AcquisitionsApr 29, 2026, 04:31 PM
FLS to Acquire Trillium Valves for $490M; Q1 EPS $0.64, Sales $1.07B
AI Summary
Flowserve Corp. announced a definitive agreement to acquire Trillium Flow Technologies’ Valves Division for $490M in cash, expected to close mid-2026. For Q1 2026, the company reported a 14.3% increase in diluted EPS to $0.64, despite a 6.7% decline in sales to $1,068.269M. Net earnings attributable to Flowserve Corporation grew 10.5% to $81.681M, significantly aided by a $35.4M tariff refund recognized during the quarter. Additionally, Flowserve signed an agreement to acquire the remaining 51% equity interest in Flowserve Al Mansoori Services Company for $34.5M, while noting ongoing impacts from the Middle East conflict on regional demand and supply chains.
Key Highlights
- FLS signed agreement to acquire Trillium Flow Technologies’ Valves Division for $490M cash.
- Q1 2026 diluted EPS increased 14.3% to $0.64 from $0.56 YoY.
- Q1 2026 sales decreased 6.7% to $1,068.269M from $1,144.543M YoY.
- Net earnings attributable to FLS rose 10.5% to $81.681M from $73.905M YoY.
- Recognized $35.4M tariff refund in Q1 2026, reversing cost of sales and inventory.
- Signed agreement to acquire remaining 51% equity in FAMCO for $34.5M.
- FPD Q1 2026 revenue was $743.046M; FCD Q1 2026 revenue was $325.223M.
- Declared cash dividends of $0.22 per share in Q1 2026.