname.lastname@example.orgTo contact the editor responsible for this story: Daniel Niemi at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Flowserve Corporation (FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that Scott Rowe, president and chief executive officer, will present at the 2019 Baird Global Industrial Conference in Chicago, Illinois, on November 6, 2019, at 2:00 p.m. CST. About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services.
Flowserve's (FLS) third-quarter 2019 earnings benefit from sales growth, margin improvement and decline in interest expenses. It revises projections for 2019.
DALLAS-- -- Expanded margins through Flowserve 2.0 transformation program Completed the sixth consecutive quarter with bookings in excess of $1 billion Delivered over $120 million of free cash flow improvement year-to-date Revised 2019 Adjusted EPS target range to $2.15 - $2.20 Flowserve Corporation , a leading provider of flow control products and services for the global infrastructure markets, today ...
In 2017 Robert Rowe was appointed CEO of Flowserve Corporation (NYSE:FLS). This analysis aims first to contrast CEO...
Flowserve's (FLS) third-quarter earnings are likely to have gained from strength across most of its end markets. Challenging conditions in the power market might have posed a concern.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Flowserve Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Flowserve (FLS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Flowserve Corporation, (FLS), a leading provider of flow control products and services for the global infrastructure markets, announced that it recently signed agreements to provide the main pumps for two large sea water reverse osmosis (SWRO) desalination plants, Taweelah and Rabigh-3. Once completed, the Taweelah plant, located just outside of Abu Dhabi, United Arab Emirates (UAE), will be the largest SWRO project in the world and have the capacity to process 909,200 cubic meters of water per day (m3/day).
Flowserve Corporation (FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that it plans to release its results for the third quarter 2019 after the close of the New York Stock Exchange (NYSE) on Wednesday, October 30. Scott Rowe, president and chief executive officer, and other members of management will present. About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services.
Most investors tend to think that hedge funds and other asset managers are worthless, as they cannot beat even simple index fund portfolios. In fact, most people expect hedge funds to compete with and outperform the bull market that we have witnessed in recent years. However, hedge funds are generally partially hedged and aim at […]
HOUSTON and LONDON, Oct. 14, 2019 /PRNewswire/ -- LyondellBasell (LYB), one of the world's largest plastics, chemicals and refining companies, today announced that Michael McMurray has been appointed executive vice president and chief financial officer (CFO), effective Nov. 5, 2019. McMurray replaces Thomas Aebischer who, earlier this year, elected to retire at the end of 2019. "Having worked in a wide variety of roles over his career, Michael has deep knowledge of financial markets and brings a diverse, global perspective to the finance function," said Bob Patel, CEO of LyondellBasell.
Equity investors seeking to profit from rising oil prices amid escalating violence in the Middle East should focus on eight energy stocks and suppliers that are uniquely positioned to outperform. Stocks that could see the biggest sustained gains include energy producers Brigham Minerals Inc. (MNRL), Murphy Oil Corp. (MUR), Pioneer Natural Resources Co. (PXD), and EOG Resources Inc. (EOG). Also poised to benefit are energy industry suppliers such as valve and seal maker Flowserve Corp. (FLS), compressor maker Gardner Denver Holdings Inc. (GDI), valve maker Circor International Inc. (CIR), and General Electric Co. (GE), which owns 40% stake in Baker Hughes (BHGE).
Today we are going to look at Flowserve Corporation (NYSE:FLS) to see whether it might be an attractive investment...