Flowserve Corporation Q2 Profit Increases, beats estimates

(RTTNews) - Flowserve Corporation (FLS) released earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $51.20 million, or $0.39 per share. This compares with $44.78 million, or $0.34 per share, in last year's second quarter.

Excluding items, Flowserve Corporation reported adjusted earnings of $68.16 million or $0.52 per share for the period.

Analysts on average had expected the company to earn $0.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.4% to $1.08 billion from $882.22 million last year.

Flowserve Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $51.20 Mln. vs. $44.78 Mln. last year. -EPS (Q2): $0.39 vs. $0.34 last year. -Analyst Estimate: $0.40 -Revenue (Q2): $1.08 Bln vs. $882.22 Mln last year.

-Guidance: Full year EPS guidance: $1.85 - $2.00