Flowserve: Q3 Earnings Snapshot
IRVING, Texas (AP) — IRVING, Texas (AP) — Flowserve Corp. (FLS) on Wednesday reported third-quarter profit of $46.2 million.
IRVING, Texas (AP) — IRVING, Texas (AP) — Flowserve Corp. (FLS) on Wednesday reported third-quarter profit of $46.2 million.
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On a per-share basis, the Irving, Texas-based company said it had profit of 35 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 50 cents per share.
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The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The company that makes pumps, valves and other parts for the oil and gas industries posted revenue of $1.09 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.02 billion.
Flowserve expects full-year earnings in the range of $1.40 to $1.50 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FLS at https://www.zacks.com/ap/FLS