Slide 1: Second Quarter 2019 Earnings Conference Call
Second Quarter 2019 Earnings Conference Call August 1, 2019 Quarterly Presentation 2017 1
Slide 2: Forward Looking Statements and Non-GAAP Measures
Forward Looking Statements 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
Slide 3: Q2 2019 Overview
Q2 2019 Overview • Q2 2019 Reported and Adjusted EPS of $0.44 and $0.54 * • Bookings increased 6.5%, or 9.9% constant currency - Strong original equipment growth of 11.9% driven by oil and gas, chemical and water strength - Aftermarket bookings increased 0.8%, or 4.5% constant currency • Revenue inc
Slide 4: Q2 Bookings & Sales Mix
Q2 Bookings & Sales Mix End-Markets Bookings Sales Oil & Gas • Greenfield LNG projects continue progressing towards FID $1.11B $1.04B $990M $973M • North American pipeline build continues to provide opportunities • Global refinery expansions and upgrades driven by regulatory changes and increased fo
Slide 5: Original Equipment / Aftermarket Mix
Original Equipment / Aftermarket Mix Original Equipment Aftermarket Bookings Mix % Sales Mix % Bookings Mix % Sales Mix % $ millions $ millions $ millions $ millions $597 $493 $485 $511 $498 $556 $508 $504 $488 $470 $533 $420 54% 52% 53% 51% 50% 50% 48% 49% 50% 50% 47% 46% 2019 Q2 2019 Q1 2018 Q2 20
Slide 6: Q2 2019 Financial Scorecard
[1] Q2 2019 Financial Scorecard [1] [2] Bookings Revenue Adjusted OI% Adjusted EPS [1] Oper. Cash Flow PWC $ millions $ millions $ millions As a % of TTM Revenue $1,105 $990 30.1% $973 11.3% $0.54 $1,067 $64 $1,037 9.9% $890 9.3% $0.41 $0.41 28.5% 28.4% $39 $11 2019 Q2 2019 Q1 2018 Q2 2019 Q2 2019 Q
Slide 7: 2019 Guidance Assumptions
2019 Guidance Assumptions [1] Guidance Assumptions 2019 Prior Guidance 2019 Guidance [2] Revenue Guidance 4% - 6% 4% - 5% Reported EPS Guidance $1.60 - $1.80 $1.75 - $1.90 [3] Adjusted EPS Guidance $1.95 - $2.15 $2.05 - $2.20 EUR Rate 1.16 1.12 Adjusted Tax Rate 26% - 28% 26% - 28% Capital Expenditu
Slide 8: Questions & Answers
Questions & Answers Flowserve Q2 2019 Earnings Conference Call 8
Slide 9: Appendix
Appendix Flowserve Q2 2019 Earnings Conference Call 9
Slide 10: Q2 2019 Consolidated Financial Results
Q2 2019 Consolidated Financial Results 2nd Quarter 2nd Quarter Adjusted 2019 2019 2018 Constant Constant ($ millions) 2019 2018 Delta ($) Delta (%) FX(%)* Adjusted Adjusted Adjusted Delta ($) Delta (%) FX(%)* Items Results Results Bookings $ 1,105.0 $ 1,037.3 $ 67.7 6.5% 9.9% $ - $ 1,105.0 $ 1,037.3
Slide 11: Year-to-Date 2019 Consolidated Financial Results
Year-to-Date 2019 Consolidated Financial Results Year-to-Date Year-to-Date Adjusted 2019 2019 2018 Constant Constant ($ millions) 2019 2018 Delta ($) Delta (%) Adjusted Adjusted Adjusted Delta ($) Delta (%) FX(%)* FX(%)* Items Results Results Bookings $ 2,165.1 $ 1,965.8 $ 199.3 10.1% 14.0% $ - $ 2,
Slide 12: Flowserve Pump Division Q2 2019 Segment Results
Flowserve Pump Division Q2 2019 Segment Results 2nd Quarter Year-to-Date Constant Constant ($ millions) 2019 2018 Delta ($) Delta (%) FX(%)* 2019 2018 Delta ($) Delta (%) FX(%)* Bookings $ 761.9 $ 720.8 $ 41.1 5.7% 9.2% $ 1,512.0 $ 1,324.9 $ 187.1 14.1% 18.2% Sales $ 674.6 $ 668.4 $ 6.2 0.9% 3.9% $
Slide 13: Flowserve Pump Division Q2 2019 Bookings and Sales
Flowserve Pump Division Q2 2019 Bookings and Sales 2nd Quarter Year-to-Date Constant Constant ($ millions) 2019 2018 Delta (%) 2019 2018 Delta (%) FX(%)* FX(%)* $ 323 $ 294 10% 14% $ 640 $ 498 29% 34% OE 42% 41% 100 bps 42% 38% 400 bps Bookings Mix ** $ 439 $ 427 3% 6% $ 872 $ 827 5% 9% AM 58% 59% (
Slide 14: Flow Control Division Q2 2019 Segment Results
Flow Control Division Q2 2019 Segment Results 2nd Quarter Year-to-Date Constant Constant ($ millions) 2019 2018 Delta ($) Delta (%) FX(%)* 2019 2018 Delta ($) Delta (%) FX(%)* Bookings $ 346.4 $ 318.6 $ 27.8 8.7% 11.9% $ 659.6 $ 645.3 $ 14.3 2.2% 5.4% Sales $ 316.9 $ 306.5 $ 10.4 3.4% 6.3% $ 599.1 $
Slide 15: Flow Control Division Q2 2019 Bookings and Sales
Flow Control Division Q2 2019 Bookings and Sales 2nd Quarter Year-to-Date Constant Constant ($ millions) 2019 2018 Delta (%) 2019 2018 Delta (%) FX(%)* FX(%)* $ 276 $ 240 15% 17% $ 509 $ 484 5% 7% OE 80% 75% 500 bps 77% 75% 200 bps Bookings Mix ** $ 71 $ 78 -10% -3% $ 150 $ 162 -7% 0% AM 20% 25% (50
Slide 16: Investor Relations Contacts
Investor Relations Contacts Jay Roueche Mike Mullin 972.443.6560 972.443.6636 jroueche@flowserve.com mmullin@flowserve.com Flowserve Q2 2019 Earnings Conference Call 1 6