and good morning. Jay, Thanks,
extremely start quarter very first We to with results, a the marking pleased are our year. strong
own in business improvements drive to continue We the and expectations outperformed quarter. the our in
Given adjusted midpoint the is a increased EPS excellent nearly to have start which year to the at the increase guidance full $X.XX our year, we $X.XX, range to XX% year-over-year.
execution over delivering momentum last our by solid is months, XD established operating implementation the new ongoing strategy. on building and the on improved Flowserve of the XX our model, driven
our financial more room last presented period, the remain targets While is that for there committed progress we we we have over tremendous believe made improvement, XXXX and to we year.
providing associates Flowserve Thank doing results, of control like company. the year. flow the day a my into around solutions you for passion I such our you're to for would get world make our to every that I customers share the great thank to Before what
of detail. in XX% quarter. made earnings operational We $X.XX, nearly we increase results share of quarter which in We a XX% increase first our The this a billion excellence per year-over-year. outsized almost quarter $X.X represents generated adjusted have delivered at results Looking XXXX. strong progress first revenue, our the drove in over
XX.X% exceeded gives progression our journey. our margin adjusted Our confidence gross in and us expectations margin
Our are adjusted operating notable margin a the strong XXX increase first These income quarter results challenged. of that point to tends was considering XX.X% historically more year-over-year. seasonally be basis
are design we units. results a business delivering have the in made performance organizational improving accountability within our implemented consistent more We significant process a and speed, The basis. taken and have hold X progress changes on our improved quarterly and decision-making further enhanced providing
Additionally, our traction. operational excellence gaining program is
our seeing We material ability are to operational operate solving have trained more manufacturing The operating productively model management, focused associates directly enhanced to planning. over now daily and Floor eliminate are inefficiency our today problem in processes. X,XXX waste Shop and we that improvements linked on in and our
are clear within program, to visibility excited the our excellence about further operational improvements. have and We progress we
to consolidate opportunities global the business. improve our inherent operations, our scale more in we we are and core as footprint Additionally, finding our leverage
We have fully now have with our also made product our program and and management our good processes as defined organization progress we approach.
teams journey, the at our largely and the beginning see management are the can We dedicated focus. of improved product with but we potential already
we by we the points Investor of XXX margin and last to we very event. believe year XXX continue this of Day optimization making excellence deliver communicated improvement to in we As back pleased that the half we begin efforts XXXX advance operational year's XXXX. Overall, that the management and as well continues to as portfolio believe product and product basis the progress these at benefits will the and with seeing we portfolio are initiatives, into are of
XD our Turning delivered billion and now nearly not solid first all significant the market forward. bookings any of going strategy bookings and quarter industries. of constructive, markets represented we projects. our to $X.XX In across we outlook. first the and our XXXX, to bookings quarter, bookings remained XX% fourth the expect in continue to opportunities quarter of include Similar total to our generate growth did large the
largest a $X million but of million, award in Our see $XX number projects the was did range. to around we $XX million modest smaller
the driven higher achieve of aftermarket, ninth by operations. downtime with to customers quarter facility consecutive continue our the spend and our utilization primarily core business $X and first pleased remained with considering very MRO short-cycle money were was over quarter bookings in This healthy We as to avoid their core billion, business support quarter activities. to unplanned
these markets. seeing elevated our end across are most of trends We
Aftermarket than $XX $XXX bookings, from million and their increase and continued year-over-year, million sequentially assets highlighting generated more a further roughly keep running customers in demand to the productive.
have a million in bookings. now quarters We $XXX X delivered aftermarket row in over
combined Centers, and commitment to speed continues remains Response Quick serve levels service customers with of aftermarket of ensure high our competitive to network our global advantage. with franchise Our a
we large the greenfield The petrochemical in While the facilities. aggressive support awards gas project the comparatively $XXX in build capital exceeded of X Amiral the Jafurah April production were Arabia project facility in Phase bookings recently X announced together awards for out million. quarter, in Saudi light that
EPC Middle the and have user. with relationships have the long-standing these We end and experience customers East extensive strong, in
fully will projects commensurate parts quarter results. relationships. work. we have complexity execution won value customer capture and in projects with marginality of these type presence The these bidding given pump significant local second strong services our of are of we process our both be and both selective aftermarket a more of deliver entitlement these with Furthermore, and Additionally, prepared awards reflected disciplined, the of seals, this should that that to will with better enhanced mechanical
market. now Looking bookings by at end
and remained markets in chemicals. traditional and quarter, healthy oil the Our including gas
bookings. This our beginning more we is power for While our end were an dollar is in look size attractive pleased last industry growth most comparable X% that to deliver Flowserve. were in of to markets to year,
Europe markets mature has America for like reasonably in and decades. North several flat been demand Power
electricity However, processing, decade. AI the trend growth to substantial demand support to ongoing next and electrification energy-intensive significantly with now is the for in grow the projected over centers the data
has nuclear has hydroelectric per to generated forms new power hydrogen exposure with such equipment. power water like is gas, million energy solar generation, flow or concentrated and and roughly wind coal, well $XXX natural in power, advanced year Flowserve control as and considerable industry the as traditional and thermal critical management of as
power meaningful nuclear capacity there in power. expect a hydrocarbon-based renewables, and be new come of years We to investment expansion the forms will across generation: and all generation in
and to capitalize with on aftermarket well the prepared excited services. this are both we are new equipment We about growth in potential sector, and the growth and power parts
outlook we As our ahead, market look positive. remains
refining, expect we likely Our aftermarket franchise MRO utilization continue business levels for high will chemical strong facility power remains future. and and the at as existing foreseeable
year-over-year in we our funnel XX% is Furthermore, transition XX% the up including encouraged increase a project XX-month and energy power markets. both that are
We and into East successfully full project. to continue for project will have the the pursue projects the Pacific opportunities and deliver our South America. remain life we we ensure selective From regional Flowserve drive we larger the can that cycle appropriate as visibility customers, Middle to that Asia the over continued perspective, as well of a in for in margins
are outlook, driven level, driven industry, a of European the and in various signals and see favorable to everyone customers. from world. and parts causing From control and that and beginning continue from high data to environment ongoing regionalization more and key flow by to for from geopolitical an outlook, outlook macro overall decarbonization our at our strength power monitor positive in aftermarket megatrends and the are in We believe seeing AI part is signals energy we energy the see space. MRO centers. we But the positive and we Like in remains security North unrest global electrification optimistic about concerns America, remain to transition we we
This address visibility call first results As the where in began the growth exit quarter provides quarter-to-quarter, than last Amy? will ratio turn for XXXX that few full detail. our to over greater we will now year to years, will I exceed will our book-to-bill X.X support but book-to-bill a to we the that in the larger quarter ratio vary XXXX. revenue continued we've year. backlog year with over continue each Amy our into and expect backlog we seen
