Flowserve Q3 Profit Falls to $103 Million Despite 5.4% Revenue Growth; Full-Year EPS Guidance Set at $4.10-$4.20

Flowserve Corporation (FLS) reported third-quarter earnings of $103.04 million, or $0.81 per share, down sharply from $219.58 million, or $1.67 per share, in the same period last year. Excluding items, the industrial pump and valve maker posted adjusted earnings of $137.19 million, or $1.07 per share. Revenue rose 5.4% to $1.237 billion from $1.174 billion a year earlier. The company guided full-year EPS to a range of $4.10 to $4.20 and full-year revenue growth of 2% to 3%.