Slide 1: Q2 2025 Earnings Conference Call
Q2 2025 EARNINGS CONFERENCE CALL July 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: Q2 2025 Highlights
Q2 2025 HIGHLIGHTS TOTAL BOOKINGS SALES ADJUSTED GROSS MARGINS* $1.1B $1.2B 34.9% Solid bookings driven by Revenue growth of 3% Robust year-over-year aftermarket and MRO activity compared to prior year improvement of 260 basis points ADJUSTED ADJUSTED EPS* CASH FROM OPERATING MARGINS* OPERATIONS 14.
Slide 4: Q2 2025 Bookings Overview
Q2 2025 BOOKINGS OVERVIEW Total Bookings $ millions • $1.1 billion of total bookings $1,246 $1,226 $1,074 - Strong activity in smaller projects and run-rate business - Largest single project award in the quarter was $11 million 2024 Q2 2025 Q1 2025 Q2 • Fifth consecutive quarter of aftermarket Total
Slide 5: Market Outlook
MARKET OUTLOOK ENERGY: 33% • Refining utilization remains steady at healthy levels • Project timing decisions have more uncertainty • Existing facility utilization remains healthy driving enhanced aftermarket demand GENERAL INDUSTRIES: 34% • Metals and critical minerals project spending expected to
Slide 6: Tariff Update
TARIFF UPDATE APRIL ASSUMPTIONS CURRENT ASSUMPTIONS CONTEXT & MITIGATING ACTIONS • U.S. import tariffs in place remainder of • U.S. import tariffs in place remainder of • Two-thirds of revenue is outside the United States year year - China at 145% - China at 30% • Implemented two list price increase
Slide 7: Q2 2025 Overview
Q2 2025 OVERVIEW SALES ADJ. GROSS MARGIN* ADJ. OPERATING MARGIN* ADJ. EPS* $ millions 3% 260 bps 210 bps 25% $1,188 34.9% $1,157 $1,145 33.5% 14.6% $0.91 32.3% 12.8% $0.73 $0.72 12.5% 2024 Q2 2025 Q1 2025 Q2 2024 Q2 2025 Q1 2025 Q2 2024 Q2 2025 Q1 2025 Q2 2024 Q2 2025 Q1 2025 Q2 Healthy aftermarket
Slide 8: Q2 2025 FPD Segment
Q2 2025 FPD SEGMENT FPD Results • Solid bookings in the quarter, with year- Q2 2025 Year-Over-Year over-year comparison impacted by large project awards last year Bookings $723.8 (19.5%) Revenue $818.9 0.8% • Backlog of $2 billion at near-record high Adjusted Gross Margin* 36.8% 390 bps • Exceptiona
Slide 9: Q2 2025 FCD Segment
Q2 2025 FCD SEGMENT FCD Results • Growth in bookings driven by strong Q2 2025 Year-Over-Year execution and strength in general industries Bookings $354.7 1.6% • Organic FCD adjusted operating margin grew 140 basis points versus last year Revenue $371.5 6.8% driven by 80/20 benefits and productivity
Slide 10: Q2 2025 Cash Flow
Q2 2025 CASH FLOW YTD OPERATING CASH FLOW $ millions • Strong cash from operations of $154 million in Q2 $104 driven by earnings and working capital efficiency $49 • Second quarter free cash flow-to-adjusted net earnings of 115%1 2024 Q2 2025 Q2 YTD SHAREHOLDER RETURN3 • Over 50% increase in cash re
Slide 11: Updated 2025 Full-Year Guidance
UPDATED 2025 FULL-YEAR GUIDANCE 2025 Guidance Prior Current • Increased full-year earnings guidance on robust first-half results and continued Organic Sales Growth Up 3% - 5% Up 3% - 4% execution momentum Total Sales Growth [1] Up 5% - 7% Up 5% - 6% • Adjusted EPS2 guidance midpoint: Adjusted EPS [2
Slide 12: Our Future
OUR FUTURE 3D Strategy Flowserve Business System DIVERSIFY Diversify end markets and create a more balanced portfolio DECARBONIZE Support our customers today and through the energy transition DIGITIZE Leverage technology and data to improve internal operations, customer experience, and provide custo
Slide 13: Q2 Summary
Q2 SUMMARY • Strong second quarter and first-half results • Launched Commercial Excellence program in Q2 to drive profitable growth • Project funnel increased sequentially; some increased risk in project timing • Flowserve Business System continues to drive higher margins • Disciplined capital alloc
Slide 14: Appendix
Appendix Q2 2025 Earnings Conference Call 14
Slide 15: Q2 2025 Consolidated Financial Results
Q2 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 16: 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 Administrative Operating Other Income (Benefit From) Ne
Slide 17: Q2 2024 Consolidated Financial Results
Q2 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 Other Income (Benefit Fr
Slide 18: YTD 2024 Consolidated Financial Results
YTD 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 Operating Other Income
Slide 19: Q2 2025 and Q2 2024 Segment Financial Results
Q2 2025 AND Q2 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 20: YTD 2025 and 2024 Segment Financial Results
YTD 2025 AND 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 Operating
Slide 21: 2025 and 2024 Segment Bookings and Sales Mix
2025 AND 2024 SEGMENT BOOKINGS AND SALES MIX Flowserve Pumps Division ($ millions) Q2 2025 Q2 2024 Delta (%) Constant YTD 2025 YTD 2024 Delta (%) Constant FX (%)1 FX (%) 2 $201 $378 -47% -48% $464 $588 -21% -21% OE 3 28% 42% (1400) bps 29% 37% (800) bps Bookings Mix $523 $521 0% -1% $1,112 $1,014 10
Slide 22: Investor Relations Contacts
Investor Relations Contacts Brian Ezzell Tarek Zeni 469.420.3222 469.420.4045 bezzell@flowserve.com tzeni@flowserve.com