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Can Innovation Boost Flowserve's Market Share?

PART:
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Can Innovation Boost Flowserve's Market Share? PART 1 OF 17

Inside Flowserve’s Plan to Boost Its Market Share

Flowserve’s background and business

Incorporated in 1912, Flowserve (FLS) is a leading manufacturer, distributor, and service provider of industrial flow management equipment. Industrial flow management equipment includes pumps, valves, mechanical seals, automation, and aftermarket services support.

FLS operates in 50 manufacturing locations and provides a diverse range of flow control equipment. It sells its products and services to over 10,000 companies across the globe, serving customers in 90 countries and employing ~19,000 people worldwide.

Inside Flowserve&#8217;s Plan to Boost Its Market Share

Inside Flowserve&#8217;s Plan to Boost Its Market Share

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The company operates in three segments:

  • Engineered Products
  • Flow Control
  • Industrial Products

Each segment has strong brands with leading positions in their respective markets. The segments contributed around 49%, 30%, and 21%, respectively, to the company’s consolidated revenues for 2015.

Diverse industry sectors

Under brand names like GASPAC® and QRCTM, FLS’s products and solutions are used across diverse industry sectors. The company’s major end-user markets include oil and gas, chemicals, power generation, water management, and general industries such as mining and ore processing, pharmaceuticals, pulp and paper, and food and beverage.

On a yearly basis from May 20, 2015, until May 20, 2016, both Flowserve and the S&P 500 ETF Index (SPY) declined by 19.5% and 3.6%, respectively. On a YTD (year-to-date) basis as of May 20, 2016, FLS has gained ~10.7%, as compared to SPY’s increase of 2.5% during the same period.

Other players in the welding product industry include Emcor Group (EME), Graco (GGG), and Xylem (XYL), which has seen year-over-year stock price gains of 0.7%, 6.9%, and 18.3%, respectively, as of May 20, 2016.

Now let’s analyze Flowserve’s core strengths.

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