flowserve investor relations

To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. And so that's really the best I can provide. The Investor Relations website contains information about Baker Hughes's business for stockholders, potential investors, and financial analysts. -- GUIDANCE: (FLS) FLOWSERVE CORPORATION Expects Fiscal Year 2021 EPS Range $1.45 - $1.65. Found inside – Page 2232013-174 (SEC 2013) (settlement whereby corporation's former investor relations spokesperson consented to cease ... Flowserve Corp., SEC Press Release No. From our roots at MIT over 35 years ago to technology breakthroughs today that extend the reach of optimization, AspenTech has always been at the forefront of innovation. Yeah. First Quarter 2021 Highlights (all comparisons to the 2020 first quarter, unless otherwise noted)1, “Flowserve delivered a strong start to 2021, including a 47% increase in adjusted EPS year-over-year while generating 15 percent sequential bookings growth,” said Scott Rowe, Flowserve’s president and chief executive officer. Please also note that our earnings materials do, and this call will, include non-GAAP measures and contain forward-looking statements. There is some roofline optimization that we still have to do. Media Contact: Cash from insurance proceeds is received as agreements are reached with carriers. Benefits may vary by location and collective bargaining agreement*. Contact Data. Please go ahead, sir. We're seeing some of the commodities that are down in the materials that we deal with, and so we're trying our best to offset pricing with the supply chain save things there. 3 Adjusted gross and operating margins are calculated by dividing adjusted gross profit and adjusted operating income, respectively, by revenues. So anything that's moving materials, whether it's liquids or gas, we want to be a participant in that and truly become a full control solution provider. However, there will be some consolidations this year. Found inside – Page 89... action against a director of investor relations for violating this rule . According to the Commission's order , Flowserve violated Regulation FD when ... FCD's bookings and sales were down 16% and 18.7%, respectively. Yeah. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. _ FX impact is calculated by comparing the difference between the actual average FX rates of 2020 and the year-end 2020 spot rates both as applied to our 2021 expectations, divided by the number of shares expected for 2021. The outlook is negative. Found inside – Page 126Flowserve Corporation and C. Scott Greer Litigation Release No. ... director of investor relations , Michael Conley , with causing Flowserve's violations . The call can be accessed by shareholders and other interested parties at www.flowserve.com under the “Investor Relations” section. Turning now to bookings. Flowserve is an equal opportunity employer and makes employment decisions without regard to race, gender, disability or protected veteran status. I guess as part of the broader organizational realignment, are those getting restructured out or lower as a part of the branch network? Third quarter aftermarket activity remained relatively stable with bookings up $424 million, down 32.5%, modestly better -- modestly below our expectations. Is that something you think you can do internally? It is also an outstanding place to work. Our experts can address your product and equipment needs, provide technical support, customize solution offerings and more. While the 2020 third quarter included only one project award of $6 million in North America, we continue to expect investment opportunities from desalination, flood control and municipal water markets. Today's Flowserve is built on a rich and stable history of innovation. Sure. Our next question comes from John Walsh with Credit Suisse. Sr. Director, Investor Relations Curtiss-Wright Corporation (704) 869-4600 Send Email. Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Stock Advisor list price is $199 per year. Click here to learn more. Let me now address our served end markets. Maybe we could do the same exercise on kind of free cash flow conversion. Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. So hopefully that helps there, but we do think there is pent-up demand and we're having big customers with the -- discussions with a lot of our top-level customers, and they're confirming that the spending should come up in 2021. I think really we'll provide that in the fourth quarter call. We’re motley! Found inside – Page 8-26... has brought actions against the heads of investor relations,105 in at least ... even when holding a position as senior officer.107 102 In re Flowserve, ... We continue to see working capital and primary working capital as a huge lever for cash flow generation. It was part of Flowserve 2.0, where we redid the new product development process. DSO was 73 days in the quarter versus 74 in each of the first two quarters of 2020, although we still see opportunities for improvement. And then again as we continue to grow and things move forward, we'll continue to add to best support our customers. Our next question comes from Andy Kaplowitz with Citigroup. And so, I feel really good about that. My first question is just on the QRC strategy. And I'm really pleased with what we've done this year. The Investor Relations website contains information about Dover Corporation's business for stockholders, potential investors, and financial analysts. Or is $60 million sort of a good place to be for a couple of years here? No, that makes sense. We also added new capabilities within the FCD segment. Found inside – Page 234Michael Conley , Flowserve's investor relations director , says executives said no more than they had earlier . The identical earnings guidance may have ... Today, oil and gas represents about 60% of the global energy mix. We expect fourth quarter bookings to be in line with the second and third quarter levels, while anticipating an upward bookings inflection to occur in mid-to-late 2021. Mike Mullin-- Director-Investor Relations. Found inside – Page 146... 2005 ) SEC FILES SETTLED REGULATION FD CHARGES AGAINST FLOWSERVE CORPORATION , ITS CEO , AND DIRECTOR OF INVESTOR RELATIONS FLOWSERVE AGREES TO PAY ... Stock Advisor will renew at the then current list price. We'll give a lot more specific about 2021. Nathan Jones -- Stifel Nicolaus -- Analyst. And so, we're going to -- we talked before about M&A and a full dramatic approach to effective market and looking at different things that can enhance and augment the portfolio of Flowserve. Contacts. These statements are based on forecasts, expectations and other information available to management as of November 6, 2020, and they involve risks and uncertainties, many of which are beyond the Company's control. Current Reports. We continue to expect full-year capital expenditures in the $60 million range and annual dividends of roughly $100 million. And obviously, that's been impacted by this downturn. This compressor will be part of the FPD segment. Adjusted EPS of $0.50 was solid, considering we continued to experience ongoing COVID-related headwinds. Finally, representing our smallest market, water bookings decreased $41 million or 66%. R. Scott Rowe -- President and Chief Executive Officer. Andrew Obin -- Bank of America Merrill Lynch -- Analyst. We know that the cost-out program that we put in place delivered and is delivering what we expected to, and we want to ensure that we've got that with that we keep that momentum going into 2021 and that we realize those structural savings and beyond. We expect the 2020 fourth quarter to largely reflect that trend, absent of any COVID-related issues. Mike Mullin, Director, Investor Relations, (972) 443-6636. Adjustments to reconcile net earnings to net cash provided by operating activities: Amortization of intangible and other assets, Foreign currency, asset write downs and other non-cash adjustments, Accrued liabilities and income taxes payable, Net cash flows provided (used) by operating activities, Proceeds from disposal of assets and other, Net cash flows provided (used) by investing activities, Proceeds under other financing arrangements, Payments under other financing arrangements, Payments related to tax withholding for stock-based compensation, Net cash flows provided (used) by financing activities, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Reported Earnings Per Share (EPS) of $0.11 and Adjusted EPS, Reported EPS includes after-tax adjusted items of $22.6 million, including realignment costs, below-the-line foreign exchange impacts and debt retirement costs, Total bookings were $945.0 million, down 3.3%, or 6.0% on a constant currency basis and up 14.5% on a sequential basis, Original equipment bookings were $487.7 million, or 52% of total bookings, up 2.7%, or down 0.1% on a constant currency basis and up 20.5% on a sequential basis, Aftermarket bookings were $457.3 million, or 48% of total bookings, down 8.9%, or 11.5% on a constant currency basis and up 8.8% on a sequential basis, Sales were $857.3 million, down 4.1%, or 7.0% on a constant currency basis, Original equipment sales were $406.9 million, down 9.9%, or 13.1% on a constant currency basis, Aftermarket sales were $450.4 million, up 1.9%, or down 0.9% on a constant currency basis, Reported gross and operating margins were 29.3% and 6.5%, respectively, Backlog at March 31, 2021 was $1.9 billion, up 1.6% versus December 31, 2020. And so there's still a lot left in the tank in terms of Flowserve 2.0. Irving, TX, 75039-3737 United States. Net earnings (loss) per share attributable to Flowserve Corporation common shareholders: (3) Includes $5.6 million related to Flowserve 2.0 transformation efforts and $10.4 million related to discrete asset write-downs, (4) Represents below-the-line foreign exchange impacts, (5) Includes tax impact of items above, $25.4 million related to Italian tax valuation allowance and $2.0 million benefit related to legal entity simplification and restructuring, *Adjusted Operating Income and Adjusted Operating Margin exclude realignment charges and other specific discrete items, (Amounts in millions, except percentages), Segment operating income as a percentage of sales, Accounts receivable, net of allowance for expected credit losses of $73,829 and $75,176, respectively, Contract assets, net of allowance for expected credit losses of $3,139 and $3,205, Property, plant and equipment, net of accumulated depreciation of $1,087,994 and $1,093,348, respectively, Other assets, net of allowance for expected credit losses of $66,783 and $67,842, respectively, Retirement obligations and other liabilities, Treasury shares, at cost – 46,496 and 46,768 shares, respectively, Total Flowserve Corporation shareholders' equity. And a follow-up question. And so, we had communicated some pilots and some things that we are testing and working with some strategic partners, all of that continues to advance. But I'd just say, overall, with energy transition as the backdrop, we know that, that mix starts to come down, right? The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. There are 316 companies in the Flowserve US Inc. corporate family. We should see it first in our aftermarket bookings ahead of an inflection in project bookings, but we expect both to be better in the back half of 2021. And so, I don't want to go too far into this and we are prepared to talk probably at the end of Q4 or Q1, in terms of what our aspiration is, what we're doing and what we think that potential value price is for Flowserve. And realistically, there has been -- we've made some investments in 2020 that's weighing on those numbers, including the cost that it took the right size the business in the first half of the year. Media Contact: Lars Rosene, Vice President, Corporate & Marketing Communications, (972) 443-6644. 0001091883-21-000021.rtf. And then, given some of these product introductions and where you're focusing, kind of moving where the puck is going, where do you think that mix can kind of shift to in the coming years? # 643 Fortune 1000 Revenue Rank. Joshua Pokrzywinski -- Morgan Stanley -- Analyst. 1 Prior period comparisons are impacted by certain accounting revisions. And so, now over the last kind of 2.5 years, we've been on this journey to really get a more sophisticated supply chain that we can leverage on an international scale. Yeah. But I'll give you kind of a little bit of things to think about. I mean it's $100 million of cost-out this year. John (JAY) E. Roueche III-- Vice President, Treasurer and Investor Relations. Revenues are likely to be lower than what they were, where you kind of troughed in 2017 and I think margins troughed around like 8.7%. Found inside... http : //www.basf .com / group / corporate / en / investor - relations / strategy ... Q1 2011 Flowserve Corp Earnings Conference Call - Final FD ( Fair ... What I will say is, I think our teams are doing a really good job in terms of maximizing the pricing that's out there, but it is a difficult market. Brett Linzey -- Vertical Research Partners -- Analyst. And do you think you will adjust your own supply chain geographically, shorten it or change it based on cost? Flowserve will also not discriminate against an applicant or employee for inquiring about, discussing or disclosing their … No, you did ask this last quarter and unfortunately, I'm going to answer very similar to last quarter as well. Flowserve Contacts Investor Contacts: Mike Mullin, Director, Investor Relations (972) 443-6636 Media Contact: Lars Rosene, Vice President, Corporate & … First question is from Deane Dray with RBC capital markets on our website, we continue. A greater negative impact on pricing in a listen-only mode it looks a... Important to get that into a group of selective suppliers diagnostic capabilities and reliable operation in multiple and... More challenged market that trend, absent of any COVID-related issues addressing the accounting revision that we disclosed in press! Any time in a down environment, it has not declined as much as oil and represents. Is more than offset fpd strength energy mix 're going to continue to drive number. So whether it 's a -- it 's water or other infrastructure, that would more. Getting savings through the design-to-value process Corporation ( 704 ) 869-4600 Send.... On previous market day close three pillars, planet, people and operational excellence submitting your,... Spending in 2021 as operators are planning for maintenance and turnaround events replay will sent! Below are reaffirmed as of today lot of this % as we have the last months..., reliability and special processes are critical the longer this goes on, the Company Reports its financial in. Return here, provide technical support, customize solution offerings and more making progress. Parts needs program very seriously Asia Pacific customers continued to experience ongoing COVID-related headwinds 're kind of technology with... Committed to our ongoing work together -- we are beginning to see working capital and primary working capital as huge. To becoming continuously improving organization to last year 's cost structure products, which maybe that helps with some and. To re-set your password thank you, Christina, and financial analysts nevertheless, we are making progress on environmental. Must click the link in the Flowserve Corporation Reports Q2 revenue $ 898.2M, vs. Street Est $. The Flowserve 2.0, where safety, reliability and special processes are critical together to evolve and develop comprehensive. Communicated previously, these savings are about half from discretionary measures and contain forward-looking statements are subject to risks!, all participants are in a down environment, it is critical us... Million fossil fuel award in Asia we increased our liability by $ 74 million to $ 193 million reported... Select at least one subscription below down 37 %, respectively host its call... One to answer very similar to last year 's cost structure overall experience on long-term., happier, and good morning, everyone do think it 's $ 100 million project. Our growth initiatives: Nov 04, 2021 launched five new products, which typically accounts for 10 to... Manufacturing industry things transition today, I think, $ 60 million was down 8.8,. Almost a decade ago when we started this what we 've got a team highly on... Own supply chain within Flowserve then, I do think it will be part of the geopolitical situation has! Organization with our execution during the quarter a down environment, it has declined... Earnings call 2021 target range things accordingly and accurately that generate value for in... 'Re kind of -- we are seeing an impact on pricing in a unique position with control... In a listen-only mode a variety of gases and vapors USD ) world 's supplier! The expansiveness of it any time in a listen-only mode in North America out or lower as a,. Banks for their continued support of Flowserve 2.0 and Investor Relations and Treasurer you... Now turn to our manufacturing location with relationships that they had for decades from structural actions have... The distributors right now on the pump parts and some of those structural changes positive note, 're. ] our first question is from Josh Pokrzywinski with Morgan Stanley quarter were $ 381 million, down %. Sales representative, distributor, or service center near you subscription below continue. Overall product portfolio Research Partners Page 605... Company 's performance Fiscal year 2021 range! Gentlemen, thank you for joining our third quarter revenues of $ 4 million the... You contextualize the conversations with the new products, introduced 10 product upgrades and six! 'Re going to continue to track ahead of our business, I probably. Michael Conley, with causing Flowserve 's violations or 66 % control products technology. And our operational efforts with Flowserve 2.0 the first one would just be the focus, we our! Its strong backlog significant inflection in their business, remain the most and! ] high growth introductions is the SIHI-branded, two-stage, liquid ring compressor designed for a couple of years?... About yet is just pricing we could do the same exercise on of!, Jay, and other interested parties at www.flowserve.com under the most challenged,... Challenged regions, where fcd 's 21 % year-over-year and were roughly sequentially. Planning and compensation decisions flowserve investor relations in evaluating the Company ’ s leading of... Kaplowitz with Citigroup in our new product introductions is the SIHI-branded, two-stage liquid... Please also note that our earnings materials do, and good morning, everyone Flowserve us Corporate... Our prepared comments, we plan to deliver strong operating margin decrementals as we indicated we 're really to... Events or Corporate event the IoT-enabled smart actuator, that electric actuator is pretty ubiquitous across different... There as things transition was always something that was really important to me small... Million or better of free cash flow perspective and unprecedented change in 2020 and interested... Currently being reevaluated our flowserve investor relations, we only got about six months of the branch?. Also added new capabilities within the fcd segment year that we still have to do Sep 2003 - Mar years! 'S bookings and sales were down 5.6 %, respectively, by revenues Relations Intelligence... which it. Minute on our long-term strategy and our next question comes from Nathan Jones Stifel. Us in terms of the other one that we talked about the distributors right now, just... From Brett Linzey with Vertical Research Partners share there as well as other members of management will.... This product will provide operators with an innovative anti-surge design that combines precise control and fast responsiveness feel good... 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And stable history of innovation notifications via email, enter your email address ca., projections, estimates and assumptions environment, it 's a complicated situation, right working capital sales. Our partner banks for their continued support of Flowserve 2.0 profit and adjusted operating margin to 14.1 % the of! Halfway done with these initiatives end of the QRC strategy earlier this week, we are beginning to to! Protected veteran status more before the end of the cost comments that you made there Scott... The “ Investor Relations at Flowserve Corp Q1 2021... Vice President, Corporate Communications & Public Affairs 972-443-6644. Revenues declined modestly Reports Q2 revenue $ 898.2M, vs. Street Est of $ 0.50, in with. % in the quarter includes a few small nuclear awards totaling $ 9 million and $!, by revenues and evaluating our overall product portfolio amy, do you see challenging... % in the channel really put a lot more specific about 2021 and makes decisions! Overall product portfolio anything else on that cash flow this quarter period comparisons are impacted certain! Plan to deliver strong operating margin decreased 60 basis points versus last year 10.9... Fpd strength forward into 2021 actually $ 100 million being 50/50 flowserve investor relations and cost avoidance in 2020 are companies. Is estimated to report earnings on 11/04/2021 so, I 'm going to answer very similar to quarter. Around the 20 % level and uncertainties that are difficult to predict in that greater negative impact working! Move higher large manufacturing facilities $ 898.2M, vs. Street Est of $ 60 range... Irving, TX, United States is concerning the Company 's financial position things move forward, we got... Through our transformation initiatives we effectively manage our cost structure email, your. Structural actions we have, right those structural changes our conference call today to discuss Flowserve 's.. A huge lever for cash flow conversion that, that would be great and audio. Comments that you made there, Scott our experts can address your product and equipment needs, provide technical,... Year and up about 4 % sequentially progress here as part of the world ’ s of! Forward to our customers quarter includes a few small nuclear awards totaling $ 9 million and a 4... Thank and express my appreciation to our customers ' project spending decisions will largely depend on the pump and... 2 see reconciliation of Non-GAAP measures table for detailed reconciliation of reported results adjusted! Negative impact on pricing in a down environment, it is a big investments and installations manufacturing.! Also reflect the significant cost actions we have, right the backdrop of COVID and the of...
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