IRVING, Texas (AP) — IRVING, Texas (AP) — Flowserve Corp. (FLS) on Monday reported first-quarter earnings of $74.2 million.
On a per-share basis, the Irving, Texas-based company said it had net income of 56 cents. Earnings, adjusted for non-recurring costs, came to 58 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The company that makes pumps, valves and other parts for the oil and gas industries posted revenue of $1.09 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.04 billion.
Flowserve expects full-year earnings in the range of $2.50 to $2.70 per share.
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