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FLOW SPX FLOW

Based in Charlotte, N.C., SPX FLOW, Inc. improves the world through innovative and sustainable solutions. The company's product offering is concentrated in process technologies that perform mixing, blending, fluid handling, separation, thermal heat transfer and other activities that are integral to processes performed across a wide variety of nutrition, health and industrial markets. SPX FLOW had approximately $1.4 billion in 2020 annual revenues and has operations in more than 30 countries and sales in more than 140 countries.

Company profile

Ticker
FLOW
Exchange
Website
CEO
Marcus Michael
Employees
Incorporated
Location
Fiscal year end
SEC CIK

FLOW stock data

(
)

Calendar

7 May 21
27 Jul 21
31 Dec 21
Quarter (USD)
Apr 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from SPX FLOW earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 380.7M 380.7M 380.7M 380.7M 380.7M 380.7M
Cash burn (monthly) 20.3M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 77.12M n/a n/a n/a n/a n/a
Cash remaining 303.58M n/a n/a n/a n/a n/a
Runway (months of cash) 15.0 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Jun 21 Peter J. Ryan Common Stock Payment of exercise Dispose F No No 66.21 1,124 74.42K 11,844
10 Jun 21 Peter J. Ryan Common Stock Option exercise Aquire M No No 0 2,514 0 12,968
10 Jun 21 Peter J. Ryan RSU Common Stock Option exercise Dispose M No No 0 2,514 0 3,828
24 May 21 Campbell Patrick D Common Stock Sell Dispose S No No 68.09 10,000 680.9K 13,279
12 May 21 Anne K. Altman Common Stock Grant Aquire A No No 0 1,949 0 22,022
12 May 21 Jonathan M Pratt Common Stock Grant Aquire A No No 0 1,949 0 4,025
12 May 21 Campbell Patrick D Common Stock Grant Aquire A No No 0 1,949 0 23,279

Financial report summary

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Risks
  • We have been and continue to be negatively impacted by the COVID-19 pandemic and its related impacts to our employees, operations, customers and suppliers.
  • Many of the markets in which we operate are cyclical or are subject to industry events, and our results have been and could be affected as a result.
  • Our business depends on capital investment and maintenance expenditures by our customers.
  • Our customers could be impacted by commodity availability and price fluctuations.
  • Our future restructuring activities could result in additional costs and operational difficulties which may affect our business.
  • The price and availability of raw materials may adversely affect our business.
  • Cost overruns, delays, penalties or liquidated damages could negatively impact our results, particularly with respect to long-term fixed-price contracts.
  • The loss of key personnel and an inability to attract and retain qualified employees could have a material adverse effect on our operations.
  • We operate in highly competitive markets. Our failure to compete effectively could harm our business.
  • Our strategy to outsource various elements of the products and services we sell subjects us to the business risks of our suppliers and subcontractors, which could have a material adverse impact on our operations.
  • Credit and counterparty risks could harm our business.
  • Failure to protect or unauthorized use of our intellectual property may harm our business.
  • If we are unable to protect our information systems against data corruption, cyber-based attacks or network security breaches, our operations could be disrupted.
  • We are subject to potential labor disputes, extreme weather conditions and natural and other disasters, which may adversely impact our operations and cause us to incur incremental costs.
  • Our technology is important to our success, and failure to develop new products may result in a significant competitive disadvantage.
  • Our current and planned products may contain defects or errors that are detected only after delivery to customers. If that occurs, our reputation may be harmed and we may face additional costs.
  • Difficulties presented by international economic, political, legal, accounting and business factors could negatively affect our business.
  • Our global operations could be negatively impacted by the economic and political instability caused by the exit of the United Kingdom (“U.K.”) from the European Union (“E.U.”).
  • Currency conversion risk could have a material impact on our reported results of business operations.
  • Failure to comply with the U.S. Foreign Corrupt Practices Act, the U.K. Bribery Act or other applicable anti-bribery laws could have an adverse effect on our business.
  • If the fair value of any of our reporting units is insufficient to recover the carrying value of the goodwill and other intangibles of the respective reporting unit, a material non-cash charge to earnings could result.
  • Changes in tax laws and regulations or other factors could cause our income tax rate to increase, potentially reducing our earnings and adversely affecting our cash flows.
  • We are subject to laws, regulations and potential liability relating to claims, complaints and proceedings, including those relating to environmental and other matters.
  • Our indebtedness may affect our business and may restrict our operating flexibility.
  • We may not be able to finance future needs or adapt our business plan to react to changes in economic or business conditions because of restrictions placed on us by our senior credit facilities and any existing or future instruments governing our other indebtedness.
  • Increases in the number of shares of our outstanding common stock could adversely affect our common stock price or dilute our earnings per share.
  • Provisions in our corporate documents and Delaware law may delay or prevent a change in control of our company, and accordingly, we may not consummate a transaction that our shareholders consider favorable.
  • In connection with our Spin-Off, our former Parent agreed to indemnify us for certain liabilities and we agreed to indemnify our former Parent for certain liabilities. If we are required to act on these indemnities to our former Parent, we may need to divert cash to meet those obligations and our financial results could be negatively impacted. The indemnity from our former Parent may not be sufficient to insure us against the full amount of liabilities for which we will be allocated responsibility, and our former Parent may not be able to satisfy its indemnification obligations in the future.
  • The Spin-Off may expose us to potential liabilities arising out of state and federal fraudulent conveyance laws and legal dividend requirements.
  • A court could require that we assume responsibility for obligations allocated to our former Parent under the Separation and Distribution Agreement.
  • We are subject to continuing contingent tax liabilities of our former Parent.
Management Discussion
  • Revenues - For 2020, the decrease in revenues, compared to 2019, was primarily due to a decrease in organic revenue and, to a modest extent, a strengthening of the U.S. dollar during the period against various foreign currencies. The decrease in organic revenue was due to (i) a lower level of systems revenue in our Food and Beverage segment, including large dry-dairy systems revenues, as anticipated, as well as lower components and aftermarket service revenues, and (ii) reduced demand and shipments across the majority of our short-cycle Industrial segment product lines and end markets, primarily associated with global macroeconomic conditions resulting from the effects of the COVID-19 pandemic. Additionally, the Industrial segment had lower opening shippable backlog in 2020 than in 2019.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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Patents

GRANT
Utility
Heat exchanger module unit
26 Jan 21
A heat exchanger module unit that provides heat exchange between a fluid and a heat medium by indirect heat exchange through a phase-change material disposed between movement paths of the fluid and the heat medium movement paths, includes: a multiple number of plates having a partition, which is formed with a through-hole through which the fluid and the heat medium move, are stacked with a spacing gap, through which the fluid and the heat medium move, at one side of the partition; the spacing gaps are selectively connected through a connector connecting the respective through-holes so as to form a fluid passage and a heat medium passage through which the fluid and the heat medium move independently respectively; the spacing gap, in which the phase-change material is received, is located and disposed between the spacing gaps forming the fluid passage and the heat medium passage through which the fluid and the heat medium move respectively such that heat exchange is made between the fluid and the heat medium through the phase-change material.
APP
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Port Connection for a Heat Exchanger
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APP
Utility
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The present disclosure pertains to a system configured to protect flows in piping systems using minimal spare components.
APP
Utility
Hygienic Heat Exchanger
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A hygienic food product to food product heat exchanger (1).
APP
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Two-stage Air Dryer System
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Provided is a two-stage dryer system.