Nucor earnings beat by $0.08, revenue fell short of estimates
DALLAS - Flowserve Corp. (NYSE: FLS), a global provider of flow control products and services with a market capitalization of $6.72 billion, has announced the outcome of its annual shareholder meeting and declared a quarterly cash dividend. The company’s shareholders have re-elected nine directors to its Board, with John L. Garrison succeeding David E. Roberts as Independent Chairman. Ross B. Shuster, CEO of Copeland, joins the Board as a new director. According to InvestingPro data, the company maintains a "GOOD" financial health score, operating with moderate debt levels and strong liquidity.
The election results, disclosed in a recent press release, include the approval of executive compensation by an approximate 98.3% majority and the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2025. However, a shareholder proposal to eliminate the one-year holding period for calling a special shareholder meeting was rejected, with about 90.0% voting against it.
Flowserve’s President and CEO, Scott Rowe, expressed gratitude to David Roberts for his 13 years of service and welcomed both Garrison and Shuster, highlighting the value of their experience for the company’s growth strategy and financial targets for 2027.
The Board of Directors has also authorized a quarterly cash dividend of $0.21 per share, payable on July 11, 2025, to shareholders of record as of June 27, 2025. This represents a dividend yield of 1.64%, with InvestingPro analysis showing an impressive track record of 19 consecutive years of dividend payments. While Flowserve plans to continue paying quarterly dividends, future dividends will be subject to Board approval.
Flowserve operates in over 50 countries, offering a wide array of pumps, seals, valves, and related services. The company’s strategic focus is on providing solutions for fluid motion and control across various industries. With annual revenue of $4.61 billion and revenue growth of 4.23%, the company maintains a strong market position. For detailed analysis and additional insights, investors can access comprehensive research reports available on InvestingPro, which covers over 1,400 US stocks including Flowserve.
The information reported is based on a press release statement. Final voting results will be detailed in an upcoming Current Report on Form 8-K after certification by the company’s inspector of elections. Additional company details and biographies for the board members can be found on Flowserve’s website and in its 2025 Proxy Statement.
In other recent news, Flowserve Corporation announced its first-quarter 2025 earnings, which exceeded analyst expectations. The company reported earnings per share of $0.72, surpassing the forecasted $0.60, and revenue of $1.14 billion, which also outperformed the anticipated $1.11 billion. Bookings for the quarter increased by 18% to $1.2 billion, highlighting the company’s strong market presence. Additionally, Flowserve is focusing on opportunities in decarbonization and the nuclear market. Analyst firms such as Citigroup and Baird have shown interest in the company’s performance, with discussions around the sustainability of bookings and pricing power. The integration of the Mogus acquisition has been progressing ahead of schedule, contributing positively to Flowserve’s margins. The company has also reaffirmed its full-year guidance, anticipating organic growth of 3-5% and adjusted EPS growth of 18-25% for 2025.
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