IRVING, Texas (AP) — IRVING, Texas (AP) — Flowserve Corp. (FLS) on Monday reported third-quarter profit of $58.4 million.
The Irving, Texas-based company said it had net income of 44 cents per share. Earnings, adjusted for non-recurring costs, were 62 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The company that makes pumps, valves and other parts for the oil and gas industries posted revenue of $1.13 billion in the period, which matched Street forecasts.
Flowserve expects full-year earnings in the range of $2.60 to $2.75 per share.
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