Jennifer Warren • 12 Comments
Alpha Gen Capital
Fri, Jan. 15, 8:11 PM
- Flowserve (FLS -3.2%) says it's reached a global preferred supplier agreement with Veolia Group (OTCPK:VEOEY -3.3%).
- The deal makes Flowserve a preferred provider of pumps -- deep-well submersible pumps, clear-water single and multi-stage pumps -- and associated services.
- The deal goes through August 2018.
Jul. 27, 2015, 11:01 AM
Mar. 13, 2015, 10:28 AM
- CB&I (CBI -7.5%) appoints Michael Taff as CFO and executive VP, effective April 1, succeeding the retiring Ronald Ballschmiede.
- Taff has more than 30 years' experience of financial experience, and joins CBI from Flowserve (FLS -3.5%), where he served as senior VP and CFO, after previously serving as CFO of McDermott.
- Ballschmiede had been CBI's CFO and executive VP since 2006, and no reason was given for his retirement.
May 12, 2014, 2:59 PM
- Flowserve (FLS +2.6%) enjoys a Barron's bounce following a weekend profile which describes the specialist in fluid control products as thriving along with its industrial customers.
- Shares have more than tripled since Sept. 2011 to a recent $75, but Roosevelt Investment's Lee Caleshu sees FLS earning $5/share next year and commanding a P/E ratio of 18, which implies a stock price of $90 if the engineering and construction industry can meet growth expectations.
- Past accounting irregularities have been replaced by a disciplined capital allocation policy geared to returning cash to shareholders; analysts see FLS generating $2B of free cash flow from 2014-18, with much of it going to shareholders.
Feb. 22, 2013, 1:35 PM
Flowserve (FLS +3.3%) moves up on a slightly better than expected Q4 report late yesterday. Net earnings rose 13% as the valve-and-pump manufacturer recorded sales growth across all business segments. Sales in the engineered-product division, its largest top-line contributor, grew 7.2%, while the industrial-product division's revenue rose 1.5% and its flow-control division were up 4.4% . Gross margin widened to 33.7% from 33.2% despite a 4.2% rise in input costs.| Feb. 22, 2013, 1:35 PM
Jul. 30, 2012, 5:08 PMFlowserve (FLS): Q2 EPS of $1.93 beats by $0.01. Revenue of $1.18M (+5% Y/Y) misses by $20M. Shares +1.5% AH. (PR) | Jul. 30, 2012, 5:08 PM
Jun. 4, 2012, 9:49 AM
Nov. 18, 2011, 11:09 AM