Benzinga - by Zacks, Benzinga Contributor.
Flowserve Corporation (NYSE: FLS) recently collaborated with Heide Refinery to enhance the latter's energy efficiency and cost savings by integrating FLS' Energy Advantage Program.
Based in Germany, Heide is the northernmost crude oil refinery in the region. The company is engaged in manufacturing petroleum products including petrol, diesel and aviation fuel. It also produces light heating oil and base materials for the chemical industry.
Flowserve's Energy Advantage Program, which uses a flow control approach, helps in advancing energy efficiency for its clients by optimizing the consumption of pump and valve power. This program helps users in reducing carbon emissions and the overall cost of ownership.
This deal between the two companies is in line with Heide's carbon reduction targets. The partnership will enable Heider to provide sustainable energy to its clients and improve energy efficiency into its value chain. After analyzing Heide's highest energy-consuming flow loops, FLS engineers have recommended flow control solutions that complement the company's prevailing process requirements. With the help of Flowserve's Energy Advantage Program, Heide is expected to reduce power consumption by more than 2,000 megawatt hours and lower carbon emissions by more than 1,300 metric tons every year.
Zacks Rank and Price Performance FLS currently carries a Zacks Rank #2 (Buy). In the past six months, the stock gained 23.9% compared with the industry's 8.5% growth.
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Record levels of booking, driven by strong MRO and aftermarket activity, are driving Flowserve's growth. Solid momentum in the company's original equipment and aftermarket businesses, supported by the positive trends, are aiding the Flowserve Pump Division and Flow Control Division segments.
Other Stocks to Consider Some other top-ranked companies from the Industrial Products sector are discussed below.
Belden Inc. (NYSE: BDC) presently carries a Zacks Rank of 2 and has a trailing four-quarter earnings surprise of 14.7%, on average.
The consensus estimate for BDC's 2024 earnings has increased 8.3% in the past 60 days. Shares of Belden have gained 29.6% in the past six months.
Applied Industrial Technologies, Inc. (NYSE: AIT) presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 8.2%.
The consensus estimate for AIT's fiscal 2024 earnings has improved 1.4% in the past 60 days. The stock has risen 11.8% in the past six months.
Crane Company (NYSE: CR) presently carries a Zacks Rank of 2. CR delivered a trailing four-quarter earnings surprise of 15.2%, on average.
The Zacks Consensus Estimate for CR's 2024 earnings has increased 4% in the past 60 days. Its shares have gained 32.5% in the past six months.
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