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EX - 99.1 2 a52422178ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 • • • • Flowserve Corporation Reports First Quarter 2021 Results Strong sequential bookings growth with $ 945 million of bookings , representing an increase of over 16 % compared to the prior three - quarter's average Significant operating income improvement with reported and adjusted operating income up 132 % and 41 % , respectively Flowserve 2.0 transformation program continued to drive results , including a 250 basis point improvement in adjusted operating margin despite 4.1 % revenue decrease GAAP EPS increased over 22 % and Adjusted EPS increased over 47 % • Retired approximately $ 410 million of long - term Euro - denominated debt • Raised full - year 2021 Revenue and Adjusted EPS guidance , reaffirmed all other metrics DALLAS -- ( BUSINESS WIRE ) -- May 3 , 2021 -- Flowserve Corporation ( NYSE : FLS ) , a leading provider of flow control products and services for the global infrastructure markets , today announced its financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Highlights ( all comparisons to the 2020 first quarter , unless otherwise noted ) 1 • Reported Earnings Per Share ( EPS ) of $ 0.11 and Adjusted EPS² of $ 0.28 ° Reported EPS includes after - tax adjusted items of $ 22.6 million , including realignment costs , below - the - line foreign exchange impacts and debt retirement costs • Total bookings were $ 945.0 million , down 3.3 % , or 6.0 % on a constant currency basis and up 14.5 % on a sequential basis 。 Original equipment bookings were $ 487.7 million , or 52 % of total bookings , up 2.7 % , or down 0.1 % on a constant currency basis and up 20.5 % on a sequential basis 。 Aftermarket bookings were $ 457.3 million , or 48 % of total bookings , down 8.9 % , or 11.5 % on a constant currency basis and up 8.8 % on a sequential basis Sales were $ 857.3 million , down 4.1 % , or 7.0 % on a constant currency basis 。 Original equipment sales were $ 406.9 million , down 9.9 % , or 13.1 % on a constant currency basis 。 Aftermarket sales were $ 450.4 million , up 1.9 % , or down 0.9 % on a constant currency basis