Flowserve Corporation Q2 Profit Increases, Beats Estimates

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

The company's earnings totaled $72.616 million, or $0.55 per share. This compares with $51.203 million, or $0.39 per share, in last year's second quarter.

Excluding items, Flowserve Corporation reported adjusted earnings of $96.332 million or $0.73 per share for the period.

Analysts on average had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.0% to $1.156 billion from $1.080 billion last year.

Flowserve Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $72.616 Mln. vs. $51.203 Mln. last year. -EPS (Q2): $0.55 vs. $0.39 last year. -Revenue (Q2): $1.156 Bln vs. $1.080 Bln last year.

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