97.9 F
Fort Worth
Friday, August 7, 2020

Flowserve: 2Q Earnings Snapshot

Other News

Oil giants lost billions as pandemic crushed demand for fuel

By CATHY BUSSEWITZ AP Business Writer NEW YORK (AP) — Two American oil giants lost more than $9 billion...

Irving man convicted of wire fraud after posing as movie producer

CONCORD, N.H. (AP) — A former college student from Texas who posed as a film producer has been sentenced in New Hampshire...

Fluor appoints new CFO

Irving-based Fluor Corp. (NYSE: FLR) announced July 24 that Joe Brennan has been appointed as Fluor’s chief financial officer (CFO) effective July...

MetroTex Association of REALTORS moving closer to Tarrant County

The MetroTex Association of REALTORS is moving a little closer to Tarrant County. The organization, that provides...


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

- Advertisement -
- Advertisement -

Latest News

Novaria Group announces two new board members

Novaria Group has announced that Bonnie Peat and James Riley have joined its board of directors.

Textron: 2Q Earnings Snapshot

PROVIDENCE, R.I. (AP) _ Textron Inc. (TXT) on Thursday reported a second-quarter loss of $92 million, after reporting a profit in the...

Italian firm opening $15M ammunition plant in Little Rock

LITTLE ROCK, Ark. (AP) — An Italian-based company announced Thursday it's opening a $15 million ammunition factory in Little Rock.

Local agencies take home national honors at AAF program

Balcom Agency wins five silver awards Balcom Agency, a Fort Worth agency founded in...

Dallas Fed Survey: Texas Manufacturing Recovery Continues

Texas factory activity continued to expand in July following a record contraction in the spring, according to business...