IRVING, Texas (AP) — IRVING, Texas (AP) — Flowserve Corp. (FLS) on Tuesday reported first-quarter net income of $73.9 million.
The Irving, Texas-based company said it had profit of 56 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, came to 72 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The company that makes pumps, valves and other parts for the oil and gas industries posted revenue of $1.14 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.11 billion.
Flowserve expects full-year earnings in the range of $3.10 to $3.30 per share.
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