Flowserve Corporation Q3 Profit Increases, But Misses Estimates

(RTTNews) - Flowserve Corporation (FLS) released a profit for its third quarter that increased from the same period last year but missed the Street estimates.

The company's earnings came in at $58.38 million, or $0.44 per share. This compares with $46.16 million, or $0.35 per share, in last year's third quarter.

Excluding items, Flowserve Corporation reported adjusted earnings of $81.86 million or $0.62 per share for the period.

Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.6% to $1.133 billion from $1.094 billion last year.

Flowserve Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $58.38 Mln. vs. $46.16 Mln. last year. -EPS (Q3): $0.44 vs. $0.35 last year. -Revenue (Q3): $1.133 Bln vs. $1.094 Bln last year.

-Guidance: Full year EPS guidance: $2.60 - $2.75