Flowserve Corporation Q2 Profit Increases, Beats Estimates

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

The company's bottom line came in at $81.75 million, or $0.62 per share. This compares with $72.62 million, or $0.55 per share, last year.

Excluding items, Flowserve Corporation reported adjusted earnings of $119.98 million or $0.91 per share for the period.

Analysts on average had expected the company to earn $0.78 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 2.6% to $1.19 billion from $1.16 billion last year.

Flowserve Corporation earnings at a glance (GAAP) :

-Earnings: $81.75 Mln. vs. $72.62 Mln. last year. -EPS: $0.62 vs. $0.55 last year. -Revenue: $1.19 Bln vs. $1.16 Bln last year.

-Guidance: Full year EPS guidance: $3.25 - $3.40