Flowserve Hosts 2023 Analyst Day and Issues 2027 Financial Targets - Seite 2

Preliminary Full Year 2024 Outlook²

The company today is providing a preliminary 2024 outlook, with official guidance expected to be initiated in February 2024, including expectations for:

• Mid-single digit percentage revenue increase year-over-year
• Low-double digit full-year adjusted operating margins, up ~100 basis points year-over-year, and
• Adjusted EPS growth of over 20-25% year-over-year

2027 Financial Targets²

Additionally, the company is introducing its 2027 financial targets, which include expectations for:

• Revenue of over $5.0 billion
• Adjusted operating margins rising to between 14%-16%
• Adjusted EPS over $4.00

¹ Adjusted 2023 EPS excludes identified realignment expenses, the impact from other specific discrete items (including planned Velan acquisition) and below-the-line foreign currency effects and utilizes current FX rates and approximately 131.8 million fully diluted shares.
² Figures exclude any impact from potential acquisitions or foreign exchange rates. Adjusted Operating Margin and Adjusted EPS are Non-GAAP figures. Please see historical reconciliations of GAAP to Adjusted figures and key assumptions available in the appendix of the 2023 Analyst Day presentation.

Accessing Flowserve’s 2023 Analyst Day webcast and materials

Flowserve will post its Analyst Day presentation to its website before the presentation begins this morning. Additionally, shareholders and other interested parties can register for the live webcast, which can be accessed at www.flowserve.com under the “Investor Relations” section or through this link.

About Flowserve
Flowserve Corp. 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 Web site at www.flowserve.com.

Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, 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