Latest news with #Flowserve
Fibre2Fashion
01-08-2025
- Business
- Fibre2Fashion
US' Chart industries end Flowserve deal, accepts Baker Hughes proposal
Chart Industries, Inc. (NYSE: GTLS), a global leader in energy and industrial gas solutions, today announced that, prior to entering into the definitive agreement with Baker Hughes Company (Nasdaq: BKR) that was announced separately today, the Company and Flowserve Corporation (NYSE: FLS) terminated their previously announced merger agreement. Chart Industries has ended its merger agreement with Flowserve after its Board, with legal and financial advisors, deemed Baker Hughes' acquisition proposal a 'Superior Chart Proposal.' Chart has now entered a definitive agreement with Baker Hughes. Wells Fargo and Winston & Strawn advised Chart, with Collected Strategies as communications advisor. The transaction with Baker Hughes follows a determination by the Chart Board of Directors, with the assistance of its financial and legal advisors, that an acquisition proposal received from Baker Hughes constitutes a 'Superior Chart Proposal' under the terms of its merger agreement with Flowserve. Wells Fargo is serving as financial advisor and Winston & Strawn LLP is serving as legal advisor to Chart. Collected Strategies is serving as Chart's strategic communications advisor. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. ALCHEMPro News Desk (HU)
Yahoo
30-07-2025
- Business
- Yahoo
What To Expect From Ingersoll Rand's (IR) Q2 Earnings
Industrial manufacturing company Ingersoll Rand (NYSE:IR) will be reporting results this Thursday after market close. Here's what investors should know. Ingersoll Rand met analysts' revenue expectations last quarter, reporting revenues of $1.72 billion, up 2.8% year on year. It was a slower quarter for the company, with full-year EBITDA guidance missing analysts' expectations and a miss of analysts' EBITDA estimates. Is Ingersoll Rand a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Ingersoll Rand's revenue to grow 2.1% year on year to $1.84 billion, slowing from the 7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.80 per share. Heading into earnings, analysts covering the company have mixed opinions about the business, with revenue estimates seeing 3 upward and 4 downward revisions over the last 30 days. Ingersoll Rand has missed Wall Street's revenue estimates five times over the last two years. Looking at Ingersoll Rand's peers in the gas and liquid handling segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 5.6%, beating analysts' expectations by 2.5%, and Flowserve reported revenues up 2.7%, falling short of estimates by 3.1%. Gorman-Rupp traded up 9.9% following the results. Read our full analysis of Gorman-Rupp's results here and Flowserve's results here. There has been positive sentiment among investors in the gas and liquid handling segment, with share prices up 5.5% on average over the last month. Ingersoll Rand is up 4.7% during the same time and is heading into earnings with an average analyst price target of $93.47 (compared to the current share price of $87.07). When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we've found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
Yahoo
30-07-2025
- Business
- Yahoo
Standex (SXI) Q2 Earnings: What To Expect
Industrial manufacturer Standex (NYSE:SXI) will be reporting results this Thursday afternoon. Here's what to look for. Standex beat analysts' revenue expectations by 1.7% last quarter, reporting revenues of $207.8 million, up 17.2% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts' EPS estimates but a slight miss of analysts' EBITDA estimates. Is Standex a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Standex's revenue to grow 19% year on year to $214.4 million, a reversal from the 4.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.10 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Standex has missed Wall Street's revenue estimates four times over the last two years. Looking at Standex's peers in the gas and liquid handling segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 5.6%, beating analysts' expectations by 2.5%, and Flowserve reported revenues up 2.7%, falling short of estimates by 3.1%. Gorman-Rupp traded up 9.9% following the results. Read our full analysis of Gorman-Rupp's results here and Flowserve's results here. There has been positive sentiment among investors in the gas and liquid handling segment, with share prices up 5.5% on average over the last month. Standex is up 5.6% during the same time and is heading into earnings with an average analyst price target of $197 (compared to the current share price of $165.29). Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Sign in to access your portfolio
Reuters
29-07-2025
- Business
- Reuters
Baker Hughes bets on LNG, data center demand with $13.6 billion Chart Industries deal
July 29 (Reuters) - Baker Hughes (BKR.O), opens new tab said on Tuesday it would buy Chart Industries (GTLS.N), opens new tab in a $13.6 billion all-cash deal, including debt, edging out rival suitor Flowserve (FLS.N), opens new tab, to expand in the LNG, data centers and decarbonization segments. The deal is part of Baker Hughes' efforts to leverage its industrial and energy technology portfolio, which helped boost second-quarter earnings, and adds to the ongoing consolidation in the oilfield services and industrial supply sector. The company has offered Chart Industries' shareholders $210 per share held, representing a premium of about 22% based on the last close. Chart Industries shares were up 16.2% at $199.50 in premarket trading. The deal follows Chart's termination of a prior deal to merge with Flowserve, which decided not to raise its bid after being told Baker Hughes' proposal was "superior". Shares of Flowserve, which will receive a $266 million breakup fee, were up 4.36% at $57.25 in premarket trading. Flowserve's all-stock bid valued Chart at $159.98 per share, according to Reuters calculations. The transaction has an equity value of about $9.44 billion, according to Reuters calculation. It is expected to close by mid-year 2026. Chart manufactures industrial equipment such as valves and measurement technology for gas and liquid molecule handling. Baker Hughes said $325 million in annualized cost synergies were expected to be realized at end of the third year.
Yahoo
29-07-2025
- Business
- Yahoo
Flowserve Corporation Terminates Merger with Chart Industries
Flowserve Will Receive a $266 Million Termination Payment Flowserve Highlights Ability to Drive Enhanced Value Creation Through Strength of Platform and Momentum of the Flowserve Business System DALLAS, July 29, 2025--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS) ("Flowserve"), a leading provider of flow control products and services for the global infrastructure markets, today announced it has terminated its previously announced merger agreement for Flowserve to combine with Chart Industries, Inc. (NYSE: GTLS) ("Chart"). The termination follows the Flowserve Board of Directors' decision not to submit a revised offer to merge with Chart, after being notified that Chart's Board of Directors had determined that a recent unsolicited acquisition proposal from Baker Hughes (NASDAQ: BKR) constituted a "superior proposal" under the terms of the merger agreement. In accordance with the terms of the merger agreement, Flowserve will receive a $266 million termination payment. "Flowserve is executing from a position of clear strength, driven by sustained financial momentum, impressive operational performance, and continued robust global demand for our mission-critical flow control solutions across the industrial spectrum," said Scott Rowe, Flowserve's President and Chief Executive Officer. "The decision not to pursue a revised offer for Chart demonstrates our commitment to financial discipline, as well as our confidence in the growth prospects of our standalone business. Our results reflect the successful execution of our 3D growth strategy—Diversify, Decarbonize, and Digitize—while the Flowserve Business System continues to enhance productivity, expand margins, accelerate decision-making, and unlock long-term value." Rowe continued, "We are generating strong free cash flow and delivering tangible progress across all business segments, positioning us to invest in innovation and strategic initiatives that support both our customers' evolving needs and global sustainability trends. Backed by a resilient business model and an aligned, high-performing organization, we are confident in our ability to deliver sustained, profitable growth, generate superior returns, and create long-term value for shareholders." In a separate press release issued today, the Company announced its financial results for the second quarter ended June 30, 2025. Flowserve will host its conference call to discuss second quarter results on Wednesday, July 30, at 11:00 a.m. Eastern Time. The call can be accessed by shareholders and other interested parties on Flowserve's Investors page. About Flowserve Flowserve Corporation is one of the world's leading providers of fluid motion and control products and services. Operating in more than 50 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 website at 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: global supply chain disruptions and the current inflationary environment could adversely affect the efficiency of our manufacturing and increase the cost of providing our products to customers; 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 global economic conditions 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; if we are not able to successfully execute and realize the expected financial benefits from any restructuring and realignment initiatives, our business could be adversely affected; the substantial dependence of our sales on the success of the energy, chemical, power generation and general 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, trade embargoes, epidemics or pandemics and changes to tariffs or trade agreements that could affect customer markets, particularly North African, Latin American, Asian and 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; the impact of public health emergencies, such as outbreaks of epidemics, pandemics, and contagious diseases, on our business and operations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; potential adverse effects resulting from the implementation of new tariffs and related retaliatory actions and changes to or uncertainties related to tariffs and trade agreements; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Argentina; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; 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; if we are not able to maintain our competitive position by successfully developing and introducing new products and integrate new technologies, including artificial intelligence and machine learning; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the United States, as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; 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. The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating, planning and compensation decisions and in evaluating the Company's performance. Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed in addition to, and not as a substitute for, the Company's reported results prepared in accordance with GAAP. View source version on Contacts Investor Contacts Brian EzzellVice President, Investor Relations, Treasurer & Corporate Finance(469) 420-3222 Tarek ZeniDirector, Investor Relations(469) 420-4045 Media Contact David MasonSenior Director, Communications(214) 500-9687 Andi Rose / Mahmoud SiddigJoele Frank, Wilkinson Brimmer Katcher(212) 355-4449arose@ / msiddig@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
