Flowserve Corporation Q3 Profit Decreases, misses estimates

(RTTNews) - Flowserve Corporation (FLS) announced a profit for third quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $38.40 million, or $0.29 per share. This compares with $49.79 million, or $0.38 per share, in last year's third quarter.

Excluding items, Flowserve Corporation reported adjusted earnings of $12.34 million or $0.09 per share for the period.

Analysts on average had expected the company to earn $0.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.8% to $872.88 million from $866.12 million last year.

Flowserve Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $38.40 Mln. vs. $49.79 Mln. last year. -EPS (Q3): $0.29 vs. $0.38 last year. -Analyst Estimates: $0.23 -Revenue (Q3): $872.88 Mln vs. $866.12 Mln last year.