Flowserve Corporation Earnings Fall 27% In Q3

(RTTNews) - Flowserve Corporation (FLS) announced a profit for third quarter that dropped from last year.

The company said its profit fell to $93.62 million, or $0.70 per share. This was lower than $128.56 million, or $0.93 per share, in last year's third quarter.

Analysts had expected the company to earn $0.79 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 8.3% to $1.10 billion. This was down from $1.20 billion last year.

Flowserve Corporation earnings at a glance:

-Earnings (Q3): $93.62 Mln. vs. $128.56 Mln. last year. -Earnings Decline (Y-o-Y): -27.2% -EPS (Q3): $0.70 vs. $0.93 last year. -EPS Decline (Y-o-Y): -24.7% -Analysts Estimate: $0.79 -Revenue (Q3): $1.10 Bln vs. $1.20 Bln last year. -Revenue Change (Y-o-Y): -8.3%

-Guidance: Full year EPS guidance: $3.10 - $3.40