SPX Flow: 3Q Earnings Snapshot
CHARLOTTE, N.C. (AP) _ SPX Flow Inc. (FLOW) on Wednesday reported a third-quarter loss of $31.6 million, after reporting a profit in the same period a year earlier.
The Charlotte, North Carolina-based company said it had a loss of 74 cents per share. Earnings, adjusted to account for discontinued operations and non-recurring costs, were 59 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The engineered flow components maker posted revenue of $383.5 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $362.3 million.
SPX Flow expects full-year earnings to be $1.90 per share, with revenue expected to be $1.51 billion.
SPX Flow shares have risen 44% since the beginning of the year. The stock has increased 15% in the last 12 months.