Flowserve Corporation (NYSE:FLS) Q1 2023 Earnings Call Transcript May 2, 2023 11:00 AM ET

Company Participants

Jay Roueche - Vice President, Investor Relations and Treasurer

Scott Rowe - President and Chief Executive Officer

Amy Schwetz - Senior Vice President and Chief Financial Officer

Conference Call Participants

Andrew Kaplowitz - Citi

Mike Halloran - Baird

Joseph Giordano - Cowen & Company

Sabrina Abrams - Bank of America Merrill Lynch

Deane Dray - RBC Capital Markets

Saree Boroditsky - Jefferies

Nathan Jones - Stifel Nicolaus

Operator

Good day everyone, and welcome to the Q1 2023 Flowserve Corporation Earnings Conference Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Jay Roueche, Vice President of Investor Relations and Treasurer. Please go ahead, sir.

Jay Roueche

Thank you, Linda, and good morning, everyone. We appreciate you joining our conference call today to discuss Flowserve's first quarter 2023 financial results. On the call with me this morning are Scott Rowe, Flowserve's President and Chief Executive Officer; and Amy Schwetz, Senior Vice President and Chief Financial Officer.

Following our prepared comments, we will open the call for questions. As a reminder, this event is being webcast and an audio replay will be available. Please note that our earnings materials do, and this call will, include non-GAAP measures and contain forward-looking statements. These statements are based upon forecasts, expectations and other information available to management as of May 2, 2023, and they involve risks and uncertainties, many of which are beyond the company's control. We encourage you to review our safe harbor disclosures as well as the reconciliation of our non-GAAP measures to our reported results, both of which are included in our press release and earnings presentation, and both are accessible on our website at the Investor Relations section.

I would now like to turn the call over to Scott Rowe, Flowserve's President and Chief Executive Officer, for his prepared comments.

Scott Rowe

Thanks Jay. And good morning, everyone. Thank you for joining Flowserve’s first quarter earnings call. I am pleased to report strong results for the first quarter, which provide us with a very solid start to the year. First quarter adjusted EPS came in at $0.40, supported by year-over-year revenue growth of nearly 20%. Thanks to the efforts of our associates across the company, we continue to build on the positive momentum created in the 2022 fourth quarter driving further operational improvements while performing for our customers.