Senior Vice President & Chief Financial Officer, Flowserve
Search every verified Amy Schwetz interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Amy Schwetz, Senior Vice President and Chief Financial Officer of Flowserve Corporation, spoke at the Gabelli PVW Symposium on March 17, 2025. She stated that 2023 and 2024 were "exciting years" for the company, characterized by a mix of supportive end markets and internal improvements. Schwetz noted that the company's formula involves growing revenue, expanding margins, and generating significant cash flow. She reported a backlog of $2.8 billion at the start of 2025, with 83% expected to convert into revenue that year, and described aftermarket bookings of over $600 million for three consecutive quarters. Schwetz discussed the company's M&A strategy, which she said focuses on diversification, decarbonization, and digitization, with acquisitions primarily used for diversification into new markets. She highlighted the recent acquisition of Mogus, which she said adds about $775 million in revenue and strengthens the flow control division for mining and oil and gas applications. Schwetz also addressed the company's nuclear power business, describing it as a strong margin business with growth opportunities globally, and noted that the company has diversified its supply chain across China, India, and Mexico to manage tariff-related risks.
“We've had a nice mix of supportive end markets and self-help over the last couple of years. Our formula is to grow revenue, expand margins, and generate a significant amount of cash flow to make the business stronger.”
“We have a really strong backlog of projects with $2.8 billion to start the year, and about 83% of that we expect to convert into revenue in 2025. Our aftermarket bookings have been strong, with over $600 million for three quarters in a row.”
“Our nuclear power business is a strong margin business with a robust aftermarket, and we are excited about growth opportunities globally, including in the Middle East, Asia, and decarbonization efforts worldwide.”
“We see the Middle East continuing to move up the value chain from oil and gas, benefiting Flowserve with projects like the $240 million Jaura project, which was one of the largest in our history. While mega projects are fewer, there are many mid-sized projects in the $20 to $40 million range that provide good margins.”
Simon Wong (Portfolio Manager, Research Analyst) moderates a discussion with Flowserve Corporation's (NYSE: FLS) CFO Amy ...
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