Q1 2026 Flowserve Corp Earnings Call Transcript
Key Points
- Flowserve Corp (FLS) reported a strong adjusted operating margin expansion of 230 basis points and adjusted earnings per share growth of 18% in the first quarter.
- The company maintained its full-year adjusted EPS outlook of $4 to $4.20, representing 13% growth over 2025.
- Flowserve Corp (FLS) achieved healthy aftermarket bookings of $680 million, marking the eighth consecutive quarter above $600 million.
- The company received more than $110 million in nuclear awards, highlighting nuclear and traditional power as strategic growth markets.
- Flowserve Corp (FLS) continues to make progress on its 80/20 program, simplifying its product offering and improving efficiency, which supports long-term sustainable growth.
- Bookings in the first quarter were $1.15 billion, down 6% from the prior year period, impacted by events in the Middle East.
- First quarter sales and earnings were negatively impacted by disruptions in the Middle East, driven by logistics shutdowns and customer site access issues.
- Original equipment bookings were lower due to a softer start in January and February and dynamics in the Middle East.
- The company faced a $0.06 negative impact from a taxing authority issue in Latin America related to prior years.
- Flowserve Corp (FLS) anticipates ongoing disruptions in the Middle East, which could continue to impact bookings and logistics timelines.
Good day, and welcome to the Flowserve first-quarter 2026 earnings call. Today's conference is being recorded.
At this time, I'd like to turn the conference over to Mr. Brian Ezzell, VP of Investor Relations. Please go ahead, sir.
Thank you, and good morning, everyone. Welcome to Flowserve's first-quarter 2026 business update. I'm joined by Scott Rowe, Flowserve's President and Chief Executive Officer; and Flowserve Chief Financial Officer, Amy Schwetz. Following Scott and Amy's prepared remarks, we'll open the call for questions.
Turning to slide 2. Our discussion will contain forward-looking statements that are based upon information available as of today. Actual results may differ due to risks and uncertainties. Refer to additional information, including our note on non-GAAP measures in our press release, earnings presentation and SEC filings, which are available on our website.
With that, I'll turn the call over to Scott.
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