SPX Flow: 2Q Earnings Snapshot
CHARLOTTE, N.C. (AP) _ SPX Flow Inc. (FLOW) on Wednesday reported second-quarter profit of $22.9 million.
The Charlotte, North Carolina-based company said it had net income of 54 cents per share. Earnings, adjusted for pretax expenses, came to 57 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The engineered flow components maker posted revenue of $531.2 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $509.8 million.
SPX Flow expects full-year earnings to be $2.21 to $2.56 per share.
SPX Flow shares have dropped slightly since the beginning of the year. The stock has climbed 34 percent in the last 12 months.