Delivers Adjusted1 EPS of
$0.80 for 2015 Second Quarter
Manufacturing optimization and cost
efficiency realignment programs progressing as planned
SIHI integration and synergies remain on
track
Returned more than $185 million to
shareholders through repurchases and dividends
year-to-date
Revised 2015 full year Adjusted EPS guidance
range to $3.10 to $3.40
Flowserve Corporation (NYSE: FLS), a leading provider of flow
control products and services for the global infrastructure
markets, today reported Adjusted1 Earnings Per Share (EPS) of $0.80
for the 2015 second quarter, which includes $0.06 per share of
negative currency translation as compared to last year, and
excludes $0.24 per share of adjusted items. As previously
disclosed, Flowserve’s 2015 Adjusted EPS calculation excludes the
impact of the SIHI Group (“SIHI”) acquisition, which was completed
on January 7, 2015, as well as below-the-line foreign currency
effects and specific one-time events, such as the 2015 realignment
initiatives.
Second Quarter 2015 Summary (all comparisons versus prior
year quarter, unless otherwise noted):
- Bookings were $1.12 billion, including
$61.5 million from SIHI
- Bookings increased 7.0% sequentially
and included approximately $636 million of original equipment and
$479 million of aftermarket bookings
- Excluding SIHI’s contribution, bookings
increased 11.3% sequentially and decreased 15.3% as compared to
prior year on a constant currency basis
- Sales were $1.16 billion, including
$77.2 million from SIHI
- Aftermarket sales were $492 million, or
approximately 42% of total sales
- Excluding SIHI’s contribution,
aftermarket sales increased 1.5% constant currency
- Gross profit was $369.1 million,
including $8.9 million from SIHI
- Excluding adjusted items, gross profit
decreased 4.4% constant currency
- Gross margin excluding adjusted items
was 34.5%, down 60 basis points
- SG&A expense was $243.6 million,
including $25.3 million from SIHI
- Excluding adjusted items, SG&A
decreased $30.3 million or 12.7%
- Operating income was $127.6 million,
including negative impacts from realignment and SIHI of $24.7
million and $16.4 million, respectively
- Adjusted operating margin, excluding
realignment and SIHI effects, was 15.5%, down 40 basis points
- Backlog at June 30, 2015 was $2.68
billion, including SIHI backlog of $132 million
- Excluding SIHI, backlog increased 0.7%
constant currency as compared to prior year
1 See Reconciliation of Non-GAAP Measures table for detailed
reconciliation of reported results to adjusted measures.
“Flowserve produced solid operating results for the 2015 second
quarter against a backdrop of reduced global capital spending in
our served end markets, increased headwinds in some emerging
markets, low oil prices and a strong U.S. dollar,” said Mark Blinn,
Flowserve’s president and chief executive officer. “We delivered
double-digit sequential bookings and sales growth, which trends
with seasonal patterns, and indicated some signs of market
stability at current low levels. However, with the expected
persistence of the current environment, including increased
challenges in some emerging markets, coupled with ongoing delays
and deferrals, we reset our outlook for the year while undertaking
proactive cost control measures to better align with the
market.
“Our accelerated manufacturing and SG&A initiatives will
better position Flowserve to serve customers and reward
shareholders now and in the future. Our management has effectively
navigated through similar market cycles before, characterized by
fewer project and upgrade opportunities with increased price
sensitivity. We believe that our manufacturing optimization will
permanently improve our cost structure and will position Flowserve
to better serve its customers while generating profitable long-term
growth.
“The resiliency and underlying strength of our business model
has enabled Flowserve to return over $185 million of capital to our
shareholders, through dividends and share repurchases in the first
half of 2015. At current levels, we believe Flowserve shares remain
a compelling investment and we will continue to opportunistically
repurchase shares.
“At the same time, we are committed to investments in growth. We
are pleased with the recent SIHI acquisition and the ongoing
integration progress remains on track. We believe our strategies to
expand our offerings, and leverage Flowserve’s global platform to
drive increased aftermarket activity, will better serve our
customers and create additional long-term shareholder value,” Blinn
concluded.
Operational Commentary and Segment Performance
Tom Pajonas, executive vice president and chief operating
officer, said, “Throughout the second quarter, our customers
remained deliberate in their decision making and project
evaluation. As refining and chemical customers enjoyed strong
margins in their markets, they sought to capture improved economics
in the period by further delaying planned maintenance and
enhancement projects. In our other served markets, expected
investments were generally re-evaluated to reflect the current
lower oil price environment, strong U.S. dollar and global macro
conditions, which created additional delays in activity. Across the
customer base, we have seen a heightened focus on reducing overall
costs, and believe Flowserve’s realignment efforts, tight cost
controls, supply chain management and comprehensive portfolio
enable us to simultaneously respond to our customers’ needs and
produce value for shareholders.
“Flowserve made solid progress during the quarter on both its
manufacturing optimization and SG&A efficiency initiatives. We
recognized $24.7 million of the previously announced, total planned
$100 million investment for these initiatives, which is expected to
deliver approximately $70 million of annual run-rate savings when
fully implemented. The structural and permanent changes we are
making to our operating platform should position Flowserve well in
the current market environment and beyond.
“As evidenced by our solid backlog and sequential bookings and
revenue growth, we believe our served markets began to demonstrate
signs of moderating decline, albeit while at current low levels.
With our strong product and service offerings, global footprint and
focus on operational excellence, we believe Flowserve remains well
positioned to capture new business opportunities when global
spending activity resumes.”
Financial Performance and Guidance
Based upon current market conditions and traditional
seasonality, but supported by a solid backlog and strong operating
profile, Flowserve today revised its 2015 Adjusted EPS guidance to
$3.10 to $3.40 and now expects full-year revenues, excluding SIHI,
to be down 10% to 15% versus prior year, which includes an expected
10% currency headwind.
Karyn Ovelmen, executive vice president and chief financial
officer, commented, “Flowserve continues to operate from a position
of financial strength within the current market environment. Two
months into my role with the company, I have witnessed firsthand
the talent and resources of the organization and our culture of
continuous improvement, as well as opportunities for growth. I
believe our diversified exposures and comprehensive portfolio,
combined with our growth initiatives and cost reductions, positions
the company well to continue driving meaningful long-term
shareholder value.
“Looking at our second quarter beyond the Adjusted EPS, the
acquisition of SIHI had a $0.10 per share dilutive impact on
reported results, bringing its year-to-date impact to $0.28 per
share. We continue to expect that SIHI’s net dilutive impact to
full year 2015 reported results will be approximately $0.25 per
share, primarily due to one-time purchase price accounting,
integration and cost reduction expenses. Flowserve continues to
expect SIHI to be modestly accretive on a reported basis in 2016,
with full annualized run-rate synergies in place by year end
2017.”
Ovelmen added, “In addition, our Adjusted EPS calculation
excludes realignment costs of $0.13 per share and below-the-line
currency impacts of $0.01 per share. Including of the full impact
of realignment, SIHI dilution and below-the-line currency effects,
Flowserve reported earnings per share of $0.56 in the 2015 second
quarter.”
Please see Reconciliation of Non-GAAP Measures table for
detailed reconciliation of reported results to Adjusted
measures.
Flowserve reports its operations through three segments:
Engineered Product Division (EPD), Industrial Product Division
(IPD) and Flow Control Division (FCD). Key financial highlights of
segment performance for the second quarter 2015 include:
Second Quarter and Year-to-Date 2015 - Segment Results
(dollars in millions, comparison vs. 2014 second quarter and full
year, unaudited)
EPD IPD IPD
Ex-SIHI FCD 2nd Qtr
YTD 2nd Qtr YTD 2nd Qtr YTD
2nd Qtr YTD Bookings $ 575.3 $ 1,070.6 $ 205.3 $
452.8 $ 143.8 $ 306.1 $ 355.5 $ 678.0 - vs. prior year -25.1%
-23.3% -6.5% 10.2% -34.5% -25.5% -15.8% -18.9% - on constant
currency -15.5% -14.9% -1.8% 15.2% -29.8% -20.5% -7.8% -11.7%
Sales $ 570.8 $ 1,054.9 $ 260.8 $ 484.2 $ 183.6 $ 340.1 $
356.4 $ 683.5 - vs. prior year -10.8% -9.4% 28.0% 24.2% -9.9%
-12.8% -12.3% -13.4% - on constant currency -0.1% 0.7% 36.1% 31.3%
-1.8% -5.7% -3.5% -5.3% Gross Profit $ 189.9 $ 355.5 $ 58.8
$ 101.7 $ 49.9 $ 93.5 $ 123.7 $ 242.7 - vs. prior year -13.8%
-12.4% -2.0% -4.0% -16.8% -11.7% -19.0% -18.3% Gross Margin
(% of sales) 33.3% 33.7% 22.5% 21.0% 27.2% 27.5% 34.7% 35.5% - vs.
prior year (in basis points) -110 -110 -690 -620 -220 30 -290 -210
Operating Income $ 86.2 $ 155.1 $ 7.1 $ (6.3) $ 23.5 $ 42.9
$ 54.5 $ 109.2 - vs. prior year -20.8% -18.4% -76.5% -112.9% -22.2%
-12.4% -31.1% -32.7% - on constant currency -13.9% -10.8% -70.9%
-106.7% -16.6% -6.3% -27.4% -28.7% Operating Margin (% of
sales) 15.1% 14.7% 2.7% -1.3% 12.8% 12.6% 15.3% 16.0% - vs. prior
year (in basis points) -190 -160 -1210 -1390 -200 - -420 -460
Adjusted Operating Income * $ 96.2 $ 165.7 $ 9.4 $ (4.0) $
25.8 $ 45.2 $ 66.8 $ 121.5 - vs. prior year -11.6% -12.8% -68.9%
-108.2% -14.6% -7.8% -15.5% -25.1% - on constant currency -4.7%
-5.2% -63.2% -102.0% -8.9% -1.6% -11.9% -21.1% Adj. Oper.
Margin (% of sales)* 16.9% 15.7% 3.6% -0.8% 14.1% 13.3% 18.7% 17.8%
- vs. prior year (in basis points) -10 -60 -1120 -1340 -70 70 -80
-280 Backlog $ 1,459.3 $ 508.3 $ 376.1 $ 741.2
*Adjusted Operating Income and Adjusted Operating Margin exclude
realignment charges, purchase price accounting charges and
acquisition related costs
Second Quarter 2015 Results Conference Call
Flowserve will host its conference call with the financial
community on Friday, July 31st at 11:00 AM Eastern. Mark Blinn,
president and chief executive officer, as well as other members of
the management team will be presenting. The call can be accessed by
shareholders and other interested parties at www.flowserve.com
under the “Investor Relations” section.
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. More information about Flowserve can be obtained by
visiting the company’s Web site at www.flowserve.com.
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. Words or phrases such as, “may,” “should,”
“expects,” “could,” “intends,” “plans,” “anticipates,” “estimates,”
“believes,” “forecasts,” “predicts” or other similar expressions
are intended to identify forward-looking statements, which include,
without limitation, earnings forecasts, statements relating to our
business strategy and statements of expectations, beliefs, future
plans and strategies and anticipated developments concerning our
industry, business, operations and financial performance and
condition.
The forward-looking statements included in this news release are
based on our current expectations, projections, estimates and
assumptions. These statements are only predictions, not guarantees.
Such forward-looking statements are subject to numerous risks and
uncertainties that are difficult to predict. These risks and
uncertainties may cause actual results to differ materially from
what is forecast in such forward-looking statements, and include,
without limitation, the following: a portion of our bookings may
not lead to completed sales, and our ability to convert bookings
into revenues at acceptable profit margins; changes in the global
financial markets and the availability of capital and the potential
for unexpected cancellations or delays of customer orders in our
reported backlog; our dependence on our customers’ ability to make
required capital investment and maintenance expenditures; risks
associated with cost overruns on fixed-fee projects and in taking
customer orders for large complex custom engineered products; the
substantial dependence of our sales on the success of the oil and
gas, chemical, power generation and water management industries;
the adverse impact of volatile raw materials prices on our products
and operating margins; economic, political and other risks
associated with our international operations, including military
actions or trade embargoes that could affect customer markets,
particularly Middle Eastern markets and global oil and gas
producers, and non-compliance with U.S. export/re-export control,
foreign corrupt practice laws, economic sanctions and import laws
and regulations; increased aging and slower collection of
receivables, particularly in Latin America and other emerging
markets; our exposure to fluctuations in foreign currency exchange
rates, including in hyperinflationary countries such as Venezuela;
our furnishing of products and services to nuclear power plant
facilities and other critical processes; potential adverse
consequences resulting from litigation to which we are a party,
such as litigation involving asbestos-containing material claims; a
foreign government investigation regarding our participation in the
United Nations Oil-for-Food Program; expectations regarding
acquisitions and the integration of acquired businesses; our
relative geographical profitability and its impact on our
utilization of deferred tax assets, including foreign tax credits;
the potential adverse impact of an impairment in the carrying value
of goodwill or other intangible assets; our dependence upon
third-party suppliers whose failure to perform timely could
adversely affect our business operations; the highly competitive
nature of the markets in which we operate; environmental compliance
costs and liabilities; potential work stoppages and other labor
matters; our inability to protect our intellectual property in the
U.S., as well as in foreign countries; obligations under our
defined benefit pension plans; and other factors described from
time to time in our filings with the Securities and Exchange
Commission.
All forward-looking statements included in this news release are
based on information available to us on the date hereof, and we
assume no obligation to update any forward-looking statement.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited) June 30, December 31, (Amounts in thousands,
except par value) 2015 2014
ASSETS Current assets: Cash and cash equivalents $ 315,304 $
450,350 Accounts receivable, net of allowance for doubtful accounts
of $31,729 and $25,469, respectively 1,042,404 1,082,447
Inventories, net 1,129,695 995,564 Deferred taxes 153,395 158,912
Prepaid expenses and other 138,142 106,890
Total current assets 2,778,940 2,794,163 Property, plant and
equipment, net of accumulated depreciation of $844,655 and
$836,981, respectively 767,904 693,881 Goodwill 1,236,374 1,067,255
Deferred taxes 27,047 31,419 Other intangible assets, net 242,671
146,337 Other assets, net 259,186 234,965
Total assets $ 5,312,122 $ 4,968,020
LIABILITIES AND EQUITY Current liabilities: Accounts payable $
502,969 $ 611,715 Accrued liabilities 781,812 794,072 Debt due
within one year 67,365 53,131 Deferred taxes 13,272
12,957 Total current liabilities 1,365,418 1,471,875
Long-term debt due after one year 1,626,150 1,101,791 Retirement
obligations and other liabilities 536,640 452,511 Shareholders’
equity: Common shares, $1.25 par value 220,991 220,991 Shares
authorized – 305,000 Shares issued – 176,793 Capital in excess of
par value 478,629 495,600 Retained earnings 3,469,687 3,415,738
Treasury shares, at cost – 44,200 and 42,444 shares, respectively
(1,945,235 ) (1,830,919 ) Deferred compensation obligation 11,180
10,558 Accumulated other comprehensive loss (466,675 )
(380,406 ) Total Flowserve Corporation shareholders' equity
1,768,577 1,931,562 Noncontrolling interests 15,337
10,281 Total equity 1,783,914
1,941,843 Total liabilities and equity $ 5,312,122 $
4,968,020
CONDENSED CONSOLIDATED
STATEMENTS OF INCOME (Unaudited) Three Months Ended June
30, (Amounts in thousands, except per share data) 2015
2014 Sales $ 1,162,247 $ 1,224,378 Cost
of sales (793,155 ) (794,072 ) Gross profit 369,092
430,306 Selling, general and administrative expense (243,594 )
(238,178 ) Net earnings from affiliates 2,079
2,187 Operating income 127,577 194,315 Interest expense
(15,392 ) (15,027 ) Interest income 249 507 Other expense, net
(4,882 ) (3,836 ) Earnings before income taxes
107,552 175,959 Provision for income taxes (30,920 )
(50,794 ) Net earnings, including noncontrolling interests 76,632
125,165 Less: Net earnings attributable to noncontrolling interests
(1,624 ) (1,652 ) Net earnings attributable to
Flowserve Corporation $ 75,008 $ 123,513 Net
earnings per share attributable to Flowserve Corporation common
shareholders: Basic $ 0.56 $ 0.90 Diluted 0.56 0.90 Cash
dividends declared per share $ 0.18 $ 0.16
CONDENSED CONSOLIDATED STATEMENTS OF INCOME Six
Months Ended June 30, (Amounts in thousands, except per share data)
2015 2014 Sales $ 2,176,867 $
2,292,514 Cost of sales (1,476,045 ) (1,485,086 )
Gross profit 700,822 807,428 Selling, general and administrative
expense (483,521 ) (454,405 ) Net earnings from affiliates
3,652 5,617 Operating income 220,953 358,640
Interest expense (31,429 ) (30,176 ) Interest income 1,006 838
Other expense, net (24,828 ) (6,741 ) Earnings before
income taxes 165,702 322,561 Provision for income taxes
(59,426 ) (88,809 ) Net earnings, including noncontrolling
interests 106,276 233,752 Less: Net earnings attributable to
noncontrolling interests (3,602 ) (2,505 ) Net
earnings attributable to Flowserve Corporation $ 102,674 $
231,247 Net earnings per share attributable to
Flowserve Corporation common shareholders: Basic $ 0.76 $ 1.68
Diluted 0.76 1.67 Cash dividends declared per share $
0.36 $ 0.32
RECONCILIATION OF NON-GAAP MEASURES
(Unaudited) Three Months
Ended June 30, 2015 (Amounts in thousands, except percentages
and per share data)
As Reported
(a)
SIHI Impact
(1)
Other Items As Adjusted Sales $ 1,162,247 $
77,247 $ - $ 1,085,000 Gross profit 369,092 8,892
(2)
(14,314 ) (5) 374,514 Gross margin 31.8 % 11.5 % - 34.5 %
Selling, general and administrative expense (243,594 ) (25,275 )
(3)
(10,353 ) (6) (207,966 ) Operating income (loss) 127,577
(16,383 ) (24,667 ) 168,627 Operating income (loss) as a percentage
of sales 11.0 % -21.2 % - 15.5 % Interest and other
(expense) income, net (20,025 ) (1,877 ) (2,756 )
(7)
(15,392 ) Earnings (loss) before income taxes 107,552
(18,260 ) (27,423 ) 153,235 Provision for income taxes (30,920 )
4,775
(4)
7,953 (8) (43,648 ) Tax Rate 28.7 % 26.2 % 29.0 % 28.5 %
Net earnings (loss) attributable to Flowserve Corporation
$ 75,008 $ (13,485 ) $
(19,470 ) $ 107,963 Net earnings
per share attributable to Flowserve Corporation common
shareholders: Basic $ 0.56 $ (0.10 ) $ (0.14 ) $ 0.80 Diluted $
0.56 $ (0.10 ) $ (0.14 ) $ 0.80 Basic number of shares used
for calculation 134,237 134,237 134,237 134,237 Diluted number of
shares used for calculation 134,831 134,831 134,831 134,831
(a) Reported in conformity with U.S. GAAP
Notes:
(1) Represents the results of SIHI, including related realignment
charges, acquisition-related costs and purchase price adjustment
("PPA") expenses (2) SIHI sales less SIHI cost of sales which
includes $6.591 million of PPA expenses and $5.311 million of
realignment charges (3) SIHI SG&A, which includes $1.154
million of PPA expenses, $2.690 million of realignment charges and
$2.277 million of acquisition-related costs (4) Tax benefit offset
by $0.520 million of realignment charges recorded in provision for
income taxes (5) Represents $14.314 million of realignment charges
(6) Represents $10.353 million of realignment charges (7)
Represents $2.756 million of foreign exchange impacts (8) Includes
tax impact of items above
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Six
Months Ended June 30, (Amounts in thousands) 2015 2014 Cash
flows – Operating activities: Net earnings, including
noncontrolling interests $ 106,276 $ 233,752 Adjustments to
reconcile net earnings to net cash provided by operating
activities: Depreciation 49,270 46,316 Amortization of intangible
and other assets 17,833 9,327 Gain on sale of business - (13,403 )
Excess tax benefits from stock-based payment arrangements (5,858 )
(8,490 ) Stock-based compensation 17,396 18,272 Foreign currency
and other non-cash adjustments 49,794 11,489 Change in assets and
liabilities, net of acquisitions: Accounts receivable, net 45,376
(14,695 ) Inventories, net (113,005 ) (115,109 ) Prepaid expenses
and other (2,017 ) (8,038 ) Other assets, net (22,435 ) (1,692 )
Accounts payable (124,001 ) (85,599 ) Accrued liabilities and
income taxes payable (24,471 ) (86,059 ) Retirement obligations and
other liabilities 7,003 (5 ) Net deferred taxes 16,903
2,667 Net cash flows provided (used) by
operating activities 18,064 (11,267 ) Cash
flows – Investing activities: Capital expenditures (113,794 )
(53,666 ) Payments for acquisitions, net of cash acquired (341,545
) - Proceeds from disposal of assets 1,872 789 Proceeds from sale
of business, net of cash divested - 46,805
Net cash flows used by investing activities (453,467
) (6,072 ) Cash flows – Financing activities: Excess tax
benefits from stock-based payment arrangements 5,858 8,490 Payments
on long-term debt (20,000 ) (20,000 ) Proceeds from issuance of
senior notes 526,332 - Payments of deferred loan costs (5,108 ) -
Proceeds under other financing arrangements 2,902 13,233 Payments
under other financing arrangements (7,631 ) (4,789 ) Repurchases of
common shares (139,644 ) (153,068 ) Payments of dividends (45,928 )
(41,382 ) Other 160 (2,499 ) Net cash flows
provided (used) by financing activities 316,941 (200,015 ) Effect
of exchange rate changes on cash (16,584 ) (2,881 )
Net change in cash and cash equivalents (135,046 ) (220,235 ) Cash
and cash equivalents at beginning of period 450,350
363,804 Cash and cash equivalents at end of period $
315,304 $ 143,569
SEGMENT
INFORMATION ENGINEERED PRODUCT DIVISION Three Months
Ended June 30, (Amounts in millions, except percentages)
2015 2014 Bookings $ 575.3 $ 768.2 Sales 570.8
640.2 Gross profit 189.9 220.2 Gross profit margin 33.3 % 34.4 %
Operating income 86.2 108.8 Operating margin 15.1 % 17.0 %
INDUSTRIAL PRODUCT DIVISION Three Months Ended June 30, (Amounts in
millions, except percentages) 2015 2014
Bookings $ 205.3 $ 219.6 Sales 260.8 203.8 Gross profit 58.8 60.0
Gross profit margin 22.5 % 29.4 % Operating income 7.1 30.2
Operating margin 2.7 % 14.8 % FLOW CONTROL DIVISION Three
Months Ended June 30, (Amounts in millions, except percentages)
2015 2014 Bookings $ 355.5 $ 422.2
Sales 356.4 406.4 Gross profit 123.7 152.7 Gross profit margin 34.7
% 37.6 % Operating income 54.5 79.1 Operating margin 15.3 % 19.5 %
SEGMENT INFORMATION ENGINEERED
PRODUCT DIVISION Six months Ended June 30, (Amounts in millions,
except percentages) 2015 2014 Bookings
$ 1,070.6 $ 1,396.3 Sales 1,054.9 1,164.3 Gross profit 355.5 405.6
Gross profit margin 33.7 % 34.8 % Operating income 155.1 190.1
Operating margin 14.7 % 16.3 % INDUSTRIAL PRODUCT DIVISION
Six months Ended June 30, (Amounts in millions, except percentages)
2015 2014 Bookings $ 452.8 $ 411.0
Sales 484.2 390.0 Gross profit 101.7 105.9 Gross profit margin 21.0
% 27.2 % Operating (loss) income (6.3 ) 49.0 Operating margin (1.3
%) 12.6 % FLOW CONTROL DIVISION Six months Ended June 30,
(Amounts in millions, except percentages) 2015
2014 Bookings $ 678.0 $ 835.9 Sales 683.5 789.3 Gross profit
242.7 297.1 Gross profit margin 35.5 % 37.6 % Operating income
109.2 162.3 Operating margin 16.0 % 20.6 %
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150730006658/en/
Flowserve ContactsInvestor Contacts:Jay Roueche,
972-443-6560Vice President, IR & TreasurerorMike Mullin,
972-443-6636Director, Investor RelationsorMedia Contact:Lars
Rosene, 972-443-6644Vice President, Global Communications and
Public Affairs
Flowserve (NYSE:FLS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Flowserve (NYSE:FLS)
Historical Stock Chart
From Apr 2023 to Apr 2024