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DALLAS - Flowserve Corporation (NYSE: FLS), a $6.15 billion market cap provider of flow control products and services with a strong financial health rating according to InvestingPro, announced the release of the INNOMAG TB-MAG Dual Drive Pump, which is touted as the first sealless magnetic drive pump designed to prevent leaks, enhancing safety and environmental protection in industrial settings.
The INNOMAG TB-MAG Dual Drive Pump is described as the only magnetic drive pump in the world that is double hermetically sealed and has an independent secondary containment system. This design aims to mitigate risks associated with handling hazardous chemicals and materials by providing a robust safeguard against potential pump failures.
Chemical plant operators often face challenges with processing dangerous fluids, where even a minor leak can lead to significant environmental and safety hazards. The new pump by Flowserve offers an alternative to Canned Motor Pumps (CMPs), which are traditionally used in such environments but can be prone to leaks due to parts that wear out over time.
The innovative pump’s dual hermetically sealed structure ensures that both the liquid and drive sections are airtight, which serves as a secondary layer of protection. Additionally, the pump’s motor is protected from liquid exposure, which is a common issue with CMPs. The INNOMAG TB-MAG Dual Drive also features a non-metallic liner for added corrosion resistance when handling chemicals. This innovation comes as Flowserve demonstrates solid operational efficiency with a healthy current ratio of 1.98, indicating strong ability to meet short-term obligations.
Lamar Duhon, president of Flowserve Pumps Division, expressed the company’s commitment to safety and the significance of developing a solution that lessens the inherent dangers of working with hazardous materials. The pump is part of Flowserve’s strategic focus on diversification, decarbonization, and digitization.
The INNOMAG TB-MAG Dual Drive Pump maintains all the benefits of similar products, such as compliance with ISO/ASME (ANSI) standards, ease of installation, low maintenance requirements, and the ability to handle solids up to 30 percent volume concentration. It also offers a modular design, allowing for the addition of the Dual Drive unit to standard single containment INNOMAG TB-MAG pumps or as a complete unit purchase.
For more information on the INNOMAG TB-MAG Dual Drive Pump’s capabilities, interested parties can visit the product page on Flowserve’s website. This announcement comes as Flowserve maintains its 19-year track record of consistent dividend payments, with revenue growing at 5.49% over the past year. According to InvestingPro analysis, the company appears undervalued at current levels, with 12 additional exclusive insights available to subscribers. For comprehensive analysis and detailed valuation metrics, investors can access the full Pro Research Report, available among 1,400+ top stocks on InvestingPro.
In other recent news, Flowserve Corporation reported fourth-quarter earnings that did not meet analyst expectations, with adjusted earnings per share at $0.70, falling short of the $0.77 consensus. The company’s revenue for the quarter was $1.18 billion, slightly below the anticipated $1.21 billion, though it marked a 1.3% increase year-over-year. Despite these results, Flowserve’s bookings rose 12.6% year-over-year to $1.18 billion, with a backlog increase to $2.79 billion. UBS, Stifel, TD Cowen, and Mizuho analysts have all maintained positive ratings on Flowserve, with UBS raising the price target to $66 and Mizuho to $70, citing continued demand and strategic initiatives as positive indicators. Stifel analysts adjusted their price target to $77, maintaining a Buy rating, and highlighted Flowserve’s potential for solid organic growth and margin expansion. TD Cowen reiterated a $75 target, noting strong bookings and segment margins, while mentioning the company’s role in the energy transition narrative. Flowserve’s guidance for 2025 suggests conservative revenue estimates but aligns with earnings expectations, with analysts expressing confidence in the company’s strategic direction and operational improvements. The firm’s ongoing initiatives, such as the 80/20 optimization and Commercial Excellence programs, are expected to enhance margins and drive future growth.
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