Flowserve Corp

Latest Results (12.05.2026):

Flowserve Corp reported results for the fourth quarter of 2025 and full year 2025 showing strong underlying performance offset by one‑time items: Q4 total bookings were $1.21 billion and reported sales were $1.222 billion (+3.5% year-over-year); Q4 reported EPS was ($0.23) but adjusted EPS was $1.11; full‑year adjusted EPS was $3.64 and cash from operations totaled $505.9 million. The company also initiated 2026 guidance and introduced 2030 financial targets while announcing the planned acquisition of Trillium Flow Technologies’ Valves Division.

Bookings & Sales

In Flowserve Corp’s fourth quarter of 2025 total bookings were $1,208.9 million (up 2.9% vs. Q4 2024), with aftermarket bookings up ~10% to $682.3 million. Reported Q4 sales were $1,222.2 million (+3.5% vs. prior year). Full‑year 2025 bookings were $4.713 billion, including roughly $400 million of nuclear awards.

Earnings & Margins

Q4 2025 reported operating margin was 3.5%, which included a one‑time asbestos divestiture charge; adjusted operating margin for Q4 was 16.8%. Q4 reported EPS was ($0.23) and adjusted EPS was $1.11. For the full year, adjusted operating margin was 14.8% and adjusted EPS was $3.64 (reported diluted EPS was $2.64).

Cash Flow & Capital Returns

Flowserve Corp generated $505.9 million of cash from operations in 2025. The company returned $365 million to shareholders during the year through dividends and share repurchases and ended 2025 with $760.2 million of cash and cash equivalents.

One‑time Items & Adjustments

Q4 results were materially affected by a $140.1 million loss on the divestiture of asbestos‑related assets and liabilities and a $199 million cash contribution to the divested entity (which drove a Q4 cash‑from‑ops impact of roughly ($0.2) million). Full‑year cash from operations also reflected a one‑time merger termination fee (net) and other discrete items; adjusted metrics exclude these items.

2026 Guidance & 2030 Targets

Flowserve Corp initiated 2026 guidance calling for total sales growth of 5%–7% (organic +1% to +3%; acquisitions ≈+300 bps; FX ≈+100 bps) and adjusted EPS of $4.00–$4.20. The company set 2030 targets of mid‑single digit organic sales CAGR (2025–2030), ~20% adjusted operating margin by 2030, and double‑digit adjusted EPS CAGR.

M&A — Trillium Valves Division

The company announced a definitive agreement to acquire Trillium Flow Technologies’ Valves Division (excludes French operations). The acquisition is expected to close mid‑year 2026 and, per Flowserve’s guidance, should be roughly neutral to 2026 adjusted EPS (including financing interest).

Segment Performance

Pumps division continued to drive margins and growth in Q4 2025 (FPD bookings $883.6M, sales $833.0M, adjusted operating margin ~21.0%). Flow Control also improved profitability (FCD bookings $330.3M, sales $391.5M) with notable year‑over‑year operating income gains across both segments.

Backlog & Balance Sheet

Backlog at December 31, 2025 was $2,867.8 million (up ~2.8% year‑over‑year). Total assets were $5.708 billion and long‑term debt was $1.525 billion; the company ended the year with a strengthened cash position and room to execute on the announced acquisition and return capital to shareholders.