Flowserve Q2 Profit Rises

(RTTNews) - Flowserve Corp. (FLS) Wednesday reported second-quarter net income of $120.4 million or $0.84 per share, up from $107.3 million or $0.66 per share last year.

On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.79 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter grew to $1.24 billion from $1.18 billion last year. Analysts estimated revenues of $1.22 billion for the quarter.

Looking forward, the company said, "With these attributes and our normal earnings seasonality, we remain confident in reaffirming our 2013 split-adjusted EPS guidance of $3.20 to $3.53."

Analysts currently estimate earnings of $3.38 per share for the year.