Slide 1: Q2 2026 Earnings Conference Call
Q2 2026 EARNINGS CONFERENCE CALL July 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 • Significant Q2 bookings growth and robust operating margin expansion • Disciplined execution through the Flowserve Business System • Proactively supporting Middle East customers while managing a dynamic situation • Confidence in delivering mid-single digit full-year bookings growth • 2026
Slide 4: Q2 2026 Bookings Overview
Q2 2026 BOOKINGS OVERVIEW BOOKINGS $ millions +26% 1,348 Strong Q2 bookings including robust project bookings in all 1,074 regions, partially offset by lower Middle East run-rate bookings 652 453 +44% Original Equipment Strong commercial activity from large engineered projects, MRO bookings in line
Slide 5: Q2 2026 Bookings and Market Outlook
Q2 2026 BOOKINGS AND MARKET OUTLOOK Q2 2026 YTD 2026 • 1.12x YTD book-to-bill Q2 2026 Bookings Bookings End Market Mix Growth Growth • Fundamentals across our end markets remain healthy • Energy led Q2 growth driven by accelerating global Energy investments in energy security and LNG +48% +17% 39% •
Slide 6: Middle East Update
MIDDLE EAST UPDATE Pumps & Valves Ready for 1st Half 2026 2nd Half 2026 and Beyond Shipment to Middle East • Middle East bookings improved in • Visibility to 2nd half Middle East Q2 project activity, with sales impact beyond 2026 • Strong project activity in energy security, LNG, and chemical • Assu
Slide 7: Disciplined Capital Allocation
DISCIPLINED CAPITAL ALLOCATION Shareholder Returns • $55 million of dividends year to date through June • $25 million of share repurchases in Q2, with an additional $25 million of share repurchases in July Acquisition of Trillium Flow Technologies’ Valves Division • Fully aligned with 3D strategy an
Slide 8: Q2 2026 Income Statement Highlights
Q2 2026 INCOME STATEMENT HIGHLIGHTS SALES ADJ. GROSS MARGIN* Q2 2026 vs. Q2 2025 Sales Bridge $1.2B 35.9% Implied Underlying Growth ~1 pt Middle East (~2 pt) (2%) +100 bps 80/20 Headwind (~2 pt) Organic Sales (3.3%) ADJ. OPERATING ADJ. EPS* MARGIN* Acquisition / Divestiture 90 bps Foreign Exchange 8
Slide 9: Q2 2026 Segment Highlights
Q2 2026 SEGMENT HIGHLIGHTS FPD FCD Q2 2026 Year-Over-Year Q2 2026 Year-Over-Year Bookings $938M 29.6% $417M 17.6% Sales $814M (0.6%) $357M (3.8%) Adjusted Gross Margin* 37.8% 100 bps 31.1% 30 bps Adjusted Operating Income* $173M 4.2% $45M (0.9%) Adjusted Operating Margin* 21.3% 100 bps 12.6% 40 bps
Slide 10: Q2 2026 Cash Flow and Balance Sheet
Q2 2026 CASH FLOW AND BALANCE SHEET OPERATING CASH FLOW $ millions • $129 million of cash from operations driven by higher earnings and working capital management • Second quarter free cash flow-to-adjusted net earnings* of $154 $129 92%1 • Expect full-year free cash flow-to-adjusted net earnings1 o
Slide 11: 2026 Full-Year Guidance
2026 FULL-YEAR GUIDANCE 2026 Full-Year Guidance • Expect full-year adjusted operating margin expansion of ~100 bps Prior Current • +300 bps of sales benefit from acquisition / Organic Sales Growth (1%) to +2% Approximately (1%) divestiture (consistent with prior guidance), following June 30th closur
Slide 12: 2nd Half 2026 Assumptions
2ND HALF 2026 ASSUMPTIONS • Abatement of 1st half sales headwinds • 80/20 headwind more pronounced in 1st half • Q1 MRO softness returned to expected levels in Q2 Y/Y ORGANIC SALES: H1 TO H2 ACCELERATION • Expect organic sales growth acceleration in 2nd half 5% • Larger backlog • Aftermarket growth
Slide 13: Summary
SUMMARY • Significant Q2 bookings growth and robust operating margin expansion • Disciplined execution through the Flowserve Business System • Proactively supporting Middle East customers while managing a dynamic situation • Confidence in delivering mid-single digit full-year bookings growth • 2026
Slide 14: Appendix
Appendix Q2 2026 Earnings Conference Call 14
Slide 15: Q2 2026 Consolidated Financial Results
Q2 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, General Provision For Gross & Administrative Net earnings Operating Other Income
Slide 16: YTD 2026 Consolidated Financial Results
YTD 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, General Provision For Gross & Administrative Net earnings Operating Other Incom
Slide 17: Q2 2025 Consolidated Financial Results
Q2 2025 CONSOLIDATED FINANCIAL RESULTS Q2 2026 Earnings Conference Call 17
Slide 18: YTD 2025 Consolidated Financial Results
YTD 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 Gross & Administrative Operating Other Income (Benefit Fr
Slide 19: Q2 2026 and Q2 2025 Segment Financial Results
Q2 2026 AND Q2 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, General Selling, General & Administrative Net earnings Operating & Administr
Slide 20: YTD 2026 and 2025 Segment Financial Results
YTD 2026 AND 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, General Selling, General & Administrative Net earnings Operating & Administrat
Slide 21: 2026 Segment Bookings and Sales
2026 SEGMENT BOOKINGS AND SALES Note: Amounts may not calculate due to rounding (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 divestitu
Slide 22: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION Reconciliations of Net Income to Adjusted EBITDA (Unaudited) (Amounts in thousands) Three Months Three Months Three Months Three Months Ended March 31, Ended June 30, Ended March 31, Ended June 30, 2026 2026 2025 2025 Net earnings attributable to Flowserve Corporation
Slide 23: Investor Relations Contacts
Investor Relations Contacts Brian Ezzell, Vice President, Investor Relations, Treasurer & Corporate Finance Olivia Webb, Director, Investor Relations investorrelations@flowserve.com