Form 8-K

8-K — FLOWSERVE CORP

Accession: 0001193125-26-323649

Filed: 2026-07-29

Period: 2026-07-29

CIK: 0000030625

SIC: 3561 (PUMPS & PUMPING EQUIPMENT)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — d15165d8k.htm (Primary)

EX-99.1 (d15165dex991.htm)

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8-K

8-K (Primary)

Filename: d15165d8k.htm · Sequence: 1

8-K

FLOWSERVE CORP false 0000030625 0000030625 2026-07-29 2026-07-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 29, 2026

FLOWSERVE CORPORATION

(Exact Name of Registrant as Specified in its Charter)

New York

1-13179

31-0267900

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

5215 N. O’Connor Blvd., Suite 700, Irving, Texas

75039

(Address of Principal Executive Offices)

(Zip Code)

(972) 443-6500

(Registrant’s telephone number, including area code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Common Stock, $1.25 Par Value

FLS

New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 29, 2026, Flowserve Corporation, a New York corporation (the “Company”), issued a press release announcing financial results for the second quarter ended June 30, 2026. A copy of this press release is attached as Exhibit 99.1 and incorporated herein by reference.

The information furnished in Item 2.02 of this Form 8-K and in Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, unless specifically identified therein as being incorporated therein by reference.

Item 7.01 Regulation FD Disclosure.

On July 30, 2026, the Company will make a presentation about its financial and operating results for the second quarter of 2026, as noted in the press release described in Item 2.02 above. The Company has posted the presentation on its website at http://www.flowserve.com under the “Investors” section.

The information furnished in Item 7.01 of this Form 8-K and in Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that section and shall not be deemed incorporated by reference into any filing under the Securities Act, or the Exchange Act, unless specifically identified therein as being incorporated therein by reference.

Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit No.

Description

99.1

Press Release, dated July 29, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL Document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FLOWSERVE CORPORATION

Dated: July 29, 2026

By:

/s/ Amy B. Schwetz

Amy B. Schwetz

Senior Vice President, Chief Financial Officer and

Interim Chief Accounting Officer

EX-99.1

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EX-99.1

EXHIBIT 99.1

Flowserve Corporation Reports Second Quarter 2026 Results

Flowserve Business System Delivers Strong Q2 Performance; Updates 2026 Guidance

DALLAS, July 29, 2026 – Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure

markets, reported its financial results for the second quarter ended June 30, 2026.

Highlights:

•

Quarterly bookings of $1.35 billion, up 26% versus the prior year period, including record aftermarket

bookings of $696 million

•

Operating margin of 13.0% expanded 70 basis points and

adjusted1 operating margin2 of 15.3% expanded 70 basis points compared to the prior year period

•

Reported EPS of $0.77 and adjusted EPS3 of $0.95

•

Updated full-year 2026 organic sales guidance to down approximately 1% reflecting the continued impact of Middle

East conflict

•

Raised the low end of adjusted EPS guidance3 to $4.05 to

$4.20

Management Commentary:

“Flowserve delivered strong second quarter results, with significant bookings growth, robust operating margin expansion, and adjusted earnings per share

above our initial expectations,” said Scott Rowe, Flowserve’s President and Chief Executive Officer. “ Importantly, this marks our 14th consecutive quarter of year-over-year adjusted gross margin expansion, a reflection of the

structural, durable progress we’re making. These results, delivered against a dynamic market backdrop, underscore the strength of the Flowserve Business System and the power of the 3D growth strategy coupled with the commitment of our teams

around the world.”

Rowe continued, “Demand across our end markets remains resilient, led by power, nuclear, and energy security investments.

While our healthy project pipeline positions us for continued bookings growth, we are adjusting our full-year sales guidance to reflect geopolitical uncertainty in the Middle East and its expected impact on our

run-rate business in the region during the second half of the year. At the same time, our strong earnings performance year to date and continued confidence in our ability to expand margins enable us to raise

the low end of our full-year adjusted EPS guidance range. We remain firmly on track to deliver on our 2030 financial targets and create value for shareholders.”

Key Figures (unaudited):

(dollars in millions, except per share)

Q2 2026

Q2 2025

Change

YTD 2026

YTD 2025

Change

Original Equipment Bookings

652.3

453.3

43.9

1,119.5

990.2

13.1

Aftermarket Bookings

695.8

620.6

12.1

1,376.2

1,309.2

5.1

Total Bookings

1,348.1

1,073.9

25.5

2,495.7

2,299.4

8.5

Organic Sales4

(3.3

(6.9

Acquisition/Divestiture Impact

90 bps

60 bps

Foreign Exchange Impact

80 bps

220 bps

Reported Sales

1,169.2

1,188.1

(1.6

2,237.4

2,332.6

(4.1

Operating Margin

13.0

12.3

70 bps

12.1

11.9

20 bps

Adjusted Operating Margin

15.3

14.6

70 bps

15.2

13.8

140 bps

Earnings Per Share (EPS)

0.77

0.62

24.2

1.41

1.18

19.5

Adjusted Earnings Per Share (EPS)

0.95

0.91

4.4

1.80

1.63

10.4

Cash From Operations

129.2

154.1

24.9

)

86.2

104.2

18.0

)

Backlog5

3,336.0

2,853.2

16.9

3,336.0

2,853.2

16.9

2026 Guidance3:

The Company updated 2026 guidance:

Prior

Current

Organic Sales Growth

(1%) to +2%

Approx. (1%)

Impact From Acquisition/Divestiture

Approx. +300 bps

Impact From Foreign Exchange Translation

Approx. +100 bps

Total Sales Growth

+3% to +6%

Approx. +3%

Adjusted EPS

$4.00 to $4.20

$4.05 to $4.20

Net Interest Expense

Approx. $85 million

Adjusted Tax Rate

21% to 22%

Capital Expenditures

$90 million to

$100 million

Approx.

$100 million

The guidance assumes tariff rates in place as of July 1, 2026, and assumes current business conditions in the Middle

East, which have been impacted by armed conflict and geopolitical instability, persist for the remainder of the year.

Webcast and Conference Call Instructions:

Flowserve will host its conference call to discuss second quarter results on Thursday, July 30, 2026, at 8:30 a.m. Eastern Time. The call can be accessed

by shareholders and other interested parties on Flowserve’s Investors page.

Footnotes

See Consolidated Reconciliation of Non-GAAP Financial Measures to the

Most Directly Comparable GAAP Financial Measure (unaudited) and Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (unaudited) tables for a detailed

reconciliation of reported results to adjusted measures.

Adjusted operating margin is calculated by dividing adjusted operating income by sales. Adjusted operating

income is derived by excluding the adjusted items.

Adjusted earnings per share (EPS) excludes realignment expenses, the impact from other specific discrete and below-the-line foreign currency effects and utilizes the then-applicable foreign exchange rates and fully diluted shares. Adjusted full-year 2026 EPS guidance excludes certain

other discrete items which may arise during the year.

Organic is defined as the change in sales, as defined by U.S. GAAP, excluding the impacts of currency

translation and acquisitions and divestitures. The impact of currency translation is calculated by translating current year results on a monthly basis at prior year exchange rates for the same period.

Q2 and YTD 2026 backlog includes Trillium backlog of $225 million.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

Three Months Ended June 30,

(Amounts in thousands)

2026

2025

Sales

1,169,175

1,188,092

Cost of sales

(784,449

)

(781,510

)

Gross profit

384,726

406,582

Selling, general and administrative expense

(266,318

)

(265,908

)

Net earnings from affiliates

33,015

5,916

Operating income

151,423

146,590

Interest expense

(25,696

)

(20,253

)

Interest income

5,023

2,526

Other expense, net

(12,087

)

(25,003

)

Earnings before income taxes

118,663

103,860

Provision for income taxes

(17,078

)

(15,636

)

Net earnings, including noncontrolling interests

101,585

88,224

Less: net earnings attributable to noncontrolling interests

(2,587

)

(6,470

)

Net earnings attributable to Flowserve Corporation

98,998

81,754

Net earnings per share attributable to Flowserve Corporation common shareholders:

Basic

0.78

0.62

Diluted

0.77

0.62

Weighted average shares - basic

127,644

130,846

Weighted average shares - diluted

128,358

131,599

Consolidated Reconciliation of Non-GAAP Financial Measures to the

Most Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands, except per share data)

Three Months Ended June 30, 2026

Gross

Profit

Selling,

General &

Administrative

Expense

Net Earnings

from Affiliates

Operating

Income

Other Income

(Expense), Net

Provision For

(Benefit From)

Income Taxes

Net Earnings

(Loss)

Effective

Tax Rate

Diluted

EPS

Reported

384,726

266,318

33,015

151,423

(12,087

)

17,078

98,998

14.4

0.77

Reported as a percent of sales

32.9

22.8

2.8

13.0

-1.0

1.5

8.5

Realignment charges (a)

32,979

(7,751

)

—

40,730

—

8,590

32,140

21.1

0.25

Acquisition and divestiture related (b)(c)

—

(9,316

)

(27,700

)

(18,384

)

—

2,163

(20,547

)

-11.8

(0.16

)

Amortization of intangible assets (d)

1,543

(3,103

)

—

4,646

—

997

3,649

21.5

0.03

Discrete items (e)(f)

(215

)

—

246

3,076

782

2,540

23.5

0.02

Below-the-line

foreign exchange impacts (g)

—

6,315

1,414

4,901

22.4

0.04

Adjusted

419,279

245,933

5,315

178,661

(2,696

)

31,024

121,681

20.0

0.95

Adjusted as a percent of sales

35.9

21.0

0.5

15.3

-0.2

2.7

10.4

Note: Amounts may not calculate due to rounding

(a)

Charges represent realignment costs incurred as a result of realignment programs of which $5,003 is non-cash.

(b)

Charges represent $9,316 of costs associated with strategic acquisition and divestiture activities including

the acquisitions of Trillium Valves and Flowserve Al Mansoori Services Company (FAMCO).

(c)

Adjustment represents a $27,700 gain recognized in Net earnings from affiliates on the remeasurement of our

previously held equity interest in FAMCO.

(d)

Charges represent non-cash amortization of intangible assets.

(e)

Charges represent $246 of non-cash share-based compensation expense

associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

(f)

Charges include $3,076 for non-cash pension settlement accounting

losses incurred in conjunction with pension plans in the United States and Canada.

(g)

Below-the-line foreign exchange

impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency.

Three Months Ended June 30, 2025

Gross

Profit

Selling,

General &

Administrative

Expense

Operating

Income

Other Income

(Expense), Net

Provision For

(Benefit From)

Income Taxes

Net Earnings

(Loss)

Effective Tax

Rate

Diluted

EPS

Reported

406,582

265,908

146,590

(25,003

)

15,636

81,754

15.1

0.62

Reported as a percent of sales

34.2

22.4

12.3

-2.1

1.3

6.9

Realignment charges (a)

5,106

1,787

3,319

—

1,318

2,001

39.7

0.02

Acquisition related (b)

752

(3,190

)

3,942

—

927

3,015

23.5

0.02

Purchase accounting step-up and intangible asset

amortization (c)

2,642

(1,300

)

3,942

—

1,186

2,756

30.1

0.02

Discrete items (d)(e)

(382

)

424

1,500

453

1,471

23.5

0.01

Merger transaction costs (f)

—

(15,515

)

15,515

—

3,649

11,866

23.5

0.09

Below-the-line

foreign exchange impacts (g)

—

20,023

2,910

17,113

14.5

0.13

Adjusted

415,124

247,308

173,732

(3,480

)

26,079

119,976

17.1

0.91

Adjusted as a percent of sales

34.9

20.8

14.6

-0.3

2.2

10.1

Note: Amounts may not calculate due to rounding

(a)

Charges represent realignment costs incurred as a result of realignment programs of which $1,500 is non-cash.

(b)

Charge represents acquisition and integration related costs associated with the MOGAS acquisition.

(c)

Charge represents amortization of step-up in value of acquired

inventories and acquisition related intangible assets associated with the MOGAS acquisition.

(d)

Charge represents share-based compensation expense associated with a

one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

(e)

Charge of $1,500 represents a pension settlement accounting loss incurred in conjunction with the freeze of our

US Qualified pension plan.

(f)

Charge represents transaction costs incurred associated with the Chart Industries merger.

(g)

Below-the-line foreign exchange

SEGMENT INFORMATION

(Unaudited)

Three Months Ended June 30,

FLOWSERVE PUMPS DIVISION

2026

2025

(Amounts in millions, except percentages)

Bookings

938.1

723.8

Sales

814.1

818.9

Gross profit

296.1

299.2

Gross profit margin

36.4

36.5

SG&A

148.0

142.4

Segment operating income

181.2

162.7

Segment operating income as a percentage of sales

22.3

19.9

Three Months Ended June 30,

FLOW CONTROL DIVISION

2026

2025

(Amounts in millions, except percentages)

Bookings

417.1

354.7

Sales

357.3

371.5

Gross profit

88.5

107.7

Gross profit margin

24.8

29.0

SG&A

77.5

69.9

Segment operating income

11.0

37.8

Segment operating income as a percentage of sales

3.1

10.2

Segment Reconciliation of Non-GAAP Financial Measures to the Most

Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands)

Flowserve Pumps Division

Three Months Ended June 30, 2026

Gross Profit

Selling,

General &

Administrative

Expense

Net Earnings

from Affiliates

Operating

Income

Reported

296,141

148,003

33,014

181,151

Reported as a percent of sales

36.4

18.2

4.1

22.3

Realignment charges (a)

10,521

(5,392

)

—

15,913

Discrete items (b)

(48

)

—

Acquisition and divestiture related (c)(e)

—

(774

)

(27,700

)

(26,926

)

Amortization of intangible assets (d)

1,443

(1,801

)

—

3,244

Adjusted

308,129

139,988

5,314

173,454

Adjusted as a percent of sales

37.8

17.2

0.7

21.3

Flow Control Division

Three Months Ended June 30, 2026

Gross Profit

Selling,

General &

Administrative

Expense

Operating

Income

Reported

88,546

77,528

11,018

Reported as a percent of sales

24.8

21.7

3.1

Realignment charges (a)

22,458

(1,735

)

24,193

Discrete items (b)

(20

)

Acquisition and divestiture related (c)

—

(8,427

)

8,427

Amortization of intangible assets (d)

100

(1,302

)

1,402

Adjusted

111,109

66,044

45,065

Adjusted as a percent of sales

31.1

18.5

12.6

Note: Amounts may not calculate due to rounding

(a)

Charges represent realignment costs incurred as a result of realignment programs of which $5,003 is non-cash.

(b)

Charges represent $97 of non-cash share-based compensation expense

associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

(c)

Charges represent $9,201 of costs associated with strategic acquisition and divestiture activities including

the acquisitions of Flowserve Al Mansoori Services Company (FAMCO) and Trillium Valves within FPD and FCD, respectively.

(d)

Charges represent non-cash amortization of intangible assets.

(e)

Adjustment represents a $27,700 gain recognized in Net earnings from affiliates on the remeasurement of our

previously held equity interest in FAMCO.

Flowserve Pumps Division

Three Months Ended June 30, 2025

Gross Profit

Selling,

General &

Administrative

Expense

Operating

Income

Reported

299,229

142,400

162,745

Reported as a percent of sales

36.5

17.4

19.9

Realignment charges (a)

1,888

(1,749

)

3,637

Discrete items (b)

(99

)

134

Adjusted

301,152

140,552

166,516

Adjusted as a percent of sales

36.8

17.2

20.3

Flow Control Division

Three Months Ended June 30, 2025

Gross Profit

Selling,

General &

Administrative

Expense

Operating

Income

Reported

107,694

69,922

37,772

Reported as a percent of sales

29.0

18.8

10.2

Realignment charges (a)

3,217

3,504

(287

)

Acquisition related (c)

752

(3,190

)

3,942

Purchase accounting step-up and intangible asset

amortization (d)

2,642

(1,300

)

3,942

Discrete items (b)

(99

)

104

Adjusted

114,310

68,838

45,472

Adjusted as a percent of sales

30.8

18.5

12.2

Note: Amounts may not calculate due to rounding

(a)

Charges represent realignment costs incurred as a result of realignment programs of which $1,500 is non-cash.

(b)

Charge represents share-based compensation expense associated with a

one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

(c)

Charge represents acquisition and integration-related costs associated with the MOGAS acquisition.

(d)

Charge represents amortization of step-up in value of acquired

inventories and acquisition related intangible assets associated with the MOGAS acquisition.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(Amounts in thousands, except per share data)

Six Months Ended June 30,

2026

2025

Sales

2,237,444

2,332,635

Cost of sales

(1,472,877

)

(1,556,719

)

Gross profit

764,567

775,916

Selling, general and administrative expense

(529,718

)

(509,085

)

Net earnings from affiliates

36,006

11,648

Operating income

270,855

278,479

Interest expense

(46,127

)

(39,428

)

Interest income

6,523

4,271

Other expense, net

(5,088

)

(42,262

)

Earnings before income taxes

226,163

201,060

Provision for income taxes

(38,209

)

(33,379

)

Net earnings, including noncontrolling interests

187,954

167,681

Less: Net earnings attributable to noncontrolling interests

(7,275

)

(12,022

)

Net earnings attributable to Flowserve Corporation

180,679

155,659

Net earnings per share attributable to Flowserve Corporation common shareholders:

Basic

1.42

1.19

Diluted

1.41

1.18

Weighted average shares - basic

127,569

131,206

Weighted average shares - diluted

128,489

132,135

Consolidated Reconciliation of Non-GAAP Financial Measures to the

Most Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands, except per share data)

Six Months Ended June 30, 2026

Gross

Profit

Selling,

General &

Administrative

Expense

Net Earnings

from Affiliates

Operating

Income

Other Income

(Expense), Net

Provision For

(Benefit From)

Income Taxes

Net Earnings

(Loss)

Effective

Tax Rate

Diluted

EPS

Reported

764,567

$529,718

36,006

270,855

(5,088

)

38,209

180,679

16.9

1.41

Reported as a percent of sales

34.2

23.7%

1.6

12.1

-0.2

1.7

8.1

Realignment charges (a)

49,481

(20,216)

—

69,697

—

13,033

56,664

18.7

0.44

Acquisition and divestiture related (b)(c)

—

(17,904)

(27,700

)

(9,796

)

—

4,313

(14,109

)

-44.0

(0.11

)

Amortization of intangible assets (d)

2,556

(5,347)

—

7,903

—

1,520

6,383

19.2

0.05

Discrete items (e)(f)

(889)

—

951

4,576

1,301

4,226

23.5

0.03

Below-the-line

foreign exchange impacts (g)

—

(2,723

)

(187

)

(2,536

)

6.9

(0.02

)

Adjusted

816,666

$485,362

8,306

339,610

(3,235

)

58,189

231,307

19.6

1.80

Adjusted as a percent of sales

36.5

21.7%

0.4

15.2

-0.1

2.6

10.3

Note: Amounts may not calculate due to rounding

(a)

Charges represent realignment costs incurred as a result of realignment programs, net of a $5,300 gain

associated with a sale-leaseback transaction related to a FCD facility, and of which $5,234 is non-cash.

(b)

Charges represent $17,904 of costs associated with strategic acquisition and divestiture activities including

the acquisitions of Greenray, Trillium Valves and Flowserve Al Mansoori Services Company (FAMCO).

(c)

Adjustment represents a $27,700 gain recognized in Net earnings from affiliates on the remeasurement of our

previously held equity interest in FAMCO.

(d)

Charges represent non-cash amortization of intangible assets.

(e)

Charges represent discrete items including $523 of non-cash share-based

compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified

pension plan and $428 of transaction costs related to the divestiture of our asbestos-related assets and liabilities.

(f)

Charges include $4,576 for non-cash pension settlement accounting

losses incurred in conjunction with pension plans in the United States and Canada.

(g)

Below-the-line foreign exchange

Six Months Ended June 30, 2025

Gross

Profit

Selling,

General &

Administrative

Expense

Operating

Income

Other Income

(Expense), Net

Provision For

(Benefit From)

Income Taxes

Net Earnings

(Loss)

Effective Tax

Rate

Diluted

EPS

Reported

775,916

509,085

278,479

(42,262

)

33,379

155,659

16.6

1.18

Reported as a percent of sales

33.3

21.8

11.9

-1.8

1.4

6.7

Realignment charges (a)

15,121

3,091

12,030

—

3,189

8,841

26.5

0.07

Acquisition related (b)

752

(4,471

)

5,223

—

1,228

3,995

23.5

0.03

Purchase accounting step-up and intangible asset

amortization (c)

6,117

(2,600

)

8,717

—

2,547

6,170

29.2

0.05

Discrete items (d)(e)

(765

)

840

3,000

903

2,937

23.5

0.02

Merger transaction costs (f)

—

(15,515

)

15,515

—

3,649

11,866

23.5

0.09

Below-the-line

foreign exchange impacts (g)

—

31,396

5,355

26,041

17.1

0.20

Adjusted

797,981

488,825

320,804

(7,866

)

50,250

215,509

18.1

1.63

Adjusted as a percent of sales

34.2

21.0

13.8

-0.3

2.2

9.2

Note:

Amounts may not calculate due to rounding

(a)

Charges represent realignment costs incurred as a result of realignment programs of which $3,000 is non-cash.

(b)

Charge represents acquisition and integration related costs associated with the MOGAS acquisition.

(c)

Charge represents amortization of step-up in value of acquired

inventories and acquisition related intangible assets associated with the MOGAS acquisition.

(d)

Charge represents share-based compensation expense associated with a

one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

(e)

Charge of $3,000 represents a pension settlement accounting loss incurred in conjunction with the freeze of our

US Qualified pension plan.

(f)

Charge represents transaction costs incurred associated with the Chart Industries merger.

(g)

Below-the-line foreign exchange

SEGMENT INFORMATION

(Unaudited)

FLOWSERVE PUMPS DIVISION

Six Months Ended June 30,

(Amounts in millions, except percentages)

2026

2025

Bookings

1,711.4

1,576.1

Sales

1,558.6

1,602.1

Gross profit

566.1

567.7

Gross profit margin

36.3

35.4

SG&A

295.2

280.1

Segment operating income

306.9

299.3

Segment operating income as a percentage of sales

19.7

18.7

FLOW CONTROL DIVISION

Six Months Ended June 30,

(Amounts in millions, except percentages)

2026

2025

Bookings

791.3

730.4

Sales

684.9

735.6

Gross profit

197.5

207.9

Gross profit margin

28.9

28.3

SG&A

144.8

138.6

Segment operating income

52.7

69.3

Segment operating income as a percentage of sales

7.7

9.4

Segment Reconciliation of Non-GAAP Financial Measures to the Most

Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands)

Flowserve Pumps Division

Six Months Ended June 30, 2026

Gross Profit

Selling,

General &

Administrative

Expense

Net Earnings

from Affiliates

Operating

Income

Reported

566,068

295,171

36,006

306,902

Reported as a percent of sales

36.3

18.9

2.3

19.7

Realignment charges (a)

20,609

(9,533

)

—

30,142

Discrete items (b)

(96

)

—

144

Acquisition and divestiture related (c)(e)

—

(813

)

(27,700

)

(26,887

)

Amortization of intangible assets (d)

2,456

(2,746

)

—

5,202

Adjusted

589,181

281,983

8,306

315,503

Adjusted as a percent of sales

37.8

18.1

0.5

20.2

Flow Control

Division

Six Months Ended June 30, 2026

Gross Profit

Selling,

General &

Administrative

Expense

Operating

Income

Reported

197,493

144,759

52,734

Reported as a percent of sales

28.8

21.1

7.7

Realignment charges (a)

28,872

3,286

25,586

Discrete items (b)

(75

)

Acquisition and divestiture related (c)

—

(16,165

)

16,165

Amortization of intangible assets (d)

100

(2,601

)

2,701

Adjusted

226,475

129,204

97,271

Adjusted as a percent of sales

33.1

18.9

14.2

Note:

Amounts may not calculate due to rounding

(a)

Charges represent realignment costs incurred as a result of realignment programs, net of a $5,300 gain

associated with a sale-leaseback transaction related to a FCD facility, and of which $5,234 is non-cash.

(b)

Charges represent $229 of non-cash share-based compensation expense

associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan. (c) Charges

represent $16,978 of costs associated with strategic acquisition and divestiture activities including the acquisitions of Greenray and Flowserve Al Mansoori Services Company (FAMCO) within FPD and Trillium Valves within FCD.

(d)

Charges represent non-cash amortization of intangible assets.

(e)

Adjustment represents a $27,700 gain recognized in Net earnings from affiliates on the remeasurement of our

previously held equity interest in FAMCO.

Flowserve Pumps Division

Six Months Ended June 30, 2025

Gross Profit

Selling,

General &

Administrative

Expense

Operating

Income

Reported

567,691

280,080

299,259

Reported as a percent of sales

35.4

17.5

18.7

Realignment charges (a)

4,867

(751

)

5,618

Discrete items (b)

(224

)

287

Adjusted

572,621

279,105

305,164

Adjusted as a percent of sales

35.7

17.4

19.0

Flow Control Division

Six Months Ended June 30, 2025

Gross Profit

Selling,

General &

Administrative

Expense

Operating

Income

Reported

207,881

138,627

69,254

Reported as a percent of sales

28.3

18.8

9.4

Realignment charges (a)

10,319

3,625

6,694

Acquisition related (c)

752

(4,471

)

5,223

Purchase accounting step-up and intangible asset amortization (d)

6,117

(2,600

)

8,717

Discrete items (b)

(163

)

172

Adjusted

225,078

135,018

90,060

Adjusted as a percent of sales

30.6

18.4

12.2

Note: Amounts may not calculate due to rounding

(a)

Charges represent realignment costs incurred as a result of realignment programs of which $3,000 is non-cash.

(b)

Charge represents share-based compensation expense associated with a one-time discretionary restricted stock

grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

(c)

Charge represents acquisition and integration-related costs associated with the MOGAS acquisition.

(d)

Charge represents amortization of step-up in value of acquired inventories and acquisition related intangible

assets associated with the MOGAS acquisition.

Segment Results

(Unaudited)

Flowserve Pumps Division

(dollars in millions)

Q2 2026

Q2 2025

Change

YTD 2026

YTD 2025

Change

Organic Bookings

26.8

5.0

Acquisition / Divestiture Impact

1.1

0.7

FX Impact (a)

1.7

2.9

Total Bookings (b)

938

724

29.6

1,711

1,576

8.6

Organic Sales

(3.2

(6.3

Acquisition / Divestiture Impact

1.4

0.9

FX Impact (a)

1.2

2.7

Reported Sales (b)

814

819

(0.6

1,559

1,602

(2.7

Gross Margin

36.4

36.5

(10 bps

)

36.3

35.4

90 bps

Adjusted Gross Margin (c)

37.8

36.8

100 bps

37.8

35.7

210 bps

Operating Margin

22.3

19.9

240 bps

19.7

18.7

100 bps

Adjusted Operating Margin (d)

21.3

20.3

100 bps

20.2

19.0

120 bps

Backlog (b)

2,204

1,981

11.3

2,204

1,981

11.3

Flowserve Control Division

(dollars in millions)

Q2 2026

Q2 2025

Change

YTD 2026

YTD 2025

Change

Organic Bookings

17.3

6.9

Acquisition / Divestiture Impact

0.0

FX Impact (a)

0.3

1.4

Total Bookings (b)

417

355

17.6

791

730

8.3

Organic Sales

(3.8

(7.9

Acquisition / Divestiture Impact

0.0

FX Impact (a)

0.0

1.0

Reported Sales (b)

357

371

(3.8

685

736

(6.9

Gross Margin

24.8

29.0

(420 bps

)

28.8

28.3

50 bps

Adjusted Gross Margin (c)

31.1

30.8

30 bps

33.1

30.6

250 bps

Operating Margin

3.1

10.2

(710 bps

)

7.7

9.4

(170 bps

)

Adjusted Operating Margin (d)

12.6

12.2

40 bps

14.2

12.2

200 bps

Backlog (b)

1,154

881

30.9

1,154

881

30.9

(a)

Constant foreign exchange (FX) represents the year-over-year variance assuming 2026 results at 2025 FX rates

(b)

Bookings, sales, and backlog do not include interdivision eliminations

(c)

Adjusted gross margin is a non-GAAP financial measure. Adjusted gross

margin is calculated by dividing adjusted gross profit by sales. Adjusted gross profit is derived by excluding realignment charges and other specific discrete items. See the Segment Reconciliation of Non-GAAP

Financial Measures to the Most Directly Comparable GAAP Financial Measure (unaudited)

(d)

Adjusted operating margin excludes realignment charges and other specific discrete items

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Amounts in thousands, except par value)

June 30,

2026

December 31,

2025

ASSETS

Current assets:

Cash and cash equivalents

731,007

760,183

Accounts receivable, net of allowance for expected credit losses of $89,364 and $83,094,

respectively

1,056,706

1,029,095

Contract assets, net of allowance for expected credit losses of $5,871 and $6,028,

respectively

340,234

322,472

Inventories

832,537

789,898

Prepaid expenses and other

158,642

141,237

Total current assets

3,119,126

3,042,885

Property, plant, and equipment, net of accumulated depreciation of $1,233,503 and $1,224,912,

respectively

595,446

566,751

Operating lease

right-of-use asset, net

170,716

166,031

Goodwill

1,744,877

1,391,988

Deferred taxes

160,395

156,250

Other intangible assets, net

345,231

198,475

Other assets, net of allowance for expected credit losses of $66,209 and $66,047,

respectively

184,497

185,820

Total assets

6,320,288

5,708,200

LIABILITIES AND EQUITY

Current liabilities:

Accounts payable

543,323

554,243

Accrued liabilities

561,747

587,475

Contract liabilities

293,864

274,669

Debt due within one year

12,741

49,868

Operating lease liabilities

37,330

35,630

Total current liabilities

1,449,005

1,501,885

Long-term debt due after one year

2,122,423

1,525,210

Operating lease liabilities

145,851

149,565

Retirement obligations and other liabilities Contingencies (See Note 12)

275,552

277,216

Shareholders’ equity:

Preferred shares, $1.00 par value

—

Shares authorized — 1,000, no shares issued

Common shares, $1.25 par value

220,991

Shares authorized — 305,000

Shares issued — 176,793 and 176,793, respectively

Capital in excess of par value

494,925

508,890

Retained earnings

4,385,914

4,261,977

Treasury shares, at cost — 49,532 and 49,763 shares, respectively

(2,241,970

)

(2,231,685

)

Deferred compensation obligation

7,015

6,629

Accumulated other comprehensive loss

(607,263

)

(575,405

)

Total Flowserve Corporation shareholders’ equity

2,259,612

2,191,397

Noncontrolling interests

67,845

62,927

Total equity

2,327,457

2,254,324

Total liabilities and equity

6,320,288

5,708,200

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Six Months Ended

June 30,

(Amounts in thousands)

2026

2025

Cash flows — Operating activities:

Net earnings, including noncontrolling interests

187,954

167,681

Adjustments to reconcile net earnings to net cash provided by operating activities

Depreciation

40,414

38,695

Amortization of intangible and other assets

7,903

9,589

(Gain) on remeasurement of previously held equity interest

(27,700

)

—

Stock-based compensation

20,595

18,822

Foreign currency, asset write downs and other non-cash

adjustments

(17,314

)

(6,211

)

Change in assets and liabilities:

Accounts receivable, net

6,859

(22,631

)

Inventories

(4,294

)

14,208

Contract assets, net

(11,161

)

(28,930

)

Prepaid expenses and other assets, net

17,984

13,589

Accounts payable

(52,347

)

(10,414

)

Contract liabilities

(10,439

)

(15,254

)

Accrued liabilities

(80,798

)

(84,466

)

Retirement obligations and other liabilities

9,801

2,196

Net deferred taxes

(1,291

)

7,338

Net cash flows provided by operating activities

86,166

104,212

Cash flows — Investing activities:

Capital expenditures

(33,807

)

(28,340

)

Payments for acquisitions, net of cash acquired

(517,735

)

—

Proceeds from disposal of assets

9,865

867

Affiliate investment activity

(2,000

)

—

Net cash flows (used) by investing activities

(543,677

)

(27,473

)

Cash flows — Financing activities:

Proceeds from issuance of senior notes

499,320

—

Payments on term loan

(77,875

)

(18,750

)

Proceeds from long-term debt

74,750

—

Payment of deferred loan costs

(4,893

)

—

Proceeds under revolving credit facility

150,000

50,000

Payments under revolving credit facility

(100,000

)

(50,000

)

Proceeds under other financing arrangements

998

3,072

Payments under other financing arrangements

(5,266

)

(1,231

)

Repurchases of common shares

(25,000

)

(52,797

)

Payments related to tax withholding for stock-based compensation

(23,011

)

(11,337

)

Payments of dividends

(54,838

)

(55,209

)

Contingent consideration payment related to acquired business

—

(15,000

)

Other

529

(3,192

)

Net cash flows (used) provided by financing activities

434,714

(154,444

)

Effect of exchange rate changes on cash and cash equivalents

(6,379

)

31,467

Net change in cash and cash equivalents

(29,176

)

(46,238

)

Cash and cash equivalents at beginning of period

760,183

675,441

Cash and cash equivalents at end of period

731,007

629,203

About Flowserve:

Flowserve Corporation is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 50 countries, the

Company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the Company’s website at www.flowserve.com.

Flowserve Contacts

Investor Contacts:

investorrelations@flowserve.com

Brian Ezzell, Vice President, Investor Relations, Treasurer & Corporate Finance

Olivia Webb, Director, Investor Relations

Media Contact: media@flowserve.com

Safe Harbor

Statement: This news release 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 of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, “may,” “should,” “expects,” “could,” “intends,” “plans,”

“anticipates,” “estimates,” “believes,” “forecasts,” “predicts” or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings

forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements

are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in

such forward-looking statements, and include, without limitation, the following: economic, political and other risks associated with our international operations, including military actions, trade embargoes, blockades or other closures of major

trade lanes, epidemics or pandemics and changes to tariffs or trade agreements that could affect customer markets, particularly North African, Latin American, Asian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; global supply chain disruptions and the

current inflationary environment

could adversely affect the efficiency of our manufacturing and increase the cost of providing our products to customers; a portion of our bookings may not lead to completed sales, and our ability

to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability

to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from any restructuring and realignment initiatives, our business could be adversely affected;

the substantial dependence of our sales on the success of the energy, chemical, power generation and general industries; the adverse impact of volatile raw materials prices on our products and operating margins; the impact of public health

emergencies, such as outbreaks of epidemics, pandemics, and contagious diseases, on our business and operations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; potential adverse

effects resulting from the implementation of new tariffs and related retaliatory actions and changes to or uncertainties related to tariffs and trade agreements; our exposure to fluctuations in foreign currency exchange rates, including in

hyperinflationary countries such as Argentina; potential adverse consequences resulting from litigation to which we are a party; expectations regarding acquisitions and the integration of acquired businesses; the potential adverse impact of an

impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which

we operate; if we are not able to maintain our competitive position by successfully developing and introducing new products and integrate new technologies, including artificial intelligence and machine learning; environmental compliance costs and

liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the United States, as well as in foreign countries; obligations under our

defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or

fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to

service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the

accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to

update any forward-looking statement.

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP).

However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and

results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating,

planning and compensation decisions and in evaluating the Company’s performance. Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies,

should be viewed in addition to, and not as a substitute for, the Company’s reported results prepared in accordance with GAAP.

###

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Document and Entity Information

Jul. 29, 2026

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Entity Address, City or Town

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Entity Address, State or Province

Entity Address, Postal Zip Code

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City Area Code

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Local Phone Number

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dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration