IRVING, Texas (AP) 鈥� IRVING, Texas (AP) 鈥� Flowserve Corp. (FLS) on Wednesday reported first-quarter profit of $81.7 million.
On a per-share basis, the Irving, Texas-based company said it had net income of 64 cents. Earnings, adjusted for non-recurring costs, came to 85 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The company that makes pumps, valves and other parts for the oil and gas industries posted revenue of $1.07 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $1.19 billion.
Flowserve expects full-year earnings in the range of $4 to $4.20 per share.
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