Flowserve Corporation (FLS) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the FlowServe First Quarter 2026 Earnings Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Mr. Brian Ezell, VP of Investor Relations. Please go ahead, sir. Thank you and good morning, everyone. Welcome to FlowServe's First Quarter 2026 Business Update. I'm joined by Scott Rowe, FlowServe's President and Chief Executive Officer, and FlowServe Chief Financial Officer, Amy Schwetz. Following Scott and Amy's prepared remarks, we'll open the call for questions. Turning to slide two, our discussion will contain forward-looking statements that are based upon information available as of today. Actual results may differ due to risks and uncertainties. Refer to additional information, including our note on non-GAAP measures and our press release, earnings presentation, and SEC filings, which are available on our website. With that, I'll turn the call over to Scott. Thank you, Brian, and good morning, everyone. I'd like to begin by thanking our associates around the world for their hard work, disciplined execution, and resilience in a highly dynamic environment. Our first quarter results reflect their continued focus on execution as we delivered strong adjusted operating margin expansion of 230 basis points and adjusted earnings per share growth of 18%, including the net benefit of tariffs and other unanticipated items in the quarter that Amy will discuss in more detail. While bookings and sales were impacted by events in the Middle East, We maintain our full year adjusted EPS outlook of $4 to $4.20, which at the midpoint represents 13% growth over 2025. We continue to advance our strategy and leverage the closer business system to unlock greater potential across the company. As we announced in late March,...