Flowserve Updates FY16 Adj. EPS Guidance - Quick Facts

(RTTNews) - Flowserve Corp. (FLS) tightened its 2016 adjusted EPS target range of $2.40 to $2.60 per share. The company expects full year 2016 Adjusted EPS to be weighted toward the second half of the year. In April, the company projected its full year EPS to be in the range of $2.40 to $2.75. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.50. Analysts' estimates typically exclude special items. The company reaffirmed its expected 2016 revenues to decline 7 to 14 percent year-over-year, including a forecasted 2 percent currency headwind.