Sunday, December 5, 2021
59 F
Fort Worth

Flowserve: 2Q Earnings Snapshot

🕐 1 min read


IRVING, Texas (AP) _ Flowserve Corp. (FLS) on Thursday reported second-quarter profit of $8.6 million.


On a per-share basis, the Irving-based company said it had profit of 7 cents. Earnings, adjusted for non-recurring costs, came to 53 cents per share.


The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The company that makes pumps, valves and other parts for the oil and gas industries posted revenue of $925 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $890.9 million.


Flowserve shares have declined 40% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $29.96, a decrease of 42% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FLS at https://www.zacks.com/ap/FLS

Related Articles

Our Digital Sponsors

Latest Articles

Fort Worth Business Press Logo
This advertisement will close in
00
Months
00
Days
00
Hours
00
Minutes
00
Seconds
seconds..
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate