SPX Flow: 2Q Earnings Snapshot
CHARLOTTE, N.C. (AP) _ SPX Flow Inc. (FLOW) on Tuesday reported second-quarter net income of $62.6 million.
The Charlotte, North Carolina-based company said it had profit of $1.47 per share. Earnings, adjusted for one-time gains and costs, came to 39 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The engineered flow components maker posted revenue of $385.4 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $500.3 million.
SPX Flow expects full-year earnings in the range of $1.75 to $1.95 per share, with revenue in the range of $1.49 billion to $1.52 billion.
SPX Flow shares have risen 22% since the beginning of the year. The stock has decreased 19% in the last 12 months.