Form 8-K

8-K — FLOWSERVE CORP

Accession: 0001193125-26-191527

Filed: 2026-04-29

Period: 2026-04-29

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 — d866371d8k.htm (Primary)

EX-99.1 (d866371dex991.htm)

GRAPHIC (g866371dsp1.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: d866371d8k.htm · Sequence: 1

8-K

FLOWSERVE CORP false 0000030625 0000030625 2026-04-29 2026-04-29

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): April 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 April 29, 2026, Flowserve Corporation, a New York corporation (the “Company”), issued a press release announcing financial results for the first quarter ended March 31, 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 April 30, 2026, the Company will make a presentation about its financial and operating results for the first 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.

Forward-Looking Statements and Cautionary Statements

This Current Report includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act, 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 Current Report 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 and supply 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 Current Report are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.

Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit No.

Description

99.1

Press Release, dated April 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: April 29, 2026

By:

/s/ Amy B. Schwetz

Amy B. Schwetz

Senior Vice President, Chief Financial Officer

EX-99.1

Filename: d866371dex991.htm · Sequence: 2

EX-99.1

EXHIBIT 99.1

Flowserve Corporation Reports First Quarter 2026 Results

Flowserve Business System Delivers Strong Execution; Reaffirms Full-Year EPS Guidance

DALLAS, April 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 first quarter ended March 31, 2026.

Highlights:

•

First quarter bookings of $1.15 billion, including:

•

Over $110 million of nuclear bookings

•

$680 million of aftermarket bookings

•

First quarter operating margin of 11.2% decreased 30 basis points and adjusted1 operating margin2 of 15.1% expanded 230 basis points compared to the prior year period

•

First quarter reported EPS of $0.64 and adjusted EPS3 of

$0.85

•

Reported and adjusted EPS include a $0.19 benefit from recoverable IEEPA tariffs, offset by a ($0.06) impact from

a taxing authority matter in Latin America and a ($0.06) headwind related to ongoing conflict in the Middle East

•

Reaffirmed full-year 2026 adjusted EPS guidance3 of $4.00 to

$4.20

•

Supported Middle East customers with their critical infrastructure needs while prioritizing employee safety

Management Commentary:

“Our consistent execution of the Flowserve Business System resulted in strong margin and earnings expansion in the first quarter,” said Scott Rowe,

Flowserve’s President and Chief Executive Officer. “I am proud of our global team’s continued demonstration of discipline and resilience in a highly dynamic environment. As we navigate the effects of the Middle East conflict, our

priority remains employee safety while supporting our customers to ensure mission-critical flow control assets continue to operate.”

Rowe

continued, “Looking ahead to the balance of 2026, I am confident that our focus on operational excellence and consistent execution will enable us to successfully manage through the evolving environment and capitalize on near-term

opportunities. The underlying fundamentals of our business and end markets are robust, and we continue to maintain a favorable outlook supported by global megatrends and confidence in our proven growth strategy. Together, these factors position

us well to drive value creation for our shareholders while progressing toward our 2030 sales, earnings, and operating margin expansion targets.”

Key Figures (unaudited):

(dollars in millions, except per share)

Q1 2026

Q1 2025

Change

Original Equipment Bookings

467.9

537.8

(13.0

Aftermarket Bookings

680.3

688.6

(1.2

Total Bookings

1,148.2

1,226.4

(6.4

Organic Sales4

(10.5

Acquisition/Divestiture Impact

20 bps

Foreign Exchange Impact

360 bps

Reported Sales

1,068.3

1,144.5

(6.7

Operating Margin

11.2

11.5

(30 bps

)

Adjusted Operating Margin

15.1

12.8

230 bps

Earnings Per Share (EPS)

0.64

0.56

14.3

Adjusted Earnings Per Share (EPS)

0.85

0.72

18.1

Cash From Operations

43.1

)

49.9

)

6.8

Backlog

2,945.9

2,902.9

1.5

2026 Guidance3:

The Company updated 2026 guidance:

Prior

Current

Organic Sales Growth

+1% to +3%

(1%) to +2%

Impact From Acquisition/Divestiture

Approx. +300 bps

Impact From Foreign Exchange Translation

Approx. +100 bps

Total Sales Growth

+5% to +7%

+3% to +6%

Adjusted EPS

$4.00 to $4.20

Net Interest Expense

Approx. $80 million

Approx. $85 million

Adjusted Tax Rate

21% to 22%

Capital Expenditures

$90 million to

$100 million

$90 million to

$100 million

Full-year 2026 guidance assumes the acquisition of Trillium Flow Technologies’ Valves Division closes mid-year 2026 and, including incremental interest expense related to financing the acquisition, the acquisition will be roughly neutral to 2026 adjusted EPS. The guidance also assumes tariff rates in place as of

April 2026.

Webcast and Conference Call Instructions:

Flowserve will host its conference call to discuss first quarter results on Thursday, April 30, 2026, at 10:00 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 FX 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.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

Three Months Ended March 31,

(Amounts in thousands, except per share data)

2026

2025

Sales

1,068,269

1,144,543

Cost of sales

(688,428

)

(775,209

)

Gross profit

379,841

369,334

Selling, general and administrative expense

(263,400

)

(243,177

)

Net earnings from affiliates

2,991

5,732

Operating income

119,432

131,889

Interest expense

(20,431

)

(19,175

)

Interest income

1,500

1,745

Other income (expense), net

6,999

(17,259

)

Earnings before income taxes

107,500

97,200

Provision for income taxes

(21,131

)

(17,743

)

Net earnings, including noncontrolling interests

86,369

79,457

Less: Net earnings attributable to noncontrolling interests

(4,688

)

(5,552

)

Net earnings attributable to Flowserve Corporation

81,681

73,905

Net earnings per share attributable to Flowserve Corporation common

shareholders:

Basic

0.64

0.56

Diluted

0.64

0.56

Weighted average shares – basic

127,493

131,566

Weighted average shares – diluted

128,620

132,670

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 March 31, 2026

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

379,841

263,400

119,432

6,999

21,131

81,681

19.7

0.64

Reported as a percent of sales

35.6

24.7

11.2

0.7

2.0

7.6

Realignment charges (a)

16,502

(12,465

)

28,967

—

4,443

24,524

15.3

0.19

Acquisition and divestiture

related (b)(c)

—

(8,588

)

8,588

—

2,150

6,438

25.0

0.05

Purchase accounting step-up and intangible asset

amortization (d)

1,013

(2,245

)

3,258

—

523

2,735

16.1

0.02

Discrete items (e)(f)(g)

(674

)

705

1,500

519

1,686

23.5

0.01

Below-the-line

foreign exchange impacts (h)

—

(9,038

)

(1,601

)

(7,437

)

17.7

(0.06

)

Adjusted

397,387

239,428

160,950

(539

)

27,165

109,627

19.2

0.85

Adjusted as a percent of sales

37.2

22.4

15.1

-0.1

2.5

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 closure.

(b)

Charge represents $7,791 of acquisition and integration related costs associated with the Greenray and Trillium

Valves acquisitions.

(c)

Charge represents $797 of costs associated with other strategic acquisition and divestiture activities.

(d)

Charge represents amortization of acquisition related intangible assets associated with the MOGAS and Greenray

acquisitions.

(e)

Charge represents $277 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)

Charge includes $1,500 for a non-cash pension settlement accounting

loss incurred in conjunction with the freeze of our US Qualified pension plan.

(g)

Charge represents $428 of transaction costs related to the divestiture of our asbestos-related assets and

liabilities.

(h)

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 March 31, 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

369,334

243,177

131,889

(17,259

)

17,743

73,905

18.3

0.56

Reported as a percent of sales

32.3

21.2

11.5

-1.5

1.6

6.5

Realignment charges (a)

10,015

1,304

8,711

—

1,871

6,840

21.5

0.05

Acquisition related (b)

—

(1,281

)

1,281

—

301

980

23.5

0.01

Purchase accounting step-up and intangible asset

amortization (c)

3,475

(1,300

)

4,775

—

1,361

3,414

28.5

0.03

Discrete items (d)(e)

(383

)

416

1,500

451

1,465

23.5

0.01

Below-the-line

foreign exchange impacts (f)

—

11,373

2,445

8,928

21.5

0.07

Adjusted

382,857

241,517

147,072

(4,386

)

24,172

95,532

19.3

0.72

Adjusted as a percent of sales

33.5

21.1

12.8

-0.4

2.1

8.3

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 $416 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.

(e)

Charge includes $1,500 for a non-cash pension settlement accounting

loss incurred in conjunction with the freeze of our US Qualified pension plan.

(f)

Below-the-line foreign exchange

SEGMENT INFORMATION

(Unaudited)

FLOWSERVE PUMPS DIVISION

Three Months Ended March 31,

(Amounts in millions, except percentages)

2026

2025

Bookings

773.9

852.9

Sales

744.5

783.1

Gross profit

269.9

268.5

Gross profit margin

36.3

34.3

SG&A

147.2

137.7

Segment operating income

125.8

136.5

Segment operating income as a percentage of sales

16.9

17.4

FLOW CONTROL DIVISION

Three Months Ended March 31,

(Amounts in millions, except percentages)

2026

2025

Bookings

374.2

376.0

Sales

327.6

364.1

Gross profit

108.9

100.2

Gross profit margin

33.3

27.5

SG&A

67.2

68.7

Segment operating income

41.7

31.5

Segment operating income as a percentage of sales

12.7

8.6

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

March 31, 2026

Gross Profit

Selling, General

Administrative

Expense

Operating

Income

Reported

269,927

147,168

125,751

Reported as a percent of sales

36.3

19.8

16.9

Realignment charges (a)

10,088

(4,141

)

14,229

Discrete items (b)

(48

)

Acquisition related (c)

—

(39

)

Purchase accounting step-up and intangible asset

amortization (d)

1,013

(945

)

1,958

Adjusted

281,052

141,995

142,049

Adjusted as a percent of sales

37.7

19.1

Flow Control

Division

Three Months Ended

March 31, 2026

Gross Profit

Selling, General

Administrative

Expense

Operating

Income

Reported

108,947

67,231

41,716

Reported as a percent of sales

33.3

20.5

12.7

Realignment charges (a)

6,414

5,021

1,393

Discrete items (b)

(55

)

Acquisition related (c)

—

(7,738

)

7,738

Purchase accounting step-up and intangible asset

amortization (d)

—

(1,300

)

1,300

Adjusted

115,366

63,159

52,207

Adjusted as a percent of sales

35.2

19.3

15.9

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 closure.

(b)

Charge represents 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)

Charge represents acquisition and integration related costs associated with the Greenray and Trillium Valves

acquisitions within FPD and FCD, respectively.

(d)

Charge represents amortization of acquisition related intangible assets associated with the Greenray and MOGAS

acquisitions within FPD and FCD, respectively.

Three Months Ended

March 31, 2025

Gross Profit

Selling,

General &

Administrative

Expense

Operating

Income

Reported

268,462

137,680

136,515

Reported as a percent of sales

34.3

17.6

17.4

Realignment charges (a)

2,979

998

1,981

Discrete items (b)

(125

)

153

Adjusted

271,469

138,553

138,649

Adjusted as a percent of sales

34.7

17.7

Three Months Ended

March 31, 2025

Gross Profit

Selling,

General &

Administrative

Expense

Operating

Income

Reported

100,187

68,705

31,482

Reported as a percent of sales

27.5

18.9

8.6

Realignment charges (a)

7,102

121

6,981

Acquisition related (c)

—

(1,281

)

1,281

Purchase accounting step-up and intangible asset

amortization (d)

3,475

(1,300

)

4,775

Discrete items (b)

(64

)

Adjusted

110,768

66,181

44,587

Adjusted as a percent of sales

30.4

18.2

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.

Segment Results

(Unaudited)

Flowserve Pumps Division

(dollars in millions)

Q1 2026

Q1 2025

Change

Organic Bookings

(13.6

Acquisition / Divestiture Impact

0.3

FX Impact (a)

4.0

Total Bookings (b)

774

853

(9.3

Organic Sales

(9.5

Acquisition / Divestiture Impact

0.3

FX Impact (a)

4.3

Reported Sales (b)

745

783

(4.9

Gross Margin

36.3

34.3

200 bps

Adjusted Gross Margin (c)

37.7

34.7

300 bps

Operating Margin

16.9

17.4

(50 bps

)

Adjusted Operating Margin (d)

19.1

17.7

140 bps

Backlog (b)

2,076

2,019

2.8

Flowserve Control Division

(dollars in millions)

Q1 2026

Q1 2025

Change

Organic Bookings

(2.9

Acquisition / Divestiture Impact

0.0

FX Impact (a)

2.4

Total Bookings (b)

374

376

(0.5

Organic Sales

(12.1

Acquisition / Divestiture Impact

0.0

FX Impact (a)

2.1

Reported Sales (b)

328

364

(10.0

Gross Margin

33.3

27.5

580 bps

Adjusted Gross Margin (c)

35.2

30.4

480 bps

Operating Margin

12.7

8.6

410 bps

Adjusted Operating Margin (d)

15.9

12.2

370 bps

Backlog (b)

876

889

(1.5

(a)

Foreign exchange (FX) impact reflects a year-over-year change in foreign currency translation.

(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)

March 31,

December 31,

(Amounts in thousands, except par value)

2026

2025

ASSETS

Current assets:

Cash and cash equivalents

792,354

760,183

Accounts receivable, net of allowance for expected credit losses of $84,394 and $83,094,

respectively

958,985

1,029,095

Contract assets, net of allowance for expected credit losses of $6,331 and $6,028,

respectively

357,487

322,472

Inventories

809,583

789,898

Prepaid expenses and other

136,204

141,237

Total current assets

3,054,613

3,042,885

Property, plant and equipment, net of accumulated depreciation of $1,219,307 and $1,224,912,

respectively

559,223

566,751

Operating lease

right-of-use assets, net

165,222

166,031

Goodwill

1,381,437

1,391,988

Deferred taxes

156,422

156,250

Other intangible assets, net

194,442

198,475

Other assets, net of allowance of expected credit losses of $66,091 and $66,047,

respectively

221,801

185,820

Total assets

5,733,160

5,708,200

LIABILITIES AND EQUITY

Current liabilities:

Accounts payable

520,392

554,243

Accrued liabilities

499,611

587,475

Contract liabilities

269,165

274,669

Debt due within one year

52,972

49,868

Operating lease liabilities

35,466

35,630

Total current liabilities

1,377,606

1,501,885

Long-term debt due after one year

1,662,000

1,525,210

Operating lease liabilities

139,887

149,565

Retirement obligations and other liabilities

273,415

277,216

Shareholders’ equity:

Preferred shares, $1.00 par value

Shares authorized – 1,000, no shares issued

—

Common shares, $1.25 par value

Shares authorized – 305,000

Shares issued – 176,793 and 176,793, respectively

220,991

Capital in excess of par value

486,518

508,890

Retained earnings

4,315,243

4,261,977

Treasury shares, at cost – 49,215 and 49,763 shares, respectively

(2,218,764

)

(2,231,685

)

Deferred compensation obligation

6,676

6,629

Accumulated other comprehensive loss

(598,359

)

(575,405

)

Total Flowserve Corporation shareholders’ equity

2,212,305

2,191,397

Noncontrolling interests

67,947

62,927

Total equity

2,280,252

2,254,324

Total liabilities and equity

5,733,160

5,708,200

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Three Months Ended March 31,

(Amounts in thousands)

2026

2025

Cash flows – Operating activities:

Net earnings, including noncontrolling interests

86,369

79,457

Adjustments to reconcile net earnings to net cash (used) provided by operating

activities:

Depreciation

20,329

18,831

Amortization of intangible and other assets

3,731

5,571

Stock-based compensation

10,716

8,656

Foreign currency, asset write downs and other non-cash

adjustments

(14,525

)

(7,350

)

Change in assets and liabilities:

Accounts receivable, net

63,517

(50,679

)

Inventories

(24,604

)

8,804

Contract assets, net

(38,454

)

(9,447

)

Prepaid expenses and other assets, net

(8,940

)

6,669

Accounts payable

(32,385

)

(16,861

)

Contract liabilities

(3,722

)

(3,648

)

Accrued liabilities

(110,074

)

(89,467

)

Retirement obligations and other liabilities

5,027

(5,448

)

Net deferred taxes

(65

)

4,978

Net cash flows (used) by operating activities

(43,080

)

(49,934

)

Cash flows – Investing activities:

Capital expenditures

(16,899

)

(11,738

)

Proceeds from disposal of assets

9,719

462

Net cash flows (used) by investing activities

(7,180

)

(11,276

)

Cash flows – Financing activities:

Payments on term loan

(9,375

)

(9,375

)

Proceeds under revolving credit facility

150,000

—

Proceeds under other financing arrangements

391

150

Payments under other financing arrangements

(2,610

)

(101

)

Repurchases of common shares

—

(21,088

)

Payments related to tax withholding for stock-based compensation

(22,635

)

(11,063

)

Payments of dividends

(26,722

)

(27,617

)

Contingent consideration payment related to acquired business

—

(15,000

)

Other

(529

)

(138

)

Net cash flows (used) provided by financing activities

88,520

(84,232

)

Effect of exchange rate changes on cash and cash equivalents

(6,089

)

10,805

Net change in cash and cash equivalents

32,171

(134,637

)

Cash and cash equivalents at beginning of period

760,183

675,441

Cash and cash equivalents at end of period

792,354

540,804

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:

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

Finance

(469) 420-3222

Olivia Webb, Director, Investor Relations

(469) 420-3223

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.

###

GRAPHIC

Filename: g866371dsp1.jpg · Sequence: 6

Binary file (6580 bytes)

Download g866371dsp1.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 8

v3.26.1

Document and Entity Information

Apr. 29, 2026

Cover [Abstract]

Entity Registrant Name

FLOWSERVE CORP

Amendment Flag

false

Entity Central Index Key

0000030625

Document Type

8-K

Document Period End Date

Apr. 29, 2026

Entity Incorporation State Country Code

Entity File Number

1-13179

Entity Tax Identification Number

31-0267900

Entity Address, Address Line One

5215 N. O’Connor Blvd.

Entity Address, Address Line Two

Suite 700

Entity Address, City or Town

Irving

Entity Address, State or Province

Entity Address, Postal Zip Code

75039

City Area Code

(972)

Local Phone Number

443-6500

Security 12b Title

Common Stock, $1.25 Par Value

Trading Symbol

FLS

Security Exchange Name

NYSE

Written Communications

false

Soliciting Material

false

Pre Commencement Tender Offer

false

Pre Commencement Issuer Tender Offer

false

Entity Emerging Growth Company

false

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 2 such as Street or Suite number

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine2

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ 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_EntityCentralIndexKey

Namespace Prefix:

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