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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Flowserve
Flowserve (FLS) investor relations material
Flowserve Baird 2026 Global Industrial Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Baird 2026 Global Industrial Conference summary11 Nov, 2026
Q3 performance and 2030 targets
Q3 bookings were ~$1.3B, with record backlog and aftermarket; margin expansion continued.
Long-term targets remain mid-single-digit revenue growth and 20% operating income by 2030, plus double-digit EPS growth.
Q3 operating margin was ~16%; the plan calls for roughly 100 bps of annual margin improvement through 2030.
Margin improvement levers
The operating system, launched in 2023, drives operational, portfolio, commercial, people and innovation excellence; operational excellence and 80/20 portfolio actions are key margin drivers.
Manufacturing productivity work targets lower variances and cost per standard hour; 80/20 focuses resources on higher-value products and customers.
Aftermarket revenue has grown mid- to high-single digits for three years, outpacing OE; higher aftermarket margins support expansion.
Pricing initiatives and more substantial facility consolidations are expected to add margin; consolidation removes overhead and increases scale at key sites.
Trillium Valves, acquired in Q2, currently has margins slightly below the blended level; synergies and 80/20 are expected to lift margins above it.
Revenue growth and end markets
The 2030 revenue framework is 4%-6%; 80/20 portfolio exits weigh on revenue in 2026, with a smaller headwind in Q4 and further easing in 2027.
Record backlog and growth in power, energy security and general industries support the outlook; aftermarket growth also benefits from improved installed-base capture.
The project funnel rose sequentially, led by power, with energy security and general-industry opportunities supporting visibility into 2027 and beyond.
Refining operators have delayed spending and turnarounds amid high utilization; maintenance spending is expected to begin recovering in 2027.
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Latest events from Flowserve
- FY11 growth advanced, but project execution and working capital weighed on margins and cash flow.FLS
Q4 2011 - Sales grew, but earnings fell amid high taxes, restatement and control weaknesses.FLSQ4 2004
- Stronger bookings and margins lifted operations, but one-time charges and control risks weighed on results.FLSQ4 2005
- Record bookings and backlog accompanied higher sales, margins, and operating income.FLSQ4 2006
- Operating income rose despite falling orders, while 2010 revenue and margin risks persisted.FLSQ4 2009
- Record sales and EPS, stronger cash flow, and net debt-to-capital down to 12.5%.FLSQ4 2007
- Record 2008 results were backed by global project wins and a $2.825B backlog.FLSQ4 2008
- Bookings rose as sales and operating income declined; a $1 billion credit facility strengthened flexibility.FLSQ4 2010
- Sales and earnings grew, but the 2013 outlook remained cautious amid global uncertainty.FLSQ4 2012
Next Flowserve earnings date
Q4 202619 Feb, 2027
Flowserve
Next Flowserve earnings date
Q4 202619 Feb, 2027
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Frequently asked questions
Serving Flow
Flowserve Corporation is an American industrial and environmental machinery company that focuses on the manufacturing and servicing of pumps, valves, seals, and automation systems. The company primarily serves industries such as oil and gas, chemical, power generation, and water management, providing critical components for industrial operations. The company is headquartered in Irving, Texas, and its shares are listed on the NYSE.
Formed Through a Merger
The earliest predecessor to the early 20th century was through the merger and development of various engineering companies. However, what we today know as Flowserve was officially formed in 1997 through the merger of BW/IP, Inc. and Durco International, Inc. After the merger, Flowserve expanded its product offerings and global reach through various acquisitions.
Heading into the new millennium, Flowserve continued to grow through a focus on technological advancements and expanding its global presence. The company invested in research and development to provide advanced solutions in fluid motion and control. It expanded its market to various sectors including oil, gas, chemical, power generation, and water management.
Serving a Variety of Sectors
The company's product portfolio is designed to cater to a broad spectrum of industries. These industries encompass oil and gas, chemical, power generation, water treatment, and various other general industrial sectors. In the oil and gas sector, Flowserve’s equipment is utilized in a range of activities from upstream exploration to downstream processing. For the power generation industry, its products are employed in both traditional and nuclear power plants, contributing to operational safety and efficiency. With a global operational footprint, Flowserve has a network of manufacturing facilities, service centers, and sales offices across over 55 countries.
Fluid and Motion Control
Flowserve Corporation specializes in a variety of fluid motion and control products, primarily focusing on pumps, valves, and mechanical seals. The pumps it manufactures are designed for diverse applications, ranging from transferring basic fluids like water and oil to handling more complex and demanding substances such as corrosive or high-temperature liquids. Their valves, including types like ball, butterfly, and control valves, are used to regulate fluid flow and pressure in industrial processes. Additionally, Flowserve's mechanical seals play a critical role in maintaining the efficiency and integrity of rotating equipment, such as pumps and compressors, by preventing leaks and minimizing friction. Some other notable companies producing products for the same industry are ITT, Xylem, and Crane Company.