Flowserve Corporation Reports Strong Q1 2025 Results; Reaffirms Full-Year Guidance

DALLAS — Flowserve Corporation (NYSE: FLS), a global leader in flow control solutions, reported robust first quarter 2025 results, highlighted by record aftermarket bookings, increased profitability, and margin expansion across business segments.

Q1 2025 Highlights
Bookings: $1.23 billion, up 18.1% year-over-year

Aftermarket bookings: Record high at $688.6 million

Power segment bookings: Increased 45%, third straight quarter of $100M+ nuclear awards

Backlog: $2.90 billion, up 11.1% year-over-year

Sales: $1.14 billion, up 5.2%

Operating Income: $132 million (GAAP), $147 million adjusted (up 24%)

Gross Margin: 32.3% GAAP (+110 bps); 33.5% adjusted (+180 bps)

EPS: $0.56 GAAP; $0.72 adjusted (up 24.1%)

Cash from Operations: ($49.9 million), impacted by working capital timing

Segment Results
Flowserve Pumps Division (FPD)

Bookings: $852.9 million (+21.2%)

Sales: $783.1 million (+1.8%)

Gross Margin: 34.3% (+210 bps)

Adjusted Operating Margin: 17.7% (+280 bps)

Flow Control Division (FCD)

Bookings: $376 million (+10.2%)

Sales: $364.1 million (+13.6%)

Gross Margin: 27.5% (-140 bps)

Adjusted Operating Margin: 12.2% (+110 bps)

2025 Outlook (Reaffirmed)
Organic Sales Growth: +3% to +5%

Total Sales Growth: +5% to +7% (including MOGAS acquisition and FX)

Adjusted EPS: $3.10 – $3.30

CapEx: $80 – $90 million

Adjusted Tax Rate: ~21%

Net Interest Expense: ~$70 million