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Flowserve Corporation (NYSE:FLS), a leading provider of pumps and pumping equipment with a market capitalization of $6.75 billion, announced the results of its 2025 Annual Meeting held on May 16, 2025. According to InvestingPro data, the company maintains a solid financial health score and has consistently paid dividends for 19 consecutive years. The company, headquartered in Irving, Texas, saw significant shareholder participation with 86.86% of the shares entitled to vote present at the virtual meeting.
The shareholders voted on four key items during the meeting. The first item was the election of directors, with all nominees being duly elected for annual terms expiring in 2026. The votes for each director nominee varied, with R. Scott Rowe receiving 107,194,066 votes for, 102,002 against, and 76,461 abstentions. Broker non-votes for Rowe totaled 6,999,143. Similar voting patterns were observed for other nominees.
The second item was an advisory vote on executive compensation, which passed with 104,971,283 votes in favor, 1,853,799 against, and 547,447 abstentions. There were 6,999,143 broker non-votes for this proposal.
The third item was the ratification of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for 2025. This proposal was ratified with 105,872,307 votes for, 8,387,323 against, and 112,042 abstentions.
The fourth and final item was a shareholder proposal requesting the elimination of the one-year holding period requirement to call a special shareholder meeting. This proposal did not pass, with 10,729,566 votes for, 96,453,313 against, and 189,650 abstentions. There were also 6,999,143 broker non-votes for this proposal.
The results reflect the shareholders’ support for the current board of directors and the executive compensation package, as well as their confidence in PricewaterhouseCoopers LLP as the company’s auditor. The failure of the shareholder proposal indicates that the investors did not support the change in the requirement for calling a special meeting. InvestingPro analysis shows the company trading at a P/E ratio of 24, with revenue growth of 4.23% in the last twelve months, suggesting investor confidence in the company’s financial performance.
Flowserve Corporation has a history of name changes, previously known as Durco International Inc, Duriron Co Inc, and The Duriron Co Inc, with changes occurring in 1997, 1992, and 1990 respectively. The company is incorporated in New York and has been assigned the SEC file number 1-13179.
This report is based on a press release statement and provides an overview of the key decisions made by the shareholders of Flowserve Corporation during their 2025 Annual Meeting.
In other recent news, Flowserve Corporation reported its first-quarter 2025 earnings, beating analyst expectations with an earnings per share (EPS) of $0.72, compared to the forecasted $0.60. Revenue for the quarter reached $1.14 billion, surpassing the anticipated $1.11 billion. The company also saw an 18% increase in bookings, totaling $1.2 billion. Flowserve’s strategic focus on decarbonization and nuclear market opportunities was highlighted as a contributing factor to its strong performance. Additionally, the company reaffirmed its full-year guidance, projecting organic growth of 3-5% and adjusted EPS of $3.10-$3.30.
In corporate governance news, Flowserve announced changes to its Board of Directors, with John L. Garrison taking over as Independent (LON:IOG) Chairman and Ross B. Shuster joining as a new director. The company also declared a quarterly cash dividend of $0.21 per share, payable on July 11, 2025. Furthermore, Flowserve’s shareholders approved executive compensation and ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2025. These developments reflect Flowserve’s ongoing efforts to enhance its growth strategy and maintain strong financial performance.
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