Flowserve Corporation Q2 Profit Decreases, but beats estimates

(RTTNews) - Flowserve Corporation (FLS) revealed a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $44.78 million, or $0.34 per share. This compares with $45.35 million, or $0.35 per share, in last year's second quarter.

Excluding items, Flowserve Corporation reported adjusted earnings of $39.46 million or $0.30 per share for the period.

Analysts on average had expected the company to earn $0.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.8% to $882.22 million from $898.18 million last year.

Flowserve Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $44.78 Mln. vs. $45.35 Mln. last year. -EPS (Q2): $0.34 vs. $0.35 last year. -Analyst Estimates: $0.25 -Revenue (Q2): $882.22 Mln vs. $898.18 Mln last year.