(RTTNews) - Flowserve (FLS) has terminated its merger agreement for Flowserve to combine with Chart Industries, Inc. (GTLS). The termination follows the Flowserve Board decision not to submit a revised offer to merge with Chart, after being notified that Chart's Board had determined that a recent unsolicited acquisition proposal from Baker Hughes (BKR) constituted a superior proposal. Flowserve will receive a $266 million termination payment.
Separately, Flowserve Corporation reported its financial results for the second quarter ended June 30, 2025. The company's bottom line came in at $81.75 million, or $0.62 per share. This compares with $72.62 million, or $0.55 per share, last year. Adjusted earnings per share was $0.91 compared to $0.73. Analysts on average had expected the company to earn $0.78 per share. Analysts' estimates typically exclude special items. Sales were $1.19 billion compared to $1.16 billion, last year.
Also, Flowserve increased full-year 2025 adjusted EPS guidance to $3.25-$3.40, from $3.10-$3.30, an increase of more than 25% at the midpoint of the range. Organic sales growth is now projected in a range of 3% to 4%.
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