# EDGAR Filing Document

**Accession Number:** 0000030625
**File Stem:** 0001193125-26-191527
**Filing Date:** 2026-4
**Character Count:** 49164
**Document Hash:** 3a1c238c83071e8a0146760b9d41c169
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-191527.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001193125-26-191527

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260429

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FLOWSERVE CORP
- **CENTRAL INDEX KEY:** 0000030625
- **STANDARD INDUSTRIAL CLASSIFICATION:** PUMPS & PUMPING EQUIPMENT [3561]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 310267900
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-13179
- **FILM NUMBER:** 26915935

**BUSINESS ADDRESS:**
- **STREET 1:** 5215 N. O'CONNOR BLVD.
- **STREET 2:** SUITE 700
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75039
- **BUSINESS PHONE:** 9724436500

**MAIL ADDRESS:**
- **STREET 1:** 5215 N. O'CONNOR BLVD.
- **STREET 2:** SUITE 700
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75039

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DURCO INTERNATIONAL INC
- **DATE OF NAME CHANGE:** 19970508

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DURIRON CO INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** THE DURIRON CO INC
- **DATE OF NAME CHANGE:** 19900509

?xml version='1.0' encoding='ASCII'? 8-K

### 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**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **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**<br> **Symbol(s)** | **Name of each exchange**<br> **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 <u>http://www.flowserve.com</u> 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.](d866371dex991.htm) |
| 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 | FLOWSERVE CORPORATION |
| Dated: April 29, 2026 | By: | /s/ Amy B. Schwetz |
|  |  | Amy B. Schwetz |
|  |  | Senior Vice President, Chief Financial Officer |

---

## Exhibit 99.1

**EXHIBIT 99.1**![LOGO](g866371dsp1.jpg)

**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:***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• First quarter bookings of $1.15 billion, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Over $110 million of nuclear bookings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• $680 million of aftermarket bookings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• First quarter operating margin of 11.2% decreased 30 basis points and adjusted<sup>1</sup> operating margin<sup>2</sup> of 15.1% expanded 230 basis points compared to the prior year period

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• First quarter reported EPS of $0.64 and adjusted EPS<sup>3</sup> of
$0.85

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reaffirmed full-year 2026 adjusted EPS guidance<sup>3</sup> of $4.00 to
$4.20

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 | $1148.2 | $1226.4 | (6.4%) |
|  Organic Sales<sup>4</sup> |  |  | (10.5%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition/Divestiture Impact |  |  | 20 bps |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange Impact |  |  | 360 bps |
|  Reported Sales | $1068.3 | $1144.5 | (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 | $2945.9 | $2902.9 | 1.5% |

---

***2026 Guidance<sup>3</sup>:***

The Company updated 2026 guidance:

---

| | | |
|:---|:---|:---|
|  | Prior | **Current** |
|  Organic Sales Growth | +1% to +3% | **(1%) to +2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impact From Acquisition/Divestiture | Approx. +300 bps | **Approx. +300 bps** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impact From Foreign Exchange Translation | Approx. +100 bps | **Approx. +100 bps** |
|  Total Sales Growth | +5% to +7% | **+3% to +6%** |
|  Adjusted EPS | $4.00 to $4.20 | **$4.00 to $4.20** |
|  Net Interest Expense | Approx. $80 million | **Approx. $85 million** |
|  Adjusted Tax Rate | 21% to 22% | **21% to 22%** |
|  Capital Expenditures | $90 million to<br>$100 million | **$90 million to<br>$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 <u>Investors page</u>.

**Footnotes** 

<sup>1</sup> 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. 

<sup>2</sup> Adjusted operating margin is calculated by dividing adjusted operating income by sales. Adjusted operating income is derived by excluding the adjusted items.

<sup>3</sup> 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. 

<sup>4</sup> 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,** | **Three Months Ended March 31,** |
| (Amounts in thousands, except per share data) | **2026** | **2025** |
|  Sales | $1068269 | $1144543 |
|  Cost of sales | (688428) | (775209) |
|  Gross profit | 379841 | 369334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Selling, general and administrative expense | (263400) | (243177) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net earnings from affiliates | 2991 | 5732 |
|  Operating income | 119432 | 131889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense | (20431) | (19175) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income | 1500 | 1745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other income (expense), net | 6999 | (17259) |
|  Earnings before income taxes | 107500 | 97200 |
|  Provision for income taxes | (21131) | (17743) |
|  Net earnings, including noncontrolling interests | 86369 | 79457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Net earnings attributable to noncontrolling interests | (4688) | (5552) |
|  Net earnings attributable to Flowserve Corporation | $81681 | $73905 |
|  Net earnings per share attributable to Flowserve Corporation common shareholders: | Net earnings per share attributable to Flowserve Corporation common shareholders: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic | $0.64 | $0.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diluted | 0.64 | 0.56 |
|  Weighted average shares – basic | 127493 | 131566 |
|  Weighted average shares – diluted | 128620 | 132670 |

---

------

**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<br>Profit** | **Selling,<br>General &<br>Administrative<br>Expense** | **Operating<br>Income** | **Other Income<br>(Expense), Net** | **Provision For<br>(Benefit From)<br>Income Taxes** | **Net Earnings<br>(Loss)** | **Effective<br>Tax Rate** | **Diluted<br>EPS** |
|  **Reported** | $**379841** | $**263400** | $**119432** | $**6999** | $**21131** | $**81681** | **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) | 16502 | (12465) | 28967 |  | 4443 | 24524 | 15.3% | 0.19 |
|  Acquisition and divestiture<br>related (b)(c) |  | (8588) | 8588 |  | 2150 | 6438 | 25.0% | 0.05 |
|  Purchase accounting step-up and intangible asset amortization (d) | 1013 | (2245) | 3258 |  | 523 | 2735 | 16.1% | 0.02 |
|  Discrete items (e)(f)(g) | 31 | (674) | 705 | 1500 | 519 | 1686 | 23.5% | 0.01 |
|  Below-the-line foreign exchange impacts (h) |  |  |  | (9038) | (1601) | (7437) | 17.7% | (0.06) |
|  **Adjusted** | $**397387** | $**239428** | $**160950** | $**(539)** | $**27165** | $**109627** | **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<br>Profit** | **Selling,<br>General &<br>Administrative<br>Expense** | **Operating<br>Income** | **Other Income<br>(Expense), Net** | **Provision For<br>(Benefit From)<br>Income Taxes** | **Net Earnings<br>(Loss)** | **Effective<br>Tax Rate** | **Diluted<br>EPS** |
|  **Reported** | $**369334** | $**243177** | $**131889** | $**(17259)** | $**17743** | $**73905** | **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) | 10015 | 1304 | 8711 |  | 1871 | 6840 | 21.5% | 0.05 |
|  Acquisition related (b) |  | (1281) | 1281 |  | 301 | 980 | 23.5% | 0.01 |
|  Purchase accounting step-up and intangible asset amortization (c) | 3475 | (1300) | 4775 |  | 1361 | 3414 | 28.5% | 0.03 |
|  Discrete items (d)(e) | 33 | (383) | 416 | 1500 | 451 | 1465 | 23.5% | 0.01 |
|  Below-the-line foreign exchange impacts (f) |  |  |  | 11373 | 2445 | 8928 | 21.5% | 0.07 |
|  **Adjusted** | $**382857** | $**241517** | $**147072** | $**(4386)** | $**24172** | $**95532** | **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
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.

------

**SEGMENT INFORMATION** 

**(Unaudited)** 

---

| | | |
|:---|:---|:---|
| **FLOWSERVE PUMPS DIVISION** | **Three Months Ended March 31,** | **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,** | **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<br>March 31, 2026** | **Gross Profit** | **Selling, General**<br>**&<br>Administrative<br>Expense** | **Operating<br>Income** |
|  **Reported** | $**269927** | $**147168** | $**125751** |
|  *Reported as a percent of sales* | *36.3 %* | *19.8 %* | *16.9 %* |
|  Realignment charges (a) | 10088 | (4141) | 14229 |
|  Discrete items (b) | 24 | (48) | 72 |
|  Acquisition related (c) |  | (39) | 39 |
|  Purchase accounting step-up and intangible asset amortization (d) | 1013 | (945) | 1958 |
|  **Adjusted** | $**281052** | $**141995** | $**142049** |
|  *Adjusted as a percent of sales* | *37.7 %* | *19.1 %* | *19.1 %* |

---

**Flow Control Division** 

---

| | | | |
|:---|:---|:---|:---|
| **Three Months Ended<br>March 31, 2026** | **Gross Profit** | **Selling, General**<br>**&<br>Administrative<br>Expense** | **Operating<br>Income** |
|  **Reported** | $**108947** | $**67231** | $**41716** |
|  *Reported as a percent of sales* | *33.3 %* | *20.5 %* | *12.7 %* |
|  Realignment charges (a) | 6414 | 5021 | 1393 |
|  Discrete items (b) | 5 | (55) | 60 |
|  Acquisition related (c) |  | (7738) | 7738 |
|  Purchase accounting step-up and intangible asset amortization (d) |  | (1300) | 1300 |
|  **Adjusted** | $**115366** | $**63159** | $**52207** |
|  *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<br>March 31, 2025** | **Gross Profit** | **Selling,<br>General &<br>Administrative<br>Expense** | **Operating<br>Income** |
|  **Reported** | $**268462** | $**137680** | $**136515** |
|  *Reported as a percent of sales* | *34.3 %* | *17.6 %* | *17.4 %* |
|  Realignment charges (a) | 2979 | 998 | 1981 |
|  Discrete items (b) | 28 | (125) | 153 |
|  **Adjusted** | $**271469** | $**138553** | $**138649** |
|  *Adjusted as a percent of sales* | *34.7 %* | *17.7 %* | *17.7 %* |

---

---

| | | | |
|:---|:---|:---|:---|
| **Three Months Ended<br>March 31, 2025** | **Gross Profit** | **Selling,<br>General &<br>Administrative<br>Expense** | **Operating<br>Income** |
|  **Reported** | $**100187** | $**68705** | $**31482** |
|  *Reported as a percent of sales* | *27.5 %* | *18.9 %* | *8.6 %* |
|  Realignment charges (a) | 7102 | 121 | 6981 |
|  Acquisition related (c) |  | (1281) | 1281 |
|  Purchase accounting step-up and intangible asset amortization (d) | 3475 | (1300) | 4775 |
|  Discrete items (b) | 4 | (64) | 68 |
|  **Adjusted** | $**110768** | $**66181** | $**44587** |
|  *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%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition / Divestiture Impact |  |  | 0.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FX Impact (a) |  |  | 4.0% |
|  Total Bookings (b) | $774 | $853 | (9.3%) |
|  Organic Sales |  |  | (9.5%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition / Divestiture Impact |  |  | 0.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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) | $2076 | $2019 | 2.8% |

---

**Flowserve Control Division** 

---

| | | | |
|:---|:---|:---|:---|
| (dollars in millions) | **Q1 2026** | **Q1 2025** | **Change** |
|  Organic Bookings |  |  | (2.9%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition / Divestiture Impact |  |  | 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FX Impact (a) |  |  | 2.4% |
|  Total Bookings (b) | $374 | $376 | (0.5%) |
|  Organic Sales |  |  | (12.1%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition / Divestiture Impact |  |  | 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | $792354 | $760183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable, net of allowance for expected credit losses of $84,394 and $83,094, respectively | 958985 | 1029095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract assets, net of allowance for expected credit losses of $6,331 and $6,028, respectively | 357487 | 322472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventories | 809583 | 789898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses and other | 136204 | 141237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current assets | 3054613 | 3042885 |
|  Property, plant and equipment, net of accumulated depreciation of $1,219,307 and $1,224,912, respectively | 559223 | 566751 |
|  Operating lease right-of-use assets, net | 165222 | 166031 |
|  Goodwill | 1381437 | 1391988 |
|  Deferred taxes | 156422 | 156250 |
|  Other intangible assets, net | 194442 | 198475 |
|  Other assets, net of allowance of expected credit losses of $66,091 and $66,047, respectively | 221801 | 185820 |
|  Total assets | $5733160 | $5708200 |
|  **LIABILITIES AND EQUITY** |  |  |
|  Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | $520392 | $554243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued liabilities | 499611 | 587475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract liabilities | 269165 | 274669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt due within one year | 52972 | 49868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating lease liabilities | 35466 | 35630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current liabilities | 1377606 | 1501885 |
|  Long-term debt due after one year | 1662000 | 1525210 |
|  Operating lease liabilities | 139887 | 149565 |
|  Retirement obligations and other liabilities | 273415 | 277216 |
|  Shareholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred shares, $1.00 par value |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized – 1,000, no shares issued |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common shares, $1.25 par value |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized – 305,000 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares issued – 176,793 and 176,793, respectively | 220991 | 220991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital in excess of par value | 486518 | 508890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained earnings | 4315243 | 4261977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Treasury shares, at cost – 49,215 and 49,763 shares, respectively | (2218764) | (2231685) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred compensation obligation | 6676 | 6629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulated other comprehensive loss | (598359) | (575405) |
|  Total Flowserve Corporation shareholders' equity | 2212305 | 2191397 |
|  Noncontrolling interests | 67947 | 62927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total equity | 2280252 | 2254324 |
|  Total liabilities and equity | $5733160 | $5708200 |

---

------

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS** 

**(Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| (Amounts in thousands) | **2026** | **2025** |
|  **Cash flows – Operating activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net earnings, including noncontrolling interests | $86369 | $79457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adjustments to reconcile net earnings to net cash (used) provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation | 20329 | 18831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of intangible and other assets | 3731 | 5571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock-based compensation | 10716 | 8656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency, asset write downs and other non-cash adjustments | (14525) | (7350) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable, net | 63517 | (50679) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventories | (24604) | 8804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract assets, net | (38454) | (9447) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses and other assets, net | (8940) | 6669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | (32385) | (16861) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract liabilities | (3722) | (3648) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued liabilities | (110074) | (89467) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retirement obligations and other liabilities | 5027 | (5448) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net deferred taxes | (65) | 4978 |
|  Net cash flows (used) by operating activities | (43080) | (49934) |
|  **Cash flows – Investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital expenditures | (16899) | (11738) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from disposal of assets | 9719 | 462 |
|  Net cash flows (used) by investing activities | (7180) | (11276) |
|  **Cash flows – Financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments on term loan | (9375) | (9375) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds under revolving credit facility | 150000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds under other financing arrangements | 391 | 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments under other financing arrangements | (2610) | (101) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Repurchases of common shares |  | (21088) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments related to tax withholding for stock-based compensation | (22635) | (11063) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments of dividends | (26722) | (27617) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contingent consideration payment related to acquired business |  | (15000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | (529) | (138) |
|  Net cash flows (used) provided by financing activities | 88520 | (84232) |
|  Effect of exchange rate changes on cash and cash equivalents | (6089) | 10805 |
|  Net change in cash and cash equivalents | 32171 | (134637) |
|  Cash and cash equivalents at beginning of period | 760183 | 675441 |
|  Cash and cash equivalents at end of period | $792354 | $540804 |

---

------

***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 <u>www.flowserve.com</u>.

**Flowserve Contacts** 

Investor Contacts:

Brian Ezzell, Vice President, Investor Relations, Treasurer & Corporate Finance (469) 420-3222 <br> Olivia Webb, Director, Investor Relations (469) 420-3223

Media Contact: <u>media@flowserve.com</u>

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.

###