Flowserve Q3 GAAP EPS falls 51.5% to $0.81

Bookings rose 14.1% and backlog 19.9%, while Flowserve lowered its 2026 total sales-growth outlook to +2% to +3%.

Rhea-AI Filing Summary

Flowserve Corporation (FLS) reported third-quarter 2026 sales of $1,237.8 million, up 5.4% from a year earlier, while organic sales declined 1.2%. Total bookings rose 14.1% to $1,383.5 million, and backlog was $3,471.8 million, up 19.9%. Adjusted operating margin increased to 16.5% from 14.8%, and adjusted EPS was $1.07 versus $0.90. Diluted GAAP EPS was $0.81, down 51.5% from $1.67; cash from operations was $144.1 million versus $401.8 million.

Flowserve revised its 2026 outlook: total sales growth is now +2% to +3%, compared with approximately +3% previously, while the adjusted EPS range is $4.10 to $4.20, raised from $4.05 to $4.20. Capital expenditures are now expected to be approximately $90 million, compared with approximately $100 million previously. Management attributed the sales outlook change to more challenging Middle East conditions delaying customer activity and revenue conversion, and said those conditions are expected to impact fourth-quarter sales. Guidance assumes tariff rates in place as of October 1, 2026, and increasingly challenging Middle East conditions.

2 points · 0 major

NegativeiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointQ3 reported sales increased 5.4% to $1,237.8 million.
• Moderate pointQ3 adjusted EPS rose 18.9% to $1.07.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.2026 total sales growth guidance shifted from approximately 3% to +2% to +3%.
• Moderate pointQ3 diluted GAAP EPS declined 51.5% to $0.81.
• Moderate pointQ3 cash from operations was $144.1 million, versus $401.8 million.

Filing Explained

At September 30, 2026, Flowserve reported long-term debt of $2,046,807 thousand, versus $1,525,210 thousand at December 31, 2025; its nine-month cash-flow statement also reports $499,320 thousand of net proceeds from senior-note issuance.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Reported sales: $1,237.8 million Total bookings: $1,383.5 million Diluted GAAP EPS: $0.81 +5 more

8 metrics

Reported sales $1,237.8 million Q3 2026; up 5.4% year over year

Total bookings $1,383.5 million Q3 2026; up 14.1% year over year

Diluted GAAP EPS $0.81 Q3 2026; down 51.5% year over year

Adjusted EPS $1.07 Q3 2026; up 18.9% year over year

Cash from operations $144.1 million Q3 2026; versus $401.8 million in Q3 2025

Backlog $3,471.8 million Q3 2026; up 19.9% year over year

Total sales growth guidance +2% to +3% 2026 current guidance; prior guidance was approximately +3%

Adjusted EPS guidance $4.10 to $4.20 2026 current guidance; prior range was $4.05 to $4.20

Key Terms

Organic Bookings, Adjusted Operating Margin, Adjusted Earnings Per Share (EPS), non-GAAP financial measures

4 terms

Organic Bookings financial

"Organic Bookings"

Organic bookings are the value of new orders or sales a company records during a period after removing growth that comes from acquisitions, divestitures or currency swings. Investors watch organic bookings as a cleaner measure of how well a company’s underlying business and sales teams are actually winning new customers and demand — like measuring how many new seedlings grew in your garden rather than counting potted plants you bought.

Adjusted Operating Margin financial

"Adjusted Operating Margin"

Adjusted operating margin shows how much profit a company makes from its core business activities, after removing unusual or one-time costs and income. It helps investors see the company's true profitability by providing a clearer picture, similar to removing unexpected expenses to understand the regular performance. This metric is useful for comparing companies or tracking performance over time, as it highlights consistent earning power.

Adjusted Earnings Per Share (EPS) financial

"Adjusted Earnings Per Share (EPS)"

Adjusted earnings per share (EPS) is a company’s profit allocated to each share of common stock after removing one-time items or unusual accounting effects so investors see the company’s recurring earnings. It matters because it gives a clearer picture of ongoing profitability—like comparing a household’s regular monthly income rather than a month that included an inheritance or a big repair bill—helping investors compare companies and judge sustainable earnings per share.

non-GAAP financial measures financial

"non-GAAP financial measures which exclude certain non-recurring items"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

Earnings Snapshot

Reported sales: $1,237.8 million · Guidance included

Q3 2026

Reported sales $1,237.8 million +5.4% year over year

Total bookings $1,383.5 million +14.1% year over year

Adjusted EPS $1.07 +18.9% year over year

Diluted GAAP EPS $0.81 down 51.5% year over year

Adjusted operating margin 16.5% +170 basis points year over year

Guidance

2026 total sales growth of +2% to +3%; adjusted EPS of $4.10 to $4.20; capital expenditures of approximately $90 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did Flowserve (FLS) perform in the third quarter of 2026?

Flowserve reported sales of $1,237.8 million, up 5.4%, and total bookings of $1,383.5 million, up 14.1%, from the year-earlier quarter. Adjusted EPS was $1.07, up 18.9%, while diluted GAAP EPS was $0.81, down 51.5%.

What is Flowserve's 2026 guidance?

Flowserve's 2026 guidance calls for total sales growth of +2% to +3% and adjusted EPS of $4.10 to $4.20. The company revised its prior approximate 3% sales growth outlook and raised the low end of its adjusted EPS range from $4.05; capital expenditures are approximately $90 million, compared with approximately $100 million previously. The guidance assumes tariff rates in place as of October 1, 2026, and increasingly challenging Middle East conditions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/28/2026 - 04:19 PM EDT Accepted by SEC EDGAR 10/28/2026 - 04:18 PM EDT Learn about SEC filing dates

FLOWSERVE CORP false 0000030625 0000030625 2026-10-28 2026-10-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 28, 2026

FLOWSERVE CORPORATION

(Exact Name of Registrant as Specified in its Charter)

New York		1-13179		31-0267900
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

5215 N. O’Connor Blvd., Suite 700, Irving, Texas		75039
(Address of Principal Executive Offices)		(Zip Code)

(972) 443-6500

(Registrant’s telephone number, including area code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $1.25 Par Value		FLS		New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On October 28, 2026, Flowserve Corporation, a New York corporation (the “Company”), issued a press release announcing financial results for the third quarter ended September 30, 2026. A copy of this press release is attached as Exhibit 99.1 and incorporated herein by reference.

The information furnished in Item 2.02 of this Form 8-K and in Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, unless specifically identified therein as being incorporated therein by reference.

Item 7.01 Regulation FD Disclosure.

On October 29, 2026, the Company will make a presentation about its financial and operating results for the third quarter of 2026, as noted in the press release described in Item 2.02 above. The Company has posted the presentation on its website at http://www.flowserve.com under the “Investors” section.

The information furnished in Item 7.01 of this Form 8-K and in Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that section and shall not be deemed incorporated by reference into any filing under the Securities Act, or the Exchange Act, unless specifically identified therein as being incorporated therein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
99.1		Press Release, dated October 28, 2026.
104		Cover Page Interactive Data File (embedded within the Inline XBRL Document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				FLOWSERVE CORPORATION
Dated: October 28, 2026				By:		/s/ Brian Ezzell
						Brian Ezzell
						Senior Vice President, Chief Financial Officer and
						Interim Chief Accounting Officer

EXHIBIT 99.1

Flowserve Corporation Reports Third Quarter 2026 Results

Flowserve Business System Delivers Strong Q3 Performance; Updates 2026 Guidance

DALLAS, October 28, 2026 – Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, reported its financial results for the third quarter ended September 30, 2026.

Highlights:

• Bookings of $1.38 billion, up 14% on a reported basis and 8% organically versus the prior-year period

• Record aftermarket bookings of $728 million

• Operating margin of 12.5% expanded 580 basis points and adjusted¹ operating margin² of 16.5% expanded 170 basis points compared to the prior-year period

• Reported EPS of $0.81 and adjusted EPS³ of $1.07

• Raised the low end of full-year 2026 adjusted EPS³ guidance to $4.10 to $4.20

• Revised full-year 2026 organic sales guidance to down 2.5% to down 1.5% reflecting increasingly challenging conditions in the Middle East

• Backlog of $3.5 billion, up 20% year over year, the largest backlog in Flowserve’s history

Management Commentary:

“Our teams delivered another quarter of meaningful bookings growth, adjusted operating margin expansion, and higher adjusted earnings per share while navigating ongoing Middle East disruption,” said Scott Rowe, Flowserve’s President and Chief Executive Officer. “The Flowserve Business System is helping us translate solid market demand into bookings growth and stronger profitability, with a clear focus on growth, execution, and customer service. The resilience and commitment of our associates around the globe remain instrumental in our ability to deliver for our customers and shareholders.”

“With three quarters behind us, our year-to-date earnings performance and continued margin expansion support raising the low end of our adjusted EPS guidance range. At the same time, we are lowering our full-year sales growth outlook to reflect more challenging operating conditions in the Middle East, which are delaying customer activity and revenue conversion and are expected to impact fourth-quarter sales. Significant growth in our backlog, alongside healthy underlying demand across our end markets, reinforces our confidence in delivering mid-single digit organic sales CAGR through 2030, while continued operational progress supports our broader long-term financial targets. We remain focused on converting our growing backlog to sales, further reducing complexity in our operations, and continuing to deliver margin expansion to create shareholder value.”

Key Figures (unaudited):

(dollars in millions, except per share)		Q3 2026				Q3 2025				Change				YTD 2026				YTD 2025				Change
Organic Bookings											7.7	%											6.1	%
Acquisitions/Divestitures Impact											660 bps												270 bps
Foreign Exchange Impact											(20 bps	)											150 bps
Total Bookings		$	1,383.5			$	1,213.0				14.1	%		$	3,872.5			$	3,511.2				10.3	%
Original Equipment Bookings		$	655.8			$	559.9				17.1	%		$	1,768.6			$	1,549.0				14.2	%
Aftermarket Bookings		$	727.7			$	653.1				11.4	%		$	2,103.9			$	1,962.2				7.2	%
Organic Sales4											(1.2	%)											(4.9	%)
Acquisitions/Divestitures Impact											670 bps												260 bps
Foreign Exchange Impact											(10 bps	)											140 bps
Reported Sales		$	1,237.8			$	1,174.4				5.4	%		$	3,475.2			$	3,507.1				(0.9	%)
Operating Margin			12.5	%			6.7	%			580 bps				12.2	%			10.2	%			200 bps
Adjusted Operating Margin			16.5	%			14.8	%			170 bps				15.6	%			14.1	%			150 bps
Earnings Per Share (EPS)		$	0.81			$	1.67				(51.5	%)		$	2.21			$	2.85				(22.5	%)
Adjusted Earnings Per Share (EPS)		$	1.07			$	0.90				18.9	%		$	2.87			$	2.53				13.4	%
Cash From Operations		$	144.1			$	401.8			($	257.7	)		$	230.3			$	506.1			($	275.8	)
Backlog		$	3,471.8			$	2,896.1				19.9	%		$	3,471.8			$	2,896.1				19.9	%

2026 Guidance³:

The Company updated 2026 guidance:

		Prior		Current
Organic Sales Growth		Approx. (1%)		(2.5%) to (1.5%)
Impact From Acquisitions/Divestitures		Approx. +300 bps		Approx. +350 bps
Impact From Foreign Exchange Translation		Approx. +100 bps		Approx. +100 bps
Total Sales Growth		Approx. +3%		+2% to +3%
Adjusted EPS		$4.05 to $4.20		$4.10 to $4.20
Net Interest Expense		Approx. $85 million		Approx. $85 million
Adjusted Tax Rate		21% to 22%		21% to 22%
Capital Expenditures		Approx. $100 million		Approx. $90 million

2

The guidance assumes tariff rates in place as of October 1, 2026, and assumes increasingly challenging conditions in the Middle East, which have been impacted by armed conflict and geopolitical instability.

Webcast and Conference Call Instructions:

Flowserve will host its conference call to discuss third quarter results on Thursday, October 29, 2026, at 8:30 a.m. Eastern Time. The call can be accessed by shareholders and other interested parties on Flowserve’s Investor Relations website.

Upcoming Investor Conferences:

Flowserve announced its participation in the following upcoming investor conferences:

• On Wednesday, November 11, 2026, Scott Rowe and Brian Ezzell, Senior Vice President and Chief Financial Officer, will participate in investor meetings at the Baird Global Industrial Conference. Additionally, Scott Rowe will participate in a fireside chat that will begin at 1:10 p.m. Central Time (2:10 p.m. Eastern Time).

• On Wednesday, December 2, 2026, Brian Ezzell will participate in investor meetings as well as a fireside chat at the Goldman Sachs Industrials and Materials Conference that will begin at 11:30 a.m. Eastern Time.

Shareholders and other interested parties can access the live webcasts of the fireside chats on Flowserve’s Investor Relations website. Replays of the webcasts will be available after the events.

Footnotes

¹ See Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (unaudited) and Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (unaudited) tables for a detailed reconciliation of reported results to adjusted measures.

² Adjusted operating margin is calculated by dividing adjusted operating income by sales. Adjusted operating income is derived by excluding the adjusted items.

³ Adjusted earnings per share (EPS) excludes realignment expenses, the impact from other specific discrete and below-the-line foreign currency effects and utilizes the then-applicable foreign exchange rates and fully diluted shares. Adjusted full-year 2026 EPS guidance excludes certain other discrete items which may arise during the year.

⁴ Organic is defined as the change in sales, as defined by U.S. GAAP, excluding the impacts of currency translation and acquisitions and divestitures. The impact of currency translation is calculated by translating current year results on a monthly basis at prior year exchange rates for the same period.

3

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

		Three Months Ended September 30,
(Amounts in thousands)		2026				2025
Sales		$	1,237,773			$	1,174,434
Cost of sales			(823,393	)			(794,148	)
Gross profit			414,380				380,286
Selling, general and administrative expense			(281,937	)			(305,152	)
Gain on sale of business			16,177				—
Net earnings from affiliates			5,986				4,138
Operating income			154,606				79,272
Interest expense			(26,641	)			(18,738	)
Interest income			2,362				792
Other (expense) income, net			(8,184	)			256,220
Earnings before income taxes			122,143				317,546
(Provision for) benefit from income taxes			(15,090	)			(93,688	)
Net earnings, including noncontrolling interests			107,053				223,858
Less: net earnings attributable to noncontrolling interests			(4,015	)			(4,276	)
Net earnings attributable to Flowserve Corporation		$	103,038			$	219,582
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic		$	0.81			$	1.69
Diluted			0.81				1.67
Weighted average shares - basic			127,164				130,315
Weighted average shares - diluted			127,962				131,235

4

Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands, except per share data)

Three Months Ended September 30, 2026		Gross Profit				Selling, General & Administrative Expense				Gain on Sale of Business				Operating Income				Other Income (Expense), Net				Provision For (Benefit From) Income Taxes				Net Earnings (Loss)				Effective Tax Rate				Diluted EPS
Reported		$	414,380			$	281,937			$	16,177			$	154,606			$	(8,184	)		$	15,090			$	103,038				12.4	%			0.81
Reported as a percent of sales			33.5	%			22.8	%			1.3	%			12.5	%			-0.7	%			1.2	%			8.3	%
Realignment charges (a)			25,971				(6,018	)			(16,177	)			15,812				—				(6,260	)			22,072				-39.6	%			0.17
Acquisition and divestiture related (b)			—				(5,275	)			—				5,275				—				1,241				4,034				23.5	%			0.03
Amortization of intangible assets (c)			13,898				(6,765	)			—				20,663				—				2,874				17,789				13.9	%			0.14
Discrete items (d)			—				(7,830	)			—				7,830				1,000				190				8,640				2.2	%			0.07
Discrete tax items (e)			—				—				—				—				—				23,072				(23,072	)			0.0	%			(0.18	)
Below-the-line foreign exchange impacts (f)			—				—				—				—				5,132				442				4,690				8.6	%			0.04
Adjusted		$	454,249			$	256,049			$	—			$	204,186			$	(2,052	)		$	36,649			$	137,191				20.6	%			1.07
Adjusted as a percent of sales			36.7	%			20.7	%			0.0	%			16.5	%			-0.2	%			3.0	%			11.1	%

Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs and includes the gain on divestiture of our PMV Automation business (PMV) within FCD.

(b) Charges represent costs associated with strategic acquisition and divestiture activities including the acquisitions of Trillium Valves and Flowserve Al Mansoori Services Company (FAMCO), and the divestiture of PMV.

(c) Charges represent non-cash amortization of intangible assets and step-up in value of acquired inventories.

(d) Charge represents the $7,972 strategic acquisition of intellectual property within FPD, an immaterial adjustment to transaction costs related to the divestiture of our asbestos-related assets and liabilities that were adjusted out in a prior period and $1,000 for non-cash pension settlement accounting losses incurred in conjunction with the U.S. pension plan.

(e) Discrete tax adjustment includes the impact from the release of a valuation allowance in Italy.

(f) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency and includes the foreign exchange loss on the Blue Chip Swap Securities transaction.

Three Months Ended September 30, 2025		Gross Profit				Selling, General & Administrative Expense				Operating Income				Other Income (Expense), Net				Provision For (Benefit From) Income Taxes				Net Earnings (Loss)				Effective Tax Rate				Diluted EPS
Reported		$	380,286			$	305,152			$	79,272			$	256,220			$	93,688			$	219,582				29.5	%			1.67
Reported as a percent of sales			32.4	%			26.0	%			6.7	%			21.8	%			8.0	%			18.7	%
Realignment charges (a)			25,481				(4,571	)			30,052				—				6,907				23,145				23.0	%			0.18
Acquisition related (b)			9				(4,243	)			4,252				—				1,000				3,252				23.5	%			0.02
Purchase accounting step-up and intangible asset amortization (c)			2,625				(1,300	)			3,925				—				1,182				2,743				30.1	%			0.02
Discrete items (d)(e)(f)			31				(30,351	)			30,382				1,500				7,499				24,383				23.5	%			0.19
Merger transaction costs (g)			—				(25,682	)			25,682				—				5,885				19,797				22.9	%			0.15
Merger termination payment (h)			—				—				—				(266,000	)			(60,957	)			(205,043	)			22.9	%			(1.56	)
Discrete tax items (i)			—				—				—				—				(24,860	)			24,860				0.0	%			0.19
Below-the-line foreign exchange impacts (j)			—				—				—				5,401				622				4,779				11.5	%			0.04
Adjusted		$	408,432			$	239,005			$	173,565			$	(2,879	)		$	30,966			$	117,498				20.3	%			0.90
Adjusted as a percent of sales			34.8	%			20.4	%			14.8	%			-0.2	%			2.6	%			10.0	%

Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs of which $2,300 is non-cash.

(b) Charge represents acquisition and integration related costs associated with the MOGAS acquisition.

(c) Charge represents amortization of step-up in value of acquired inventories and acquisition related intangible assets associated with the MOGAS acquisition.

(d) Charge represents non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our U.S. Qualified pension plan.

(e) Charge of $1,500 represents a non-cash pension settlement accounting loss incurred in conjunction with the freeze of our U.S. Qualified pension plan.

(f) Charge of $30,100 represents the Q3 2025 non-cash adjustment to our estimated liability for incurred by not reported asbestos claims based on an annual actuarial study.

(g) Charge represents transaction costs incurred associated with the terminated Chart Industries merger.

(h) Amount represents the Chart Industries merger termination fee paid to Flowserve.

(i) Amount represents a one-time tax charge related to enactment of the One Big Beautiful Bill Act during Q3 2025.

(j) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency.

5

SEGMENT INFORMATION

(Unaudited)

		Three Months Ended September 30,
FLOWSERVE PUMPS DIVISION		2026				2025
(Amounts in millions, except percentages)
Bookings		$	940.1			$	819.5
Sales			830.4				800.3
Gross profit			314.3				265.8
Gross profit margin			37.8	%			33.2	%
SG&A			152.2				135.0
Segment operating income			168.0				134.9
Segment operating income as a percentage of sales			20.2	%			16.9	%
		Three Months Ended September 30,
FLOW CONTROL DIVISION		2026				2025
(Amounts in millions, except percentages)
Bookings		$	446.2			$	396.1
Sales			411.6				377.4
Gross profit			98.9				114.2
Gross profit margin			24.0	%			30.3	%
SG&A			80.9				67.8
Gain on sale of business			16.2				—
Segment operating income			34.2				46.4
Segment operating income as a percentage of sales			8.3	%			12.3	%

6

Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands)

Flowserve Pumps Division

Three Months Ended September 30, 2026		Gross Profit				Selling, General & Administrative Expense				Operating Income
Reported		$	314,255			$	152,218			$	168,023
Reported as a percent of sales			37.8	%			18.3	%			20.2	%
Realignment charges (a)			(869	)			(534	)			(335	)
Discrete items (b)			—				(7,967	)			7,967
Amortization of intangible assets (d)			2,916				(2,276	)			5,192
Adjusted		$	316,302			$	141,441			$	180,847
Adjusted as a percent of sales			38.1	%			17.0	%			21.8	%

Three Months Ended September 30, 2025		Gross Profit				Selling, General & Administrative Expense				Operating Income
Reported		$	265,776			$	135,046			$	134,869
Reported as a percent of sales			33.2	%			16.9	%			16.9	%
Realignment charges (a)			21,628				(88	)			21,716
Discrete items (b)			24				(63	)			87
Adjusted		$	287,428			$	134,895			$	156,672
Adjusted as a percent of sales			35.9	%			16.9	%			19.6	%

Flow Control Division

Three Months Ended September 30, 2026		Gross Profit				Selling, General & Administrative Expense				Gain on Sale of Business				Operating Income
Reported		$	98,906			$	80,889			$	16,177			$	34,194
Reported as a percent of sales			24.0	%			19.7	%			3.9	%			8.3	%
Realignment charges (a)			26,840				(3,762	)			(16,177	)			14,425
Acquisition and divestiture related (c)			—				(2,956	)			—				2,956
Amortization of intangible assets (d)			10,982				(4,489	)			—				15,471
Adjusted		$	136,728			$	69,682			$	—			$	67,046
Adjusted as a percent of sales			33.2	%			16.9	%			0.0	%			16.3	%

Three Months Ended September 30, 2025		Gross Profit				Selling, General & Administrative Expense				Operating Income
Reported		$	114,250			$	67,810			$	46,440
Reported as a percent of sales			30.3	%			18.0	%			12.3	%
Realignment charges (a)			4,386				(2,395	)			6,781
Acquisition related (c)			9				(4,243	)			4,252
Purchase accounting step-up and intangible asset amortization (d)			2,625				(1,300	)			3,925
Discrete items (b)			5				(45	)			50
Adjusted		$	121,275			$	59,827			$	61,448
Adjusted as a percent of sales			32.1	%			15.9	%			16.3	%

Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs and includes the gain on divestiture of our PMV Automation business (PMV) within FCD.

(b) Charge represents the $7,967 strategic acquisition of intellectual property within FPD.

(c) Charges represent costs associated with strategic acquisition and divestiture activities including the acquisitions of Trillium Valves and the divestiture of PMV with FCD.

(d) Charges represent non-cash amortization of intangible assets and step-up in value of acquired inventories.

Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs of which $2,300 is non-cash.

(b) Charge represents non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our U.S. Qualified pension plan.

(c) Charge represents acquisition and integration-related costs associated with the MOGAS acquisition.

(d) Charge represents amortization of acquisition related intangible assets associated with the MOGAS acquisition.

7

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(Amounts in thousands, except per share data)

		Nine Months Ended September 30,
		2026				2025
Sales		$	3,475,217			$	3,507,069
Cost of sales			(2,296,270	)			(2,350,867	)
Gross profit			1,178,947				1,156,202
Selling, general and administrative expense			(811,655	)			(814,237	)
Gain on sale of business			16,177				—
Net earnings from affiliates			41,992				15,786
Operating income			425,461				357,751
Interest expense			(72,768	)			(58,166	)
Interest income			8,885				5,063
Other (expense) income, net			(13,272	)			213,958
Earnings before income taxes			348,306				518,606
Provision for income taxes			(53,299	)			(127,067	)
Net earnings, including noncontrolling interests			295,007				391,539
Less: Net earnings attributable to noncontrolling interests			(11,290	)			(16,298	)
Net earnings attributable to Flowserve Corporation		$	283,717			$	375,241
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic		$	2.23			$	2.87
Diluted			2.21				2.85
Weighted average shares - basic			127,434				130,910
Weighted average shares - diluted			128,314				131,836

8

Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands, except per share data)

Nine Months Ended September 30, 2026		Gross Profit				Selling, General & Administrative Expense				Gain on Sale of Business				Net earnings from affiliates				Operating Income				Other Income (Expense), Net				Provision For (Benefit From) Income Taxes				Net Earnings (Loss)				Effective Tax Rate				Diluted EPS
Reported		$	1,178,947			$	811,655			$	16,177			$	41,992			$	425,461			$	(13,272	)		$	53,299			$	283,717				15.3	%			2.21
Reported as a percent of sales			33.9	%			23.4	%			0.5	%			1.2	%			12.2	%			-0.4	%			1.5	%			8.2	%
Realignment charges (a)			75,452				(26,234	)			(16,177	)			—				85,509				—				6,773				78,736				7.9	%			0.61
Acquisition and divestiture related (b)(c)			—				(23,179	)			—				(27,700	)			(4,521	)			—				5,554				(10,075	)			-122.8	%			(0.08	)
Amortization of intangible assets (d)			16,454				(12,113	)			—				—				28,567				—				4,394				24,173				15.4	%			0.19
Discrete items (e)(f)			62				(8,719	)			—				—				8,781				5,576				1,491				12,866				10.4	%			0.10
Discrete tax items (g)			—				—				—				—				—				—				23,072				(23,072	)			0.0	%			(0.18	)
Below-the-line foreign exchange impacts (h)			—				—				—				—				—				2,409				255				2,154				10.6	%			0.02
Adjusted		$	1,270,915			$	741,410			$	—			$	14,292			$	543,797			$	(5,287	)		$	94,838			$	368,499				20.0	%			2.87
Adjusted as a percent of sales			36.6	%			21.3	%			0.0	%			0.4	%			15.6	%			-0.2	%			2.7	%			10.6	%

Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs, net of a $5,300 gain associated with a sale-leaseback transaction related to a FCD facility, and of which $5,234 is non-cash. Also includes the gain on divestiture of our PMV Automation business (PMV) within FCD.

(b) Charges represent costs associated with strategic acquisition and divestiture activities including the acquisitions of Greenray, Trillium Valves and Flowserve Al Mansoori Services Company (FAMCO), and the divestiture of PMV.

(c) Adjustment represents a $27,700 gain recognized in Net earnings from affiliates on the remeasurement of our previously held equity interest in FAMCO.

(d) Charges represent non-cash amortization of intangible assets and step-up in value of acquired inventories.

(e) Charges represent discrete items including $523 of non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our U.S. Qualified pension plan, $286 of transaction costs related to the divestiture of our asbestos-related assets and liabilities and the $7,972 strategic acquisition of intellectual property within FPD.

(f) Charges include $5,576 for non-cash pension settlement accounting losses incurred in conjunction with pension plans in the United States and Canada.

(g) Discrete tax adjustment includes the impact from the release of a valuation allowance in Italy.

(h) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency and includes the foreign exchange loss on the Blue Chip Swap Securities transaction.

Nine Months Ended September 30, 2025		Gross Profit				Selling, General & Administrative Expense				Operating Income				Other Income (Expense), Net				Provision For (Benefit From) Income Taxes				Net Earnings (Loss)				Effective Tax Rate				Diluted EPS
Reported		$	1,156,202			$	814,237			$	357,751			$	213,958			$	127,067			$	375,241				24.5	%			2.85
Reported as a percent of sales			33.0	%			23.2	%			10.2	%			6.1	%			3.6	%			10.7	%
Realignment charges (a)			40,600				(1,481	)			42,081				—				10,096				31,985				24.0	%			0.24
Acquisition related (b)			761				(8,714	)			9,475				—				2,228				7,247				23.5	%			0.05
Purchase accounting step-up and intangible asset amortization (c)			8,742				(3,900	)			12,642				—				3,729				8,913				29.5	%			0.07
Discrete items (d)(e)(f)			106				(31,116	)			31,222				4,500				8,403				27,319				23.5	%			0.21
Merger transaction costs (g)			—				(41,197	)			41,197				—				9,534				31,663				23.1	%			0.24
Merger termination payment (h)			—				—				—				(266,000	)			(60,957	)			(205,043	)			22.9	%			(1.56	)
Discrete tax items (i)			—				—				—				—				(24,860	)			24,860				0.0	%			0.19
Below-the-line foreign exchange impacts (j)			—				—				—				36,797				5,977				30,820				16.2	%			0.23
Adjusted		$	1,206,411			$	727,829			$	494,368			$	(10,745	)		$	81,217			$	333,005				18.9	%			2.53
Adjusted as a percent of sales			34.4	%			20.8	%			14.1	%			-0.3	%			2.3	%			9.5	%

Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs of which $5,300 is non-cash.

(b) Charge represents acquisition and integration related costs associated with the MOGAS acquisition.

(c) Charge represents amortization of step-up in value of acquired inventories and acquisition related intangible assets associated with the MOGAS acquisition.

(d) Charge represents non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our U.S. Qualified pension plan.

(e) Charge of $4,500 represents a non-cash pension settlement accounting loss incurred in conjunction with the freeze of our U.S. Qualified pension plan.

(f) Charge of $30,100 represents the Q3 2025 non-cash adjustment to our estimated liability for incurred by not reported asbestos claims based on an annual actuarial study.

(g) Charge represents transaction costs incurred associated with the terminated Chart Industries merger.

(h) Amount represents the Chart Industries merger termination fee paid to Flowserve.

(i) Amount represents a one-time tax charge related to enactment of the One Big Beautiful Bill Act during Q3 2025.

(j) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency.

9

SEGMENT INFORMATION

(Unaudited)

FLOWSERVE PUMPS DIVISION		Nine Months Ended September 30,
(Amounts in millions, except percentages)		2026				2025
Bookings		$	2,646.3			$	2,394.8
Sales			2,389.0				2,402.4
Gross profit			880.3				833.5
Gross profit margin			36.8	%			34.7	%
SG&A			447.4				415.1
Segment operating income			474.9				434.1
Segment operating income as a percentage of sales			19.9	%			18.1	%
FLOW CONTROL DIVISION		Nine Months Ended September 30,
(Amounts in millions, except percentages)		2026				2025
Bookings		$	1,236.0			$	1,126.1
Sales			1,096.5				1,112.9
Gross profit			296.4				322.1
Gross profit margin			27.0	%			28.9	%
SG&A			225.7				206.4
Gain on sale of business			16.2				—
Segment operating income			86.9				115.7
Segment operating income as a percentage of sales			7.9	%			10.4	%

10

Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands)

Flowserve Pumps Division

Nine Months Ended September 30, 2026		Gross Profit				Selling, General & Administrative Expense				Net earnings from affiliates				Operating Income
Reported		$	880,323			$	447,390			$	41,992			$	474,925
Reported as a percent of sales			36.8	%			18.7	%			1.8	%			19.9	%
Realignment charges (a)			19,740				(10,067	)			—				29,807
Discrete items (b)(c)			48				(8,063	)			—				8,111
Acquisition and divestiture related (d)(e)			—				(813	)			(27,700	)			(26,887	)
Amortization of intangible assets (f)			5,372				(5,022	)			—				10,394
Adjusted		$	905,483			$	423,425			$	14,292			$	496,350
Adjusted as a percent of sales			37.9	%			17.7	%			0.6	%			20.8	%

Nine Months Ended September 30, 2025		Gross Profit				Selling, General & Administrative Expense				Operating Income
Reported		$	833,467			$	415,126			$	434,128
Reported as a percent of sales			34.7	%			17.3	%			18.1	%
Realignment charges (a)			26,495				(840	)			27,335
Discrete items (b)			87				(287	)			374
Adjusted		$	860,049			$	413,999			$	461,837
Adjusted as a percent of sales			35.8	%			17.2	%			19.2	%

Flow Control Division

Nine Months Ended September 30, 2026		Gross Profit				Selling, General & Administrative Expense				Gain on Sale of Business				Operating Income
Reported		$	296,399			$	225,648			$	16,177			$	86,928
Reported as a percent of sales			27.0	%			20.6	%			1.5	%			7.9	%
Realignment charges (a)			55,712				(476	)			(16,177	)			40,011
Discrete items (b)			10				(75	)			—				85
Acquisition and divestiture related (d)			—				(19,121	)			—				19,121
Amortization of intangible assets (f)			11,082				(7,091	)			—				18,173
Adjusted		$	363,203			$	198,885			$	—			$	164,318
Adjusted as a percent of sales			33.1	%			18.1	%			0.0	%			15.0	%

Nine Months Ended September 30, 2025		Gross Profit				Selling, General & Administrative Expense				Operating Income
Reported		$	322,131			$	206,437			$	115,694
Reported as a percent of sales			28.9	%			18.5	%			10.4	%
Realignment charges (a)			14,704				1,230				13,474
Acquisition related (c)			761				(8,714	)			9,475
Purchase accounting step-up and intangible asset amortization (d)			8,742				(3,900	)			12,642
Discrete items (b)			14				(208	)			222
Adjusted		$	346,352			$	194,845			$	151,507
Adjusted as a percent of sales			31.1	%			17.5	%			13.6	%

Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs, net of a $5,300 gain associated with a sale-leaseback transaction related to a FCD facility, and of which $5,234 is non-cash. Also includes the gain on divestiture of our PMV Automation business (PMV) within FCD.

(b) Charges represent $229 of non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our U.S. Qualified pension plan.

(c) Charge represents the $7,967 strategic acquisition of intellectual property within FPD.

(d) Charges represent costs associated with strategic acquisition and divestiture activities including the acquisitions of Greenray, Trillium Valves and Flowserve Al Mansoori Services Company (FAMCO), and the divestiture of PMV.

(e) Adjustment represents a $27,700 gain recognized in Net earnings from affiliates on the remeasurement of our previously held equity interest in FAMCO.

(f) Charges represent non-cash amortization of intangible assets and step-up in value of acquired inventories.

Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs of which $5,300 is non-cash.

(b) Charge represents non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our U.S. Qualified pension plan.

(c) Charge represents acquisition and integration-related costs associated with the MOGAS acquisition.

(d) Charge represents amortization of step-up in value of acquired inventories and acquisition related intangible assets associated with the MOGAS acquisition.

11

Segment Results

(Unaudited)

Flowserve Pumps Division

(dollars in millions)		Q3 2026				Q3 2025				Change				YTD 2026				YTD 2025				Change
Organic Bookings											10.9	%											6.8	%
Acquisitions / Divestitures Impact											3.9	%											1.8	%
FX Impact (a)											(0.1	%)											1.9	%
Total Bookings (b)		$	940			$	819				14.7	%		$	2,646			$	2,395				10.5	%
Organic Sales											(0.9	%)											(3.6	%)
Acquisitions / Divestitures Impact											4.7	%											1.2	%
FX Impact (a)											0.0	%											1.8	%
Reported Sales (b)		$	830			$	800				3.8	%		$	2,389			$	2,402				(0.6	%)
Gross Margin			37.8	%			33.2	%			460 bps				36.8	%			34.7	%			210 bps
Adjusted Gross Margin (c)			38.1	%			35.9	%			220 bps				37.9	%			35.8	%			210 bps
Operating Margin			20.2	%			16.9	%			330 bps				19.9	%			18.1	%			180 bps
Adjusted Operating Margin (d)			21.8	%			19.6	%			220 bps				20.8	%			19.2	%			160 bps
Backlog (b)		$	2,377			$	2,007				18.5	%		$	2,377			$	2,007				18.5	%
Flows Control Division
(dollars in millions)		Q3 2026				Q3 2025				Change				YTD 2026				YTD 2025				Change
Organic Bookings											0.8	%											4.8	%
Acquisitions / Divestitures Impact											12.2	%											4.3	%
FX Impact (a)											(0.4	%)											0.7	%
Total Bookings (b)		$	446			$	396				12.6	%		$	1,236			$	1,126				9.8	%
Organic Sales											(1.3	%)											(5.8	%)
Acquisitions / Divestitures Impact											10.8	%											3.7	%
FX Impact (a)											(0.4	%)											0.6	%
Reported Sales (b)		$	412			$	377				9.1	%		$	1,096			$	1,113				(1.5	%)
Gross Margin			24.0	%			30.3	%			(630 bps	)			27.0	%			28.9	%			(190 bps	)
Adjusted Gross Margin (c)			33.2	%			32.1	%			110 bps				33.1	%			31.1	%			200 bps
Operating Margin			8.3	%			12.3	%			(400 bps	)			7.9	%			10.4	%			(250 bps	)
Adjusted Operating Margin (d)			16.3	%			16.3	%			—				15.0	%			13.6	%			140 bps
Backlog (b)		$	1,105			$	896				23.2	%		$	1,105			$	896				23.2	%

(a) Constant foreign exchange (FX) represents the year-over-year variance assuming Q3 and YTD 2026 results at Q3 and YTD 2025 FX rates

(b) Bookings, sales, and backlog do not include interdivision eliminations

(c) Adjusted gross margin is a non-GAAP financial measure. Adjusted gross margin is calculated by dividing adjusted gross profit by sales. Adjusted gross profit is derived by excluding realignment charges and other specific discrete items. See the Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (unaudited)

(d) Adjusted operating margin excludes realignment charges and other specific discrete items

12

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Amounts in thousands, except par value)		September 30, 2026				December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents		$	742,148			$	760,183
Accounts receivable, net of allowance for expected credit losses of $92,193 and $83,094, respectively			1,084,291				1,029,095
Contract assets, net of allowance for expected credit losses of $6,124 and $6,028, respectively			330,293				322,472
Inventories			844,122				789,898
Prepaid expenses and other			127,820				141,237
Total current assets			3,128,674				3,042,885
Property, plant, and equipment, net of accumulated depreciation of $1,242,388 and $1,224,912, respectively			574,771				566,751
Operating lease right-of-use asset, net			189,000				166,031
Goodwill			1,697,977				1,391,988
Deferred taxes			181,605				156,250
Other intangible assets, net			369,747				198,475
Other assets, net of allowance for expected credit losses of $66,210 and $66,047, respectively			205,227				185,820
Total assets		$	6,347,001			$	5,708,200
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable		$	556,532			$	554,243
Accrued liabilities			556,768				587,475
Contract liabilities			329,380				274,669
Debt due within one year			9,895				49,868
Operating lease liabilities			38,093				35,630
Total current liabilities			1,490,668				1,501,885
Long-term debt due after one year			2,046,807				1,525,210
Operating lease liabilities			163,348				149,565
Retirement obligations and other liabilities			262,767				277,216
Contingencies (See Note 12)
Shareholders’ equity:
Preferred shares, $1.00 par value			—				—
Shares authorized — 1,000, no shares issued
Common shares, $1.25 par value			220,991				220,991
Shares authorized — 305,000
Shares issued — 176,793 and 176,793, respectively
Capital in excess of par value			504,791				508,890
Retained earnings			4,460,774				4,261,977
Treasury shares, at cost — 50,173 and 49,763 shares, respectively			(2,290,306	)			(2,231,685	)
Deferred compensation obligation			5,922				6,629
Accumulated other comprehensive loss			(590,627	)			(575,405	)
Total Flowserve Corporation shareholders’ equity			2,311,545				2,191,397
Noncontrolling interests			71,866				62,927
Total equity			2,383,411				2,254,324
Total liabilities and equity		$	6,347,001			$	5,708,200

13

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(Amounts in thousands)

		Nine Months Ended September 30,
		2026				2025
Cash flows — Operating activities:
Net earnings, including noncontrolling interests			295,007				391,539
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation			61,537				58,685
Amortization of intangible and other assets			24,750				14,009
(Gain) on remeasurement of previously held equity interest			(27,700	)			—
(Gain) on sale of business			(16,177	)			—
Stock-based compensation			30,469				25,787
Loss on Blue Chip Swap Securities			3,146				—
Foreign currency, asset write downs and other non-cash adjustments			(5,446	)			(3,326	)
Change in assets and liabilities:
Accounts receivable, net			(28,684	)			(26,081	)
Inventories			(7,421	)			26,727
Contract assets, net			(8,198	)			(35,157	)
Prepaid expenses and other assets, net			15,698				(7,362	)
Accounts payable			(34,192	)			31,158
Contract liabilities			18,750				(17,857	)
Accrued liabilities			(60,582	)			(30,488	)
Retirement obligations and other liabilities			(5,779	)			31,900
Net deferred taxes			(24,897	)			46,524
Net cash flows provided by operating activities			230,281				506,058
Cash flows — Investing activities:
Capital expenditures			(51,056	)			(45,534	)
Payments for acquisitions, net of cash acquired			(517,735	)			—
Proceeds from disposal of assets			9,783				1,067
Purchases of Blue Chip Swap Securities			(52,939	)			—
Proceeds from Sales of Blue Chip Swap Securities			49,793				—
Proceeds from divestiture of business, net of cash divested			34,567				—
Affiliate investment activity			(3,960	)			—
Net cash flows (used) by investing activities			(531,547	)			(44,467	)
Cash flows — Financing activities:
Proceeds from issuance of senior notes, net of discount			499,320				—
Payments on term loan			(77,875	)			(28,125	)
Proceeds from long-term debt			74,750				—
Payment of deferred loan costs			(4,893	)			—
Proceeds under revolving credit facility			150,000				50,000
Payments under revolving credit facility			(160,000	)			(50,000	)
Proceeds under other financing arrangements			1,071				10,562
Payments under other financing arrangements			(8,058	)			(3,310	)
Payments related to tax withholding for stock-based compensation			(23,339	)			(11,584	)
Repurchases of common shares			(75,000	)			(197,920	)
Payments of dividends			(82,881	)			(82,671	)
Contingent consideration payment related to acquired business			—				(15,000	)
Other			(2,123	)			(2,899	)
Net cash flows (used) provided by financing activities			290,972				(330,947	)
Effect of exchange rate changes on cash and cash equivalents			(7,741	)			27,762
Net change in cash and cash equivalents			(18,035	)			158,406
Cash and cash equivalents at beginning of period			760,183				675,441
Cash and cash equivalents at end of period		$	742,148			$	833,847
Non-Cash Investing and Financing Activities:
Liabilities incurred related to acquired business, but not paid		$	1,505				—

14

About Flowserve:

Flowserve Corporation is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 50 countries, the Company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the Company’s website at www.flowserve.com.

Flowserve Contacts

Investor Contact: investorrelations@flowserve.com

Olivia Webb, Director, Investor Relations

Media Contact: media@flowserve.com

Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, “may,” “should,” “expects,” “could,” “intends,” “plans,” “anticipates,” “estimates,” “believes,” “forecasts,” “predicts” or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: economic, political and other risks associated with our international operations, including military actions, trade embargoes, blockades or other closures of major trade lanes, epidemics or pandemics and changes to tariffs or trade agreements that could affect customer markets, particularly North African, Latin American, Asian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; global supply chain disruptions and the current inflationary environment could adversely affect the efficiency of our manufacturing and increase the cost of providing our products to customers; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from any restructuring and realignment initiatives, our business could be adversely affected; the substantial dependence of our sales on the success of the energy, chemical, power generation and general industries; the adverse impact of volatile raw materials prices on our products and operating margins; the impact of public health emergencies, such as outbreaks of epidemics, pandemics, and contagious diseases, on our business and operations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; potential adverse effects resulting from the implementation of new tariffs and related retaliatory actions and changes to or uncertainties related to tariffs and trade agreements; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Argentina; potential adverse consequences resulting from litigation to which we are a party; expectations regarding acquisitions and the integration of acquired businesses; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; if we are not able to maintain our competitive position by successfully developing and introducing new products and integrating new technologies, including artificial intelligence and machine learning; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the United States, as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating, planning and compensation decisions and in evaluating the Company’s performance. Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed in addition to, and not as a substitute for, the Company’s reported results prepared in accordance with GAAP.

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Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 446.4 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 17.6 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.0 KB