Flowserve Corporation Announces 27% Fall In Q4 Earnings

(RTTNews) - Flowserve Corporation (FLS) revealed a profit for fourth quarter that lost ground from last year.

The company said its earnings dropped to $116.68 million, or $0.89 per share. This was lower than $159.02 million, or $1.16 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.92 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 6.5% to $1.29 billion. This was down from $1.38 billion last year.

Flowserve Corporation earnings at a glance:

-Earnings (Q4): $116.68 Mln. vs. $159.02 Mln. last year. -Earnings Decline (Y-o-Y): -26.6% -EPS (Q4): $0.89 vs. $1.16 last year. -EPS Decline (Y-o-Y): -23.3% -Analysts Estimate: $0.92 -Revenue (Q4): $1.29 Bln vs. $1.38 Bln last year. -Revenue Change (Y-o-Y): -6.5%