Flowserve Corporation

Ingersoll Rand reported second-quarter revenues of $2.05 billion, up 8.5% year on year and 4.6% above analysts' expectations, in what was a strong quarter for the company. The industrial equipment maker also beat analysts' EPS estimates, while its full-year EBITDA guidance met expectations, though the stock is down 14% since reporting and currently trades at $72.48. Across the 12 gas and liquid handling stocks tracked, group revenues beat consensus estimates by 2% while next quarter's revenue guidance came in 0.8% below, and share prices have fallen 7% on average since the latest earnings results. SPX Technologies posted the best quarter with revenues of $679 million, up 22.9% year on year and 5.8% above expectations, and achieved the highest full-year guidance raise of the group, while Graco delivered the weakest performance against analyst estimates with revenues of $590.6 million, up 3.3% year on year but 3% short of expectations. Flowserve reported revenues of $1.17 billion, down 1.6% year on year but 0.9% above expectations, and Parker-Hannifin reported revenues of $5.76 billion, up 9.8% year on year and 3.3% above expectations.

Flowserve Corp reported record aftermarket bookings of nearly $700 million in its second quarter of 2026, driving total bookings up 26% year-over-year to $1.35 billion and prompting the company to raise its full-year adjusted earnings per share guidance to a range of $4.05 to $4.20. Adjusted operating margin expanded 70 basis points to 15.3%, while adjusted gross margin reached 35.9%, up 100 basis points from a year ago. However, organic sales declined 3% due to ongoing portfolio actions and disruption in the Middle East, where sales fell roughly $60 million year-to-date, leading the company to lower its full-year organic sales growth outlook to approximately negative 1%. The company also closed its acquisition of Trillium Valve on June 30, enhancing its capabilities in power generation and expanding its installed base.

Trillium Flow Technologies, backed by First Reserve, has completed the sale of select valves businesses to Flowserve Corporation. The transaction excludes Trillium's French valves operations. The divested portfolio includes established brands serving critical industries such as power, water, and infrastructure, with a focus on differentiated technology for nuclear power generation assets globally. Trillium will continue to operate its remaining businesses in critical infrastructure markets. J.P. Morgan Securities LLC served as financial advisor to Trillium and First Reserve, with Freshfields as legal advisor.

Flowserve Corporation has closed its all-cash acquisition of Trillium Flow Technologies’ Valves Division for $490 million plus working capital adjustments. The acquired business, which excludes Trillium Valves’ French operations, is a provider of highly engineered mission-critical valves and flow control equipment for nuclear and traditional power generation, industrial, and critical infrastructure applications. Flowserve expects the division to generate annualized revenue of approximately $200 million after applying its 80/20 operating principles, with adjusted EBITDA margins in the high teens. The acquisition strengthens Flowserve’s position in the nuclear and power generation markets and advances its 3D growth strategy through value-creating capital deployment.