Flowserve Corporation Q1 adjusted earnings Beat Estimates

Flowserve Corporation (FLS) announced earnings for its first quarter that climbed from last year.

The company's profit totaled $14.08 million, or $0.11 per share. This compares with $12.12 million, or $0.09 per share, in last year's first quarter.

Excluding items, Flowserve Corporation reported adjusted earnings of $36.70 million or $0.28 per share for the period.

Analysts had expected the company to earn $0.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.1% to $857.31 million from $893.51 million last year.

Flowserve Corporation earnings at a glance:

-Earnings (Q1): $36.70 Mln. vs. $25.19 Mln. last year.
-EPS (Q1): $0.28 vs. $0.19 last year.
-Analysts Estimate: $0.19
-Revenue (Q1): $857.31 Mln vs. $893.51 Mln last year.

Full year EPS guidance: $1.40 - $1.60

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