Flowserve Corporation Reports Third Quarter 2015 Results

October 29, 2015

Source: Lars Rosene
Department: Flowserve Corporation
Phone: (972) 443-6644

DALLAS--(BUSINESS WIRE)--Oct. 29, 2015-- Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today reported Adjusted1 Earnings Per Share (EPS) of $0.81 for the 2015 third quarter, which includes $0.06 per share of negative currency translation as compared to last year and $0.03 per share of bad debt expense. As previously disclosed, Flowserve's 2015 Adjusted EPS calculation excludes the impact of the SIHI Group ("SIHI") acquisition, which was completed on January 7, 2015, as well as below-the-line foreign currency effects and specific one-time events, such as the 2015 realignment initiatives. In the 2015 third quarter, Flowserve's Adjusted EPS excluded $0.11 per share of these items.

Third Quarter 2015 Summary (all comparisons versus prior year quarter, unless otherwise noted):

1 See Reconciliation of Non-GAAP Measures table for detailed reconciliation of reported results to adjusted measures.

"Flowserve produced solid operating results for the 2015 third quarter against a persistently challenging market environment, which included constrained global capital spending, a further reduction in oil prices, weakness in our short cycle and emerging markets and the strong U.S. dollar," said Mark Blinn, Flowserve's president and chief executive officer. "Operationally, we continued to execute at a high level as evidenced by our strong margin performance."

Read the full Flowserve Corporation Reports Third Quarter 2015 Results article.

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