Slide 1: Q1 2025 Earnings Conference Call
Q1 2025 EARNINGS CONFERENCE CALL April 30, 2025
Slide 2: Forward Looking Statement and Non-GAAP Measures
FORWARD LOOKING STATEMENT AND NON-GAAP MEASURES Safe Harbor Statement: This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions o
Slide 3: Q1 2025 Highlights
Q1 2025 HIGHLIGHTS TOTAL BOOKINGS 3D BOOKINGS SALES $1.2B 31% $1.1B Double-digit original Healthy bookings from our Solid revenue growth of 5% equipment and aftermarket 3D Strategy compared to last year bookings growth ADJUSTED GROSS ADJUSTED EPS* CASH RETURNED TO MARGINS* SHAREHOLDERS 33.5% $0.72 $
Slide 4: Bookings Overview
Q1 2025 BOOKINGS OVERVIEW ORIGINAL EQUIPMENT $ millions • Total bookings growth of 18% versus the $557 16% prior year period, with book-to-bill of 1.07x 47% $538 $462 45% 44% • Power bookings were up more than 45% 2024 Q1 2024 Q4 2025 Q1 AFTERMARKET • Record aftermarket bookings of nearly $ millions
Slide 5: Tariff Situation
TARIFF SITUATION ASSUMPTIONS FLOWSERVE CONTEXT • U.S. import tariffs in place remainder of year • Two-thirds of revenue is outside the U.S. - China at 145% MITIGATING ACTIONS • Diversified global manufacturing footprint - Canada and Mexico at 25% with roughly one-third of facilities in North America
Slide 6: Market Outlook
MARKET OUTLOOK* ENERGY: 35% • Ongoing investment in LNG and decarbonization activities • Despite increased economic uncertainty, our • Refining utilization has remained elevated end markets and April bookings to date remain healthy GENERAL INDUSTRIES: 33% • Water scarcity driving further desalinatio
Slide 7: Flowserve Business System
FLOWSERVE BUSINESS SYSTEM • Flowserve Business System is a critical tool and approach to navigating today’s market volatility • Strong first quarter results from Portfolio Excellence (80/20 program) - Modestly ahead of our expectations - Early win: ~80% SKU reduction at one of our FPD sites • All pr
Slide 8: Q1 2025 Overview
Q1 2025 OVERVIEW SALES ADJ. GROSS MARGIN* ADJ. OPERATING MARGIN* ADJ. EPS* $ millions 5% 180 bps 190 bps 24% $1,180 $1,145 12.8% $1,087 33.5% $0.72 12.6% $0.70 32.8% $0.58 31.7% 10.9% 2024 Q1 2024 Q4 2025 Q1 2024 Q1 2024 Q4 2025 Q1 2024 Q1 2024 Q4 2025 Q1 2024 Q1 2024 Q4 2025 Q1 Solid sales growth a
Slide 9: FPD Segment
Q1 2025 FPD SEGMENT FPD Results Q1 2025 Year-Over-Year • Double-digit growth in both original equipment and aftermarket bookings Bookings $852.9 21.2% Revenue $783.1 1.8% • Modest growth in sales but ahead of our expectations on improved backlog conversion and book-and-ship activity Adjusted Gross M
Slide 10: FCD Segment
Q1 2025 FCD SEGMENT FCD Results • Strong bookings growth driven by Q1 2025 Year-Over-Year general industries, energy and power end markets Bookings $376.0 10.2% Revenue $364.1 13.6% • Robust sales increase with Mogas contributing eleven percentage points of revenue growth in the quarter Adjusted Gro
Slide 11: Q1 2025 Cash Flow
Q1 2025 CASH FLOW OPERATING CASH FLOW $ millions • Cash from operations was a use of cash of $50 $197 million driven by higher temporary working capital requirements $62 ($50) • Significant improvements expected in the balance 2024 Q1 2024 Q4 2025 Q1 of the year, with full-year cash flow to adjusted
Slide 12: Purposeful Capital Allocation
PURPOSEFUL CAPITAL ALLOCATION Guiding Principles INVEST TO GROW ACQUISITIONS • Capital allocation based on highest long-term return • Accelerate 3D Strategy • Growth and margin expansion CAPEX • Strong financial returns • Free cash flow conversion • New product development and diversification target
Slide 13: Reaffirming 2025 Full-Year Guidance
REAFFIRMING 2025 FULL-YEAR GUIDANCE Guidance Metric 2025 Guidance • Expect second quarter to be similar or slightly better than the first quarter Organic Growth Up 3.0% - 5.0% Total Sales Growth [1] Up 5.0% - 7.0% • We believe the second half of the year will represent a higher contribution to earni
Slide 14: Q1 Summary
Q1 SUMMARY • Strong start to the year in Q1 • Execution improving under the Flowserve Business System • End markets largely healthy year-to-date • Project funnel remains at an elevated level • Responding quickly to today’s dynamic environment Full-year 2025 guidance reaffirmed, supported by strong s
Slide 15: Appendix
Appendix Q1 2025 Earnings Conference Call 15
Slide 16: Q1 2025 Consolidated Financial Results
Q1 2025 CONSOLIDATED FINANCIAL RESULTS Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited) (Amounts in thousands, except per share data) Selling, General & Provision For Administrative Operating Other Income (Benefit From) Net
Slide 17: Q1 2024 Consolidated Financial Results
Q1 2024 CONSOLIDATED FINANCIAL RESULTS Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited) (Amounts in thousands, except per share data) Selling, General & Provision For Administrative Operating Other Income (Benefit From) Net
Slide 18: Q1 2025 and Q1 2024 Segment Financial Results
Q1 2025 AND Q1 2024 SEGMENT FINANCIAL RESULTS Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited) (Amounts in thousands) Flowserve Pumps Division Selling, General & Selling, General & Administrative Operating Administrative Operati
Slide 19: Q1 2025 and Q1 2024 Segment Bookings and Sales Mix
Q1 2025 AND Q1 2024 SEGMENT BOOKINGS AND SALES MIX Flowserve Pumps Division ($ millions) Q1 2025 Q1 2024 Delta (%) Constant FX (%)1 2 $264 $210 26% 28% OE 31% 30% 100 bps Bookings Mix3 $589 $494 19% 22% AM2 69% 70% (100) bps $281 $285 -1% 1% OE 3 36% 37% (100) bps Sales Mix $502 $484 4% 6% AM 64% 63
Slide 20: Investor Relations Contacts
Investor Relations Contacts Brian Ezzell Tarek Zeni 469.420.3222 469.420.4045 bezzell@flowserve.com tzeni@flowserve.com