Slide 1: Q1 2026 Earnings Conference Call
Q1 2026 EARNINGS CONFERENCE CALL April 30, 2026
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: Summary
SUMMARY • Building on momentum of Flowserve Business System • Growth strategy aligned to global megatrends • Proactively managing situation in Middle East • 2026 outlook delivers double-digit adjusted EPS growth • Continued progress toward 2030 financial targets Strong execution in a dynamic environ
Slide 4: Bookings Overview
Q1 2026 BOOKINGS OVERVIEW Q1 BOOKINGS GROWTH BY END MARKET BOOKINGS $ millions (6%) Q1 bookings in line with expectations 1,227 excluding ~ $50 million or 4% 1,148 headwind from Middle East disruption 538 468 (13%) Original Equipment POWER: (12%) CHEMICAL: +3% Continued strength in power offset by l
Slide 5: Middle East Update
MIDDLE EAST UPDATE Estimated Q1 Headwind How We Are Responding Impact to Outlook Bookings $50 million • Prioritizing employee safety • Guidance assumes: Sales $25 million • Supporting customers to ensure • Q2 disruption similar to Q1 continued operation of flow • No significant secondary Op Inc $9 m
Slide 6: Market Outlook
MARKET OUTLOOK ENERGY: 34% • Higher crack spreads generating urgency for aftermarket parts and services • Middle East conflict accelerating project activity in rest • Fundamentals across our end markets remain healthy of world • Power demand driving outsized growth in nuclear and GENERAL INDUSTRIES:
Slide 7: Flowserve Business System
FLOWSERVE BUSINESS SYSTEM • Delivering consistent execution to drive sustainable margin expansion and long-term value creation Adjusted Operating Margin* 20% • Operational Excellence strengthening core operations and execution abilities ~16% 14.8% • Strategic focus and meaningful efficiencies from 1
Slide 8: Income Statement Highlights
Q1 2026 INCOME STATEMENT HIGHLIGHTS SALES ADJ. GROSS ADJ. OPERATING ADJ. EPS* MARGIN* MARGIN* Q1 Call-outs $1.1B 37.2% 15.1% $0.85 $0.19 Tariff Recovery ($0.06) Tax Authority Impact ($0.06) Middle East Disruption (7%) +370 bps +230 bps +18% • Thirteenth consecutive quarter of year-over-year adjusted
Slide 9: Segment Highlights
Q1 2026 SEGMENT HIGHLIGHTS FPD FCD Q1 2026 Year-Over-Year Q1 2026 Year-Over-Year Bookings $774M (9.3%) $374M (0.5%) Revenue $745M (4.9%) $328M (10.0%) Adjusted Gross Margin* 37.7% 300 bps 35.2% 480 bps Adjusted Operating Income* $142M 2.5% $52M 17.1% Adjusted Operating Margin* 19.1% 140 bps 15.9% 37
Slide 10: Cash Flow and Balance Sheet
Q1 2026 CASH FLOW AND BALANCE SHEET • Cash from operations was a $43 million use of cash driven by higher temporary working capital requirements consistent with historical seasonality Net Leverage2 • Expect full year free cash flow-to-adjusted net earnings1 of 90% or more 1.5x 1.2x • Net leverage2 o
Slide 11: 2026 Full Year Guidance
2026 FULL YEAR GUIDANCE Guidance Bridge ($0.06) 1 ($0.06) 2026 Guidance Prior Current $0.19 ($0.07) Organic Sales Growth +1% to +3% (1%) to +2% Total Sales Growth2 +5% to +7% +3% to +6% Adjusted EPS3 $4.00 to $4.20 $4.00 to $4.20 $4.00- $4.00- $4.20 $4.20 Net Interest Expense ~$80 million ~$85 milli
Slide 12: Summary
SUMMARY • Building on momentum of Flowserve Business System • Growth strategy aligned to global megatrends • Proactively managing situation in Middle East • 2026 outlook delivers double-digit adjusted EPS growth • Continued progress toward 2030 financial targets Strong execution in a dynamic environ
Slide 13: Appendix
Appendix Q1 2026 Earnings Conference Call 13
Slide 14: Flowserve Middle East Business Overview
FLOWSERVE MIDDLE EAST BUSINESS OVERVIEW 2025 Middle East Bookings • 12% of total Flowserve bookings • ~45% Original Equipment, ~55% Aftermarket • ~60% FPD, ~40% FCD • Energy more than half of bookings Middle East Operations • ~800 employees • Three manufacturing plants in Saudi Arabia • Eleven Quick
Slide 15: Q1 2026 Consolidated Financial Results
Q1 2026 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, Provision For General & Other Income (Benefit Gross Administrative Operating (Ex
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, Provision For General & Other Income (Benefit Gross Administrative Operating (Ex
Slide 17: Q1 2026 and Q1 2025 Segment Financial Results
Q1 2026 AND Q1 2025 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, Selling, General & General & Administrative Operating Administrative Operati
Slide 18: Q1 2026 Segment Bookings and Sales
Q1 2026 SEGMENT BOOKINGS AND SALES (a) Foreign exchange (FX) impact reflects a year-over-year change in foreign currency translation. (b) Organic is defined as the change excluding the impacts of foreign currency translation and acquisitions and divestitures. (c) Bookings and sales do not include in
Slide 19: FY 2025 Consolidated Financial Results
FY 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) Loss on Selling, Divestiture of General & Asbestos- Provision For Net Administrative Rela
Slide 20: FY 2024 Consolidated Financial Results
FY 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 Net Administrative Loss on Sale of Operating Other Incom
Slide 21: FY 2023 Consolidated Financial Results
FY 2023 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, Other Net Earnings General & Income Provision For Attributable to Net Administra
Slide 22: Investor Relations Contacts
Investor Relations Contacts Brian Ezzell Olivia Webb bezzell@flowserve.com owebb@flowserve.com