Flowserve Corporation Q1 adjusted earnings Beat Estimates

(RTTNews) - Flowserve Corporation (FLS) announced earnings for its first quarter that increased from the same period last year.

The company's earnings totaled $57.26 million, or $0.44 per share. This compares with $15.14 million, or $0.12 per share, in last year's first quarter.

Excluding items, Flowserve Corporation reported adjusted earnings of $53.76 million or $0.41 per share for the period.

Analysts had expected the company to earn $0.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.3% to $890.05 million from $919.95 million last year.

Flowserve Corporation earnings at a glance:

-Earnings (Q1): $53.76 Mln. vs. $34.90 Mln. last year. -EPS (Q1): $0.41 vs. $0.27 last year. -Analysts Estimate: $0.34 -Revenue (Q1): $890.05 Mln vs. $919.95 Mln last year.