Flowserve Corporation Q3 Profit Increases, Beats Estimates

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

The company's bottom line totaled $219.58 million, or $1.67 per share. This compares with $58.38 million, or $0.44 per share, last year.

Excluding items, Flowserve Corporation reported adjusted earnings of $117.49 million or $0.90 per share for the period.

Analysts on average had expected the company to earn $0.8 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 3.5% to $1.17 billion from $1.13 billion last year.

Flowserve Corporation earnings at a glance (GAAP) :

-Earnings: $219.58 Mln. vs. $58.38 Mln. last year. -EPS: $1.67 vs. $0.44 last year. -Revenue: $1.17 Bln vs. $1.13 Bln last year.

-Guidance: Full year EPS guidance: $3.40 - $3.50