Earnings release
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EXHIBIT 99.1 Flowserve Corporation Reports Third Quarter 2026 Results Flowserve Business System Delivers Strong Q3 Performance; Updates 2026 Guidance DALLAS, October 28, 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 third quarter ended September 30, 2026. Highlights: • Bookings of $1.38 billion, up 14% on a reported basis and 8% organically versus the prior-year period • Record aftermarket bookings of $728 million • Operating margin of 12.5% expanded 580 basis points and adjusted1 operating margin2 of 16.5% expanded 170 basis points compared to the prior-year period • Reported EPS of $0.81 and adjusted EPS3 of $1.07 • Raised the low end of full-year 2026 adjusted EPS3 guidance to $4.10 to $4.20 • Revised full-year 2026 organic sales guidance to down 2.5% to down 1.5% reflecting increasingly challenging conditions in the Middle East • Backlog of $3.5 billion, up 20% year over year, the largest backlog in Flowserve’s history Management Commentary: “Our teams delivered another quarter of meaningful bookings growth, adjusted operating margin expansion, and higher adjusted earnings per share while navigating ongoing Middle East disruption,” said Scott Rowe, Flowserve’s President and Chief Executive Officer. “The Flowserve Business System is helping us translate solid market demand into bookings growth and stronger profitability, with a clear focus on growth, execution, and customer service. The resilience and commitment of our associates around the globe remain instrumental in our ability to deliver for our customers and shareholders.” “With three quarters behind us, our year-to-date earnings performance and continued margin expansion support raising the low end of our adjusted EPS guidance range. At the same time, we are lowering our full-year sales growth outlook to reflect more challenging operating conditions in the Middle East, which are delaying customer activity and revenue conversion and are expected to impact fourth-quarter sales. Significant growth in our backlog, alongside healthy underlying demand across our end markets, reinforces our confidence in delivering mid-single digit organic sales CAGR through 2030, while continued operational progress supports our broader long-term financial targets. We remain focused on converting our growing backlog to sales, further reducing complexity in our operations, and continuing to deliver margin expansion to create shareholder value.”
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Key Figures (unaudited): (dollars in millions, except per share) Q3 2026 Q3 2025 Change YTD 2026 YTD 2025 Change Organic Bookings 7.7% 6.1% Acquisitions/Divestitures Impact 660 bps 270 bps Foreign Exchange Impact (20 bps) 150 bps Total Bookings $1,383.5 $1,213.0 14.1% $3,872.5 $3,511.2 10.3% Original Equipment Bookings $ 655.8 $ 559.9 17.1% $1,768.6 $1,549.0 14.2% Aftermarket Bookings $ 727.7 $ 653.1 11.4% $2,103.9 $1,962.2 7.2% Organic Sales4 (1.2%) (4.9%) Acquisitions/Divestitures Impact 670 bps 260 bps Foreign Exchange Impact (10 bps) 140 bps Reported Sales $1,237.8 $1,174.4 5.4% $3,475.2 $3,507.1 (0.9%) Operating Margin 12.5% 6.7% 580 bps 12.2% 10.2% 200 bps Adjusted Operating Margin 16.5% 14.8% 170 bps 15.6% 14.1% 150 bps Earnings Per Share (EPS) $ 0.81 $ 1.67 (51.5%) $ 2.21 $ 2.85 (22.5%) Adjusted Earnings Per Share (EPS) $ 1.07 $ 0.90 18.9% $ 2.87 $ 2.53 13.4% Cash From Operations $ 144.1 $ 401.8 ($ 257.7) $ 230.3 $ 506.1 ($ 275.8) Backlog $3,471.8 $2,896.1 19.9% $3,471.8 $2,896.1 19.9% 2026 Guidance3: The Company updated 2026 guidance: Prior Current Organic Sales Growth Approx. (1%) (2.5%) to (1.5%) Impact From Acquisitions/Divestitures Approx. +300 bps Approx. +350 bps Impact From Foreign Exchange Translation Approx. +100 bps Approx. +100 bps Total Sales Growth Approx. +3% +2% to +3% Adjusted EPS $4.05 to $4.20 $4.10 to $4.20 Net Interest Expense Approx. $85 million Approx. $85 million Adjusted Tax Rate 21% to 22% 21% to 22% Capital Expenditures Approx. $100 million Approx. $90 million 2
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The guidance assumes tariff rates in place as of October 1, 2026, and assumes increasingly challenging conditions in the Middle East, which have been impacted by armed conflict and geopolitical instability. Webcast and Conference Call Instructions: Flowserve will host its conference call to discuss third quarter results on Thursday, October 29, 2026, at 8:30 a.m. Eastern Time. The call can be accessed by shareholders and other interested parties on Flowserve’s Investor Relations website. Upcoming Investor Conferences: Flowserve announced its participation in the following upcoming investor conferences: • On Wednesday, November 11, 2026, Scott Rowe and Brian Ezzell, Senior Vice President and Chief Financial Officer, will participate in investor meetings at the Baird Global Industrial Conference. Additionally, Scott Rowe will participate in a fireside chat that will begin at 1:10 p.m. Central Time (2:10 p.m. Eastern Time). • On Wednesday, December 2, 2026, Brian Ezzell will participate in investor meetings as well as a fireside chat at the Goldman Sachs Industrials and Materials Conference that will begin at 11:30 a.m. Eastern Time. Shareholders and other interested parties can access the live webcasts of the fireside chats on Flowserve’s Investor Relations website. Replays of the webcasts will be available after the events. Footnotes 1 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. 2 Adjusted operating margin is calculated by dividing adjusted operating income by sales. Adjusted operating income is derived by excluding the adjusted items. 3 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 foreign exchange rates and fully diluted shares. Adjusted full-year 2026 EPS guidance excludes certain other discrete items which may arise during the year. 4 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. 3
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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended September 30, (Amounts in thousands) 2026 2025 Sales $ 1,237,773 $ 1,174,434 Cost of sales (823,393) (794,148) Gross profit 414,380 380,286 Selling, general and administrative expense (281,937) (305,152) Gain on sale of business 16,177 — Net earnings from affiliates 5,986 4,138 Operating income 154,606 79,272 Interest expense (26,641) (18,738) Interest income 2,362 792 Other (expense) income, net (8,184) 256,220 Earnings before income taxes 122,143 317,546 (Provision for) benefit from income taxes (15,090) (93,688) Net earnings, including noncontrolling interests 107,053 223,858 Less: net earnings attributable to noncontrolling interests (4,015) (4,276) Net earnings attributable to Flowserve Corporation $ 103,038 $ 219,582 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 0.81 $ 1.69 Diluted 0.81 1.67 Weighted average shares - basic 127,164 130,315 Weighted average shares - diluted 127,962 131,235 4
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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 September 30, 2026 GrossProfit Selling,General &AdministrativeExpense Gain on Saleof Business OperatingIncome Other Income(Expense), Net Provision For(Benefit From)Income Taxes Net Earnings(Loss) EffectiveTax Rate DilutedEPS Reported $414,380 $ 281,937 $ 16,177 $154,606 $ (8,184) $ 15,090 $ 103,038 12.4% 0.81 Reported as a percent of sales 33.5% 22.8% 1.3% 12.5% -0.7% 1.2% 8.3% Realignment charges (a) 25,971 (6,018) (16,177) 15,812 — (6,260) 22,072 -39.6% 0.17 Acquisition and divestiture related (b) — (5,275) — 5,275 — 1,241 4,034 23.5% 0.03 Amortization of intangible assets (c) 13,898 (6,765) — 20,663 — 2,874 17,789 13.9% 0.14 Discrete items (d) — (7,830) — 7,830 1,000 190 8,640 2.2% 0.07 Discrete tax items (e) — — — — — 23,072 (23,072) 0.0% (0.18 Below-the-line foreign exchange impacts (f) — — — — 5,132 442 4,690 8.6% 0.04 Adjusted $454,249 $ 256,049 $ — $204,186 $ (2,052) $ 36,649 $ 137,191 20.6% 1.07 Adjusted as a percent of sales 36.7% 20.7% 0.0% 16.5% -0.2% 3.0% 11.1% Note: Amounts may not calculate due to rounding (a) Charges represent realignment costs incurred as a result of realignment programs and includes the gain on divestiture of our PMV Automation business (PMV) within FCD. (b) Charges represent costs associated with strategic acquisition and divestiture activities including the acquisitions of Trillium Valves and Flowserve Al Mansoori Services Company (FAMCO), and the divestiture of PMV. (c) Charges represent non-cash amortization of intangible assets and step-up in value of acquired inventories. (d) Charge represents the $7,972 strategic acquisition of intellectual property within FPD, an immaterial adjustment to transaction costs related to the divestiture of our asbestos-related assets and liabilities that were adjusted out in a prior period and $1,000 for non-cash pension settlement accounting losses incurred in conjunction with the U.S. pension plan. (e) Discrete tax adjustment includes the impact from the release of a valuation allowance in Italy. (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 and includes the foreign exchange loss on the Blue Chip Swap Securities transaction. Three Months Ended September 30, 2025 GrossProfit Selling,General &AdministrativeExpense OperatingIncome Other Income(Expense), Net Provision For(Benefit From)Income Taxes Net Earnings(Loss) Effective TaxRate DilutedEPS Reported $380,286 $ 305,152 $ 79,272 $ 256,220 $ 93,688 $ 219,582 29.5% 1.67 Reported as a percent of sales 32.4% 26.0% 6.7% 21.8% 8.0% 18.7% Realignment charges (a) 25,481 (4,571) 30,052 — 6,907 23,145 23.0% 0.18 Acquisition related (b) 9 (4,243) 4,252 — 1,000 3,252 23.5% 0.02 Purchase accounting step-up and intangible asset amortization (c) 2,625 (1,300) 3,925 — 1,182 2,743 30.1% 0.02 Discrete items (d)(e)(f) 31 (30,351) 30,382 1,500 7,499 24,383 23.5% 0.19 Merger transaction costs (g) — (25,682) 25,682 — 5,885 19,797 22.9% 0.15 Merger termination payment (h) — — — (266,000) (60,957) (205,043) 22.9% (1.56) Discrete tax items (i) — — — — (24,860) 24,860 0.0% 0.19 Below-the-line foreign exchange impacts (j) — — — 5,401 622 4,779 11.5% 0.04 Adjusted $408,432 $ 239,005 $173,565 $ (2,879) $ 30,966 $ 117,498 20.3% 0.90 Adjusted as a percent of sales 34.8% 20.4% 14.8% -0.2% 2.6% 10.0% Note: Amounts may not calculate due to rounding (a) Charges represent realignment costs incurred as a result of realignment programs of which $2,300 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 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 U.S. Qualified pension plan. (e) Charge of $1,500 represents a non-cash pension settlement accounting loss incurred in conjunction with the freeze of our U.S. Qualified pension plan. (f) Charge of $30,100 represents the Q3 2025 non-cash adjustment to our estimated liability for incurred by not reported asbestos claims based on an annual actuarial study. (g) Charge represents transaction costs incurred associated with the terminated Chart Industries merger. (h) Amount represents the Chart Industries merger termination fee paid to Flowserve. (i) Amount represents a one-time tax charge related to enactment of the One Big Beautiful Bill Act during Q3 2025. (j) 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. 5
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SEGMENT INFORMATION (Unaudited) Three Months Ended September 30, FLOWSERVE PUMPS DIVISION 2026 2025 (Amounts in millions, except percentages) Bookings $ 940.1 $ 819.5 Sales 830.4 800.3 Gross profit 314.3 265.8 Gross profit margin 37.8% 33.2% SG&A 152.2 135.0 Segment operating income 168.0 134.9 Segment operating income as a percentage of sales 20.2% 16.9% Three Months Ended September 30, FLOW CONTROL DIVISION 2026 2025 (Amounts in millions, except percentages) Bookings $ 446.2 $ 396.1 Sales 411.6 377.4 Gross profit 98.9 114.2 Gross profit margin 24.0% 30.3% SG&A 80.9 67.8 Gain on sale of business 16.2 — Segment operating income 34.2 46.4 Segment operating income as a percentage of sales 8.3% 12.3% 6
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Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited) (Amounts in thousands) Flowserve Pumps Division Flow Control Division 7 Three Months EndedSeptember 30, 2026 GrossProfit Selling,General &AdministrativeExpense OperatingIncome Reported $314,255 $ 152,218 $168,023 Reported as a percent of sales 37.8% 18.3% 20.2% Realignment charges (a) (869) (534) (335) Discrete items (b) — (7,967) 7,967 Amortization of intangible assets (d) 2,916 (2,276) 5,192 Adjusted $316,302 $ 141,441 $180,847 Adjusted as a percent of sales 38.1% 17.0% 21.8% Three Months EndedSeptember 30, 2025 GrossProfit Selling,General &AdministrativeExpense OperatingIncome Reported $265,776 $ 135,046 $134,869 Reported as a percent of sales 33.2% 16.9% 16.9% Realignment charges (a) 21,628 (88) 21,716 Discrete items (b) 24 (63) 87 Adjusted $287,428 $ 134,895 $156,672 Adjusted as a percent of sales 35.9% 16.9% 19.6% Three Months EndedSeptember 30, 2026 GrossProfit Selling,General &AdministrativeExpense Gain onSale ofBusiness OperatingIncome Reported $ 98,906 $ 80,889 $16,177 $ 34,194 Reported as a percent of sales 24.0% 19.7% 3.9% 8.3% Realignment charges (a) 26,840 (3,762) (16,177) 14,425 Acquisition and divestiture related (c) — (2,956) — 2,956 Amortization of intangible assets (d) 10,982 (4,489) — 15,471 Adjusted $136,728 $ 69,682 $ — $ 67,046 Adjusted as a percent of sales 33.2% 16.9% 0.0% 16.3% Three Months EndedSeptember 30, 2025 GrossProfit Selling,General &AdministrativeExpense OperatingIncome Reported $114,250 $ 67,810 $ 46,440 Reported as a percent of sales 30.3% 18.0% 12.3% Realignment charges (a) 4,386 (2,395) 6,781 Acquisition related (c) 9 (4,243) 4,252 Purchase accounting step-up and intangible asset amortization (d) 2,625 (1,300) 3,925 Discrete items (b) 5 (45) 50 Adjusted $121,275 $ 59,827 $ 61,448 Adjusted as a percent of sales 32.1% 15.9% 16.3% Note: Amounts may not calculate due to rounding (a) Charges represent realignment costs incurred as a result of realignment programs and includes the gain on divestiture of our PMV Automation business (PMV) within FCD. (b) Charge represents the $7,967 strategic acquisition of intellectual property within FPD. (c) Charges represent costs associated with strategic acquisition and divestiture activities including the acquisitions of Trillium Valves and the divestiture of PMV with FCD. (d) Charges represent non-cash amortization of intangible assets and step-up in value of acquired inventories. Note: Amounts may not calculate due to rounding (a) Charges represent realignment costs incurred as a result of realignment programs of which $2,300 is non-cash. (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 U.S. Qualified pension plan. (c) Charge represents acquisition and integration-related costs associated with the MOGAS acquisition. (d) Charge represents amortization of acquisition related intangible assets associated with the MOGAS acquisition.
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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (Amounts in thousands, except per share data) Nine Months Ended September 30, 2026 2025 Sales $ 3,475,217 $ 3,507,069 Cost of sales (2,296,270) (2,350,867) Gross profit 1,178,947 1,156,202 Selling, general and administrative expense (811,655) (814,237) Gain on sale of business 16,177 — Net earnings from affiliates 41,992 15,786 Operating income 425,461 357,751 Interest expense (72,768) (58,166) Interest income 8,885 5,063 Other (expense) income, net (13,272) 213,958 Earnings before income taxes 348,306 518,606 Provision for income taxes (53,299) (127,067) Net earnings, including noncontrolling interests 295,007 391,539 Less: Net earnings attributable to noncontrolling interests (11,290) (16,298) Net earnings attributable to Flowserve Corporation $ 283,717 $ 375,241 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 2.23 $ 2.87 Diluted 2.21 2.85 Weighted average shares - basic 127,434 130,910 Weighted average shares - diluted 128,314 131,836 8
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Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited) (Amounts in thousands, except per share data) Nine Months Ended September 30, 2026 GrossProfit Selling,General &AdministrativeExpense Gain onSale ofBusiness Netearningsfromaffiliates OperatingIncome OtherIncome(Expense),Net Provision For(Benefit From)Income Taxes Net Earnings(Loss) EffectiveTax Rate DilutedEPS Reported $1,178,947 $ 811,655 $16,177 $41,992 $ 425,461 $ (13,272) $ 53,299 $ 283,717 15.3% 2.21 Reported as a percent of sales 33.9% 23.4% 0.5% 1.2% 12.2% -0.4% 1.5% 8.2% Realignment charges (a) 75,452 (26,234) (16,177) — 85,509 — 6,773 78,736 7.9% 0.61 Acquisition and divestiture related (b)(c) — (23,179) — (27,700) (4,521) — 5,554 (10,075) -122.8% (0.08) Amortization of intangible assets (d) 16,454 (12,113) — — 28,567 — 4,394 24,173 15.4% 0.19 Discrete items (e)(f) 62 (8,719) — — 8,781 5,576 1,491 12,866 10.4% 0.10 Discrete tax items (g) — — — — — — 23,072 (23,072) 0.0% (0.18) Below-the-line foreign exchangeimpacts (h) — — — — — 2,409 255 2,154 10.6% 0.02 Adjusted $1,270,915 $ 741,410 $ — $14,292 $ 543,797 $ (5,287) $ 94,838 $ 368,499 20.0% 2.87 Adjusted as a percent of sales 36.6% 21.3% 0.0% 0.4% 15.6% -0.2% 2.7% 10.6% 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, and ofwhich $5,234 is non-cash. Also includes the gain on divestiture of our PMV Automation business (PMV) within FCD.(b) Charges represent costs associated with strategic acquisition and divestiture activities including the acquisitions of Greenray, Trillium Valves and Flowserve Al Mansoori ServicesCompany (FAMCO), and the divestiture of PMV.(c) Adjustment represents a $27,700 gain recognized in Net earnings from affiliates on the remeasurement of our previously held equity interest in FAMCO.(d) Charges represent non-cash amortization of intangible assets and step-up in value of acquired inventories.(e) Charges represent discrete items including $523 of non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-yearcliff vesting, provided to certain employees in conjunction with the freeze of our U.S. Qualified pension plan, $286 of transaction costs related to the divestiture of our asbestos-relatedassets and liabilities and the $7,972 strategic acquisition of intellectual property within FPD.(f) Charges include $5,576 for non-cash pension settlement accounting losses incurred in conjunction with pension plans in the United States and Canada.(g) Discrete tax adjustment includes the impact from the release of a valuation allowance in Italy.(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 aredenominated in a currency other than a site’s respective functional currency and includes the foreign exchange loss on the Blue Chip Swap Securities transaction. Nine Months Ended September 30, 2025 GrossProfit Selling,General &AdministrativeExpense OperatingIncome Other Income(Expense), Net Provision For(Benefit From)Income Taxes Net Earnings(Loss) Effective TaxRate Diluted EPS Reported $1,156,202 $ 814,237 $ 357,751 $ 213,958 $ 127,067 $ 375,241 24.5% 2.85 Reported as a percent of sales 33.0% 23.2% 10.2% 6.1% 3.6% 10.7% Realignment charges (a) 40,600 (1,481) 42,081 — 10,096 31,985 24.0% 0.24 Acquisition related (b) 761 (8,714) 9,475 — 2,228 7,247 23.5% 0.05 Purchase accounting step-up and intangibleasset amortization (c) 8,742 (3,900) 12,642 — 3,729 8,913 29.5% 0.07 Discrete items (d)(e)(f) 106 (31,116) 31,222 4,500 8,403 27,319 23.5% 0.21 Merger transaction costs (g) — (41,197) 41,197 — 9,534 31,663 23.1% 0.24 Merger termination payment (h) — — — (266,000) (60,957) (205,043) 22.9% (1.56) Discrete tax items (i) — — — — (24,860) 24,860 0.0% 0.19 Below-the-line foreign exchange impacts (j) — — — 36,797 5,977 30,820 16.2% 0.23 Adjusted $1,206,411 $ 727,829 $ 494,368 $ (10,745) $ 81,217 $ 333,005 18.9% 2.53 Adjusted as a percent of sales 34.4% 20.8% 14.1% -0.3% 2.3% 9.5% Note: Amounts may not calculate due to rounding (a) Charges represent realignment costs incurred as a result of realignment programs of which $5,300 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 non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certainemployees in conjunction with the freeze of our U.S. Qualified pension plan.(e) Charge of $4,500 represents a non-cash pension settlement accounting loss incurred in conjunction with the freeze of our U.S. Qualified pension plan.(f) Charge of $30,100 represents the Q3 2025 non-cash adjustment to our estimated liability for incurred by not reported asbestos claims based on an annual actuarial study.(g) Charge represents transaction costs incurred associated with the terminated Chart Industries merger.(h) Amount represents the Chart Industries merger termination fee paid to Flowserve.(i) Amount represents a one-time tax charge related to enactment of the One Big Beautiful Bill Act during Q3 2025.(j) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that aredenominated in a currency other than a site’s respective functional currency. 9
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SEGMENT INFORMATION (Unaudited) FLOWSERVE PUMPS DIVISION Nine Months Ended September 30, (Amounts in millions, except percentages) 2026 2025 Bookings $ 2,646.3 $ 2,394.8 Sales 2,389.0 2,402.4 Gross profit 880.3 833.5 Gross profit margin 36.8% 34.7% SG&A 447.4 415.1 Segment operating income 474.9 434.1 Segment operating income as a percentage of sales 19.9% 18.1% FLOW CONTROL DIVISION Nine Months Ended September 30, (Amounts in millions, except percentages) 2026 2025 Bookings $ 1,236.0 $ 1,126.1 Sales 1,096.5 1,112.9 Gross profit 296.4 322.1 Gross profit margin 27.0% 28.9% SG&A 225.7 206.4 Gain on sale of business 16.2 — Segment operating income 86.9 115.7 Segment operating income as a percentage of sales 7.9% 10.4% 10
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Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited) (Amounts in thousands) Flowserve Pumps Division Flow Control Division 11 Nine Months EndedSeptember 30, 2026 Gross Profit Selling,General &AdministrativeExpense Net earningsfrom affiliates OperatingIncome Reported $ 880,323 $ 447,390 $ 41,992 $474,925 Reported as apercent of sales 36.8% 18.7% 1.8% 19.9% Realignmentcharges (a) 19,740 (10,067) — 29,807 Discreteitems (b)(c) 48 (8,063) — 8,111 Acquisition anddivestiturerelated (d)(e) — (813) (27,700) (26,887) Amortization ofintangibleassets (f) 5,372 (5,022) — 10,394 Adjusted $ 905,483 $ 423,425 $ 14,292 $496,350 Adjusted as apercent of sales 37.9% 17.7% 0.6% 20.8% Nine Months EndedSeptember 30, 2025 Gross Profit Selling,General &AdministrativeExpense OperatingIncome Reported $ 833,467 $ 415,126 $434,128 Reported as a percent of sales 34.7% 17.3% 18.1% Realignment charges (a) 26,495 (840) 27,335 Discrete items (b) 87 (287) 374 Adjusted $ 860,049 $ 413,999 $461,837 Adjusted as a percent of sales 35.8% 17.2% 19.2% Nine Months EndedSeptember 30, 2026 Gross Profit Selling,General &AdministrativeExpense Gain onSale ofBusiness OperatingIncome Reported $ 296,399 $ 225,648 $16,177 $ 86,928 Reported as a percentof sales 27.0% 20.6% 1.5% 7.9% Realignmentcharges (a) 55,712 (476) (16,177) 40,011 Discrete items (b) 10 (75) — 85 Acquisition anddivestiturerelated (d) — (19,121) — 19,121 Amortization ofintangible assets (f) 11,082 (7,091) — 18,173 Adjusted $ 363,203 $ 198,885 $ — $164,318 Adjusted as a percentof sales 33.1% 18.1% 0.0% 15.0% Nine Months EndedSeptember 30, 2025 Gross Profit Selling,General &AdministrativeExpense OperatingIncome Reported $ 322,131 $ 206,437 $ 115,694 Reported as a percent of sales 28.9% 18.5% 10.4% Realignment charges (a) 14,704 1,230 13,474 Acquisition related (c) 761 (8,714) 9,475 Purchase accounting step-up andintangible assetamortization (d) 8,742 (3,900) 12,642 Discrete items (b) 14 (208) 222 Adjusted $ 346,352 $ 194,845 $151,507 Adjusted as a percent of sales 31.1% 17.5% 13.6% Note: Amounts may not calculate due to rounding (a) Charges represent realignment costs incurred as a result of realignmentprograms, net of a $5,300 gain associated with a sale-leaseback transactionrelated to a FCD facility, and of which $5,234 is non-cash. Also includes the gainon divestiture of our PMV Automation business (PMV) within FCD.(b) Charges represent $229 of non-cash share-based compensation expenseassociated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freezeof our U.S. Qualified pension plan.(c) Charge represents the $7,967 strategic acquisition of intellectual property withinFPD.(d) Charges represent costs associated with strategic acquisition and divestitureactivities including the acquisitions of Greenray, Trillium Valves and FlowserveAl Mansoori Services Company (FAMCO), and the divestiture of PMV.(e) Adjustment represents a $27,700 gain recognized in Net earnings from affiliateson the remeasurement of our previously held equity interest in FAMCO.(f) Charges represent non-cash amortization of intangible assets and step-up invalue of acquired inventories. Note: Amounts may not calculate due to rounding (a) Charges represent realignment costs incurred as a result of realignment programsof which $5,300 is non-cash.(b) Charge represents non-cash share-based compensation expense associated with aone-time discretionary restricted stock grant, subject to three-year cliff vesting,provided to certain employees in conjunction with the freeze of our U.S. Qualifiedpension plan.(c) Charge represents acquisition and integration-related costs associated with theMOGAS acquisition.(d) Charge represents amortization of step-up in value of acquired inventories andacquisition related intangible assets associated with the MOGAS acquisition.
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Segment Results (Unaudited) Flowserve Pumps Division (dollars in millions) Q3 2026 Q3 2025 Change YTD 2026 YTD 2025 Change Organic Bookings 10.9% 6.8% Acquisitions / Divestitures Impact 3.9% 1.8% FX Impact (a) (0.1%) 1.9% Total Bookings (b) $ 940 $ 819 14.7% $ 2,646 $ 2,395 10.5% Organic Sales (0.9%) (3.6%) Acquisitions / Divestitures Impact 4.7% 1.2% FX Impact (a) 0.0% 1.8% Reported Sales (b) $ 830 $ 800 3.8% $ 2,389 $ 2,402 (0.6%) Gross Margin 37.8% 33.2% 460 bps 36.8% 34.7% 210 bps Adjusted Gross Margin (c) 38.1% 35.9% 220 bps 37.9% 35.8% 210 bps Operating Margin 20.2% 16.9% 330 bps 19.9% 18.1% 180 bps Adjusted Operating Margin (d) 21.8% 19.6% 220 bps 20.8% 19.2% 160 bps Backlog (b) $2,377 $2,007 18.5% $ 2,377 $ 2,007 18.5% Flows Control Division (dollars in millions) Q3 2026 Q3 2025 Change YTD 2026 YTD 2025 Change Organic Bookings 0.8% 4.8% Acquisitions / Divestitures Impact 12.2% 4.3% FX Impact (a) (0.4%) 0.7% Total Bookings (b) $ 446 $ 396 12.6% $ 1,236 $ 1,126 9.8% Organic Sales (1.3%) (5.8%) Acquisitions / Divestitures Impact 10.8% 3.7% FX Impact (a) (0.4%) 0.6% Reported Sales (b) $ 412 $ 377 9.1% $ 1,096 $ 1,113 (1.5%) Gross Margin 24.0% 30.3% (630 bps) 27.0% 28.9% (190 bps) Adjusted Gross Margin (c) 33.2% 32.1% 110 bps 33.1% 31.1% 200 bps Operating Margin 8.3% 12.3% (400 bps) 7.9% 10.4% (250 bps) Adjusted Operating Margin (d) 16.3% 16.3% — 15.0% 13.6% 140 bps Backlog (b) $1,105 $ 896 23.2% $ 1,105 $ 896 23.2% (a) Constant foreign exchange (FX) represents the year-over-year variance assuming Q3 and YTD 2026 results at Q3 and YTD 2025 FX rates (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 12
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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Amounts in thousands, except par value) September 30,2026 December 31,2025 ASSETS Current assets: Cash and cash equivalents $ 742,148 $ 760,183 Accounts receivable, net of allowance for expected credit losses of $92,193 and $83,094, respectively 1,084,291 1,029,095 Contract assets, net of allowance for expected credit losses of $6,124 and $6,028, respectively 330,293 322,472 Inventories 844,122 789,898 Prepaid expenses and other 127,820 141,237 Total current assets 3,128,674 3,042,885 Property, plant, and equipment, net of accumulated depreciation of $1,242,388 and $1,224,912, respectively 574,771 566,751 Operating lease right-of-use asset, net 189,000 166,031 Goodwill 1,697,977 1,391,988 Deferred taxes 181,605 156,250 Other intangible assets, net 369,747 198,475 Other assets, net of allowance for expected credit losses of $66,210 and $66,047, respectively 205,227 185,820 Total assets $6,347,001 $5,708,200 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 556,532 $ 554,243 Accrued liabilities 556,768 587,475 Contract liabilities 329,380 274,669 Debt due within one year 9,895 49,868 Operating lease liabilities 38,093 35,630 Total current liabilities 1,490,668 1,501,885 Long-term debt due after one year 2,046,807 1,525,210 Operating lease liabilities 163,348 149,565 Retirement obligations and other liabilities 262,767 277,216 Contingencies (See Note 12) Shareholders’ equity: Preferred shares, $1.00 par value — — Shares authorized — 1,000, no shares issued Common shares, $1.25 par value 220,991 220,991 Shares authorized — 305,000 Shares issued — 176,793 and 176,793, respectively Capital in excess of par value 504,791 508,890 Retained earnings 4,460,774 4,261,977 Treasury shares, at cost — 50,173 and 49,763 shares, respectively (2,290,306) (2,231,685) Deferred compensation obligation 5,922 6,629 Accumulated other comprehensive loss (590,627) (575,405) Total Flowserve Corporation shareholders’ equity 2,311,545 2,191,397 Noncontrolling interests 71,866 62,927 Total equity 2,383,411 2,254,324 Total liabilities and equity $6,347,001 $5,708,200 13
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Amounts in thousands) Nine Months EndedSeptember 30, 2026 2025 Cash flows — Operating activities: Net earnings, including noncontrolling interests 295,007 391,539 Adjustments to reconcile net earnings to net cash provided by operating activities Depreciation 61,537 58,685 Amortization of intangible and other assets 24,750 14,009 (Gain) on remeasurement of previously held equity interest (27,700) — (Gain) on sale of business (16,177) — Stock-based compensation 30,469 25,787 Loss on Blue Chip Swap Securities 3,146 — Foreign currency, asset write downs and other non-cash adjustments (5,446) (3,326) Change in assets and liabilities: Accounts receivable, net (28,684) (26,081) Inventories (7,421) 26,727 Contract assets, net (8,198) (35,157) Prepaid expenses and other assets, net 15,698 (7,362) Accounts payable (34,192) 31,158 Contract liabilities 18,750 (17,857) Accrued liabilities (60,582) (30,488) Retirement obligations and other liabilities (5,779) 31,900 Net deferred taxes (24,897) 46,524 Net cash flows provided by operating activities 230,281 506,058 Cash flows — Investing activities: Capital expenditures (51,056) (45,534) Payments for acquisitions, net of cash acquired (517,735) — Proceeds from disposal of assets 9,783 1,067 Purchases of Blue Chip Swap Securities (52,939) — Proceeds from Sales of Blue Chip Swap Securities 49,793 — Proceeds from divestiture of business, net of cash divested 34,567 — Affiliate investment activity (3,960) — Net cash flows (used) by investing activities (531,547) (44,467) Cash flows — Financing activities: Proceeds from issuance of senior notes, net of discount 499,320 — Payments on term loan (77,875) (28,125) Proceeds from long-term debt 74,750 — Payment of deferred loan costs (4,893) — Proceeds under revolving credit facility 150,000 50,000 Payments under revolving credit facility (160,000) (50,000) Proceeds under other financing arrangements 1,071 10,562 Payments under other financing arrangements (8,058) (3,310) Payments related to tax withholding for stock-based compensation (23,339) (11,584) Repurchases of common shares (75,000) (197,920) Payments of dividends (82,881) (82,671) Contingent consideration payment related to acquired business — (15,000) Other (2,123) (2,899) Net cash flows (used) provided by financing activities 290,972 (330,947) Effect of exchange rate changes on cash and cash equivalents (7,741) 27,762 Net change in cash and cash equivalents (18,035) 158,406 Cash and cash equivalents at beginning of period 760,183 675,441 Cash and cash equivalents at end of period $742,148 $833,847 Non-Cash Investing and Financing Activities: Liabilities incurred related to acquired business, but not paid $ 1,505 — 14
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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 Contact: investorrelations@flowserve.com Olivia Webb, Director, Investor Relations 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, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, 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 integrating 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. ### 15