Flowserve (NYSE:FLS) Q4 Earnings: Aftermarket Surge, Nuclear Growth Outperform

Flowserve (NYSE:FLS) reported Q4 CY2025 revenue of $1.24B, up 4.6% YoY, and non-GAAP EPS of $1.11, 18.4% above consensus. The strong aftermarket segment and expansion in power and nuclear markets outperformed, while original equipment sales were temporarily delayed by customer and material timing. Management credited a diversified portfolio and operational improvements, with CEO Robert Rowe and CFO Amy Schwetz forecasting continued aftermarket strength, margin expansion from higher sales and 80/20 portfolio refinement, and accelerating original equipment activity in H2CY2026. The company trades at $85.40, up from $78.98 pre-earnings. Key watchpoints include backlog conversion to revenue, sustainability of aftermarket growth, and effective integration of Trillium Valves.