Flowserve(US:FLS) ZACKS·2025-03-14 14:12Core Insights - Flowserve Corporation has launched the INNOMAG TB-MAG Dual Drive, the world's first sealless pump, aimed at enhancing safety in handling hazardous chemicals [1][3] - The new pump design addresses the limitations of traditional Canned Motor Pumps (CMPs) by providing an airtight secondary layer of protection, thus preventing leaks [2][3] - Flowserve's business is currently experiencing strong momentum, particularly in its Pump and Flow Control Divisions, driven by robust demand in various regions [5] Product Features - The INNOMAG TB-MAG Dual Drive pump features ISO/ASME compliance, easy installation, low maintenance, and high reliability, making it suitable for corrosive chemicals [4] - The pump can be purchased as a complete unit or upgraded with the Dual Drive unit, aligning with Flowserve's 3D strategy focused on diversification, decarbonization, and digitization [4] Financial Performance - Flowserve has shown commitment to shareholder returns, distributing $110.4 million in dividends and repurchasing $20.1 million in shares in 2024, with a 5% increase in quarterly dividends [6] - The company's revenue streams include original equipment manufacturing and aftermarket sales, with a notable increase in bookings across various industries [8] Cost Challenges - The company faces rising costs, with sales expenses increasing by 2.6% year over year to $3.12 billion in 2024, representing 68.5% of net sales [7] - Selling, general, and administrative expenses also saw a 1.7% increase in 2024, posing a challenge to profitability [7] Competitive Landscape - Flowserve operates in a competitive environment, facing challenges from companies like RBC Bearings Incorporated, The Middleby Corporation, and Applied Industrial Technologies [8]