IRVING, Texas (AP) — IRVING, Texas (AP) — Flowserve Corp. (FLS) on Tuesday reported second-quarter net income of $51.2 million.
The Irving, Texas-based company said it had net income of 39 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 52 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The company that makes pumps, valves and other parts for the oil and gas industries posted revenue of $1.08 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $981.1 million.
Flowserve expects full-year earnings in the range of $1.85 to $2 per share.
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