Flowserve Corporation (FLS) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the FlowServe second quarter 2025 earnings call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Brian Ezell, Vice President, Investor Relations, Treasurer, and Corporate Finance. Please go ahead. Thank you, and good morning, everyone. Welcome to FlowServe's second quarter 2025 business update. I'm joined by Scott Rowe, FlowServe's President and Chief Executive Officer, and FlowServe's Chief Financial Officer, Amy Sweats. Turning to slide two, our discussion will contain forward-looking statements that are based upon information available as of today. Actual results may differ due to risks and uncertainties. Refer to additional information, including our note on non-GAAP measures in our press release, earnings presentation, and SEC filings, which are available on our website. I will now turn it over to Scott. Great. Thank you, Brian. Good morning, everyone. Before we talk about our outstanding second quarter results, I want to provide an update on the chart merger. As we announced yesterday, we reached an agreement to terminate the proposed merger with Chart Industries. When we were first approached by Chart about the potential merger, we took a very disciplined approach to the discussion, with a focus on ensuring the strong value creation opportunities offered by FlowServe would continue in the merger. This disciplined approach guided us through our decision-making process following the subsequent all-cash offer for chart from Baker Hughes. Based on our assessment, further pursuing the merger would have been value-diminishing to FlowServe shareholders, given the additional cash, leverage, and diluted ownership required to continue the process. While we are disappointed in this outcome, we are confid...