Flowserve Corp. (FLS) announced that it now sees 2009 earnings per share at or above the high end of its previously announced target range of $7.20 to $7.50, including approximately $68 million, or $0.90 per share, in 2009 realignment charges. Analysts polled by Thomson Reuters expect the company to report earnings of $7.45 per share for fiscal 2009. Analysts' estimates typically exclude special items.
The company added that it expects to achieve approximately $110 million in annual run rate benefits from these realignment initiatives and the realignment charges expected to be taken in 2010.
The company announced its 2010 earnings per share target range of $6.35 to $7.15, which includes the full impact of up to $20 million, or approximately $0.26 per share, in planned 2010 realignment charges and an expected first quarter after-tax charge of around $14 million, or $0.25 per share, to reflect the adverse impact of the devaluation of the Venezuelan bolivar. Analysts expect the company to report earnings of $7.28 per share for fiscal 2010.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.