Flowserve Corporation is issuing $500 million of 5.700% Senior Notes due 2036 under an underwriting agreement with BofA Securities, J.P. Morgan and Mizuho. The notes are issued under an existing indenture and a new supplemental indenture.
Flowserve plans to use the net proceeds to help fund the purchase price for the Trillium Flow Technologies Valves Division acquisition and any remaining funds for general corporate purposes, which may include repaying debt. If the Trillium acquisition is not completed by the contractual Longstop Date of February 4, 2027 or the purchase agreement is terminated, the company intends to redeem all of the notes at 101% of principal plus accrued interest, using the note proceeds together with its revolving credit facility or cash on hand.
Flowserve Corporation files a preliminary prospectus supplement to offer senior unsecured notes to help fund its announced Trillium Flow Acquisition. The company agreed to acquire Trillium Flow for $490 million in an all‑cash transaction and expects the acquisition to close mid‑year 2026, subject to regulatory approvals and customary conditions.
The prospectus states net proceeds are intended to fund the Trillium Flow purchase price and any remaining proceeds for general corporate purposes, which may include repayment of outstanding indebtedness. If the Trillium Flow Acquisition is not consummated on or prior to February 4, 2027 (the “Longstop Date”) or the purchase agreement is terminated, Flowserve must redeem the notes at a price equal to 101% of principal plus accrued interest (a “Special Mandatory Redemption Event”). The company amended its senior credit facility to add a $1,000,000,000 unsecured revolving facility and up to a $450,000,000 unsecured term loan, maturing April 15, 2031.
FLOWSERVE CORP Chief Legal Officer Susan Claire Hudson acquired 33 shares of Common Stock through a grant classified as a “grant, award, or other acquisition.” The shares were acquired at $73.64 per share.
The footnotes state these shares were obtained under the non-qualified Flowserve Corporation 2024 Employee Stock Purchase Plan in a prescheduled transaction. Following this award, Hudson directly holds 24,745 Flowserve shares, indicating this is a routine compensation-related acquisition rather than an open-market purchase or sale.
Flowserve Corporation President & CEO Robert Scott Rowe acquired 60 shares of common stock in a prescheduled transaction under the non-qualified Flowserve Corporation 2024 Employee Stock Purchase Plan. The shares were acquired at $73.64 per share, bringing his direct holdings to 507,717 shares following the transaction.
Flowserve Corp ownership disclosure: Vanguard Capital Management reports beneficial ownership of 6,657,348 shares of common stock, representing 5.23% of the class as of 03/31/2026. The filer reports sole dispositive power over 6,657,348 shares and sole voting power for 953,421 shares.
The filing states these holdings include securities held for Vanguard funds and client accounts managed by affiliated Vanguard entities. The report is signed by the filer’s Head of Global Fund Administration on 04/29/2026.
Flowserve Corporation reported mixed first quarter 2026 results, with sales of $1,068.3 million, down 6.7% from Q1 2025, but earnings improving. Basic and diluted EPS rose to $0.64 from $0.56, and adjusted EPS increased to $0.85 from $0.72, reflecting higher margins and cost actions.
Reported operating margin was 11.2% versus 11.5% a year ago, while adjusted operating margin strengthened to 15.1% from 12.8%. Backlog edged up to $2,945.9 million. The company now expects 2026 total sales growth of 3% to 6%, down from 5% to 7%, but reaffirmed adjusted EPS guidance of $4.00 to $4.20.
Flowserve Corporation reported first-quarter 2026 net sales of $1,068.3 million, down from $1,144.5 million a year earlier, while net earnings attributable to the company rose to $81.7 million from $73.9 million. Diluted earnings per share increased to $0.64 from $0.56, helped by stronger margins and non-operating items.
Operating income declined to $119.4 million from $131.9 million, but gross profit improved to $379.8 million as cost of sales fell. The company recognized a $35.4 million receivable for refunds of tariffs under the International Emergency Economic Powers Act, reversing $30.4 million in cost of sales and $5.0 million in inventory.
Flowserve ended the quarter with $792.4 million of cash and cash equivalents and total debt of $1,715.0 million. It signed agreements to acquire Trillium Flow Technologies’ Valves Division for $490 million and the remaining 51% of FAMCO for $34.5 million, and continued its 2025 realignment programs, recording $29.0 million of related charges in the quarter.
Klopfer Matthew Carl reported acquisition or exercise transactions in this Form 4 filing.
Flowserve Corp reported that executive Matthew Carl Klopfer, President, FPD, received equity-based compensation awards rather than buying shares on the open market. He was granted 5,085 performance rights and 5,085 restricted stock units, each tied to one share of common stock.
The performance rights cover a three-year period from January 1, 2026 to December 31, 2028 and can vest between 0% and 200% based on return on invested capital versus targets and average annual earnings-per-share growth. A further 15% payout modifier depends on relative total shareholder return versus the S&P 500 Industrial Index, and they may be settled in cash or stock. The restricted stock units vest in three equal annual installments on each anniversary of the grant date.
Flowserve Corp executive Matthew Carl Klopfer, President of FPD, filed an initial Form 3 showing his equity holdings in the company. He directly owns 6,845 shares of common stock plus multiple grants of restricted stock units and performance rights tied to future performance and service-based vesting.
The performance rights cover blocks of 1,395, 931, and 878 underlying shares of common stock, with payout ranging from 0% to 200% based on return on invested capital, free cash flow and relative total shareholder return over multi-year periods from 2024–2028. The restricted stock units cover blocks including 9,028, 2,049, 1,449, 1,135 and 1,084 underlying shares, generally vesting ratably over three years or on the third anniversary of the grant date.
Flowserve Corporation entered into a Third Amended and Restated Credit Agreement with Bank of America and other lenders, establishing a $1,000.0 million unsecured revolving credit facility and an unsecured term loan facility of up to $450.0 million, both maturing on April 15, 2031.
On the closing date, the company drew approximately $450.0 million under the term loan and $250.0 million under the revolver to refinance existing debt and for general corporate purposes. Pricing is based on Term SOFR plus 1.000%–1.750% or, at Flowserve’s option, a Base Rate plus 0.000%–0.750%, with initial margins of Term SOFR plus 1.375% and Base Rate plus 0.375%.
The facility includes a $750.0 million sublimit for letters of credit, a $30.0 million swing line sublimit, an option to increase the revolver by up to $400.0 million, and customary financial covenants such as consolidated net leverage and interest coverage ratios.