Flowserve Corporation Q3 Profit Increases, beats estimates

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

The company's bottom line came in at $46.16 million, or $0.35 per share. This compares with $38.40 million, or $0.29 per share, in last year's third quarter.

Excluding items, Flowserve Corporation reported adjusted earnings of $66.64 million or $0.50 per share for the period.

Analysts on average had expected the company to earn $0.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.3% to $1.09 billion from $0.87 billion last year.

Flowserve Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $46.16 Mln. vs. $38.40 Mln. last year. -EPS (Q3): $0.35 vs. $0.29 last year. -Analyst Estimate: $0.43 -Revenue (Q3): $1.09 Bln vs. $0.87 Bln last year.

-Guidance: Full year EPS guidance: $1.95 - $2.05