CHARLOTTE, N.C. (AP) _ SPX Flow Inc. (FLOW) on Tuesday reported a first-quarter loss of $5.3 million, after reporting a profit in the same period a year earlier.
The Charlotte, North Carolina-based company said it had a loss of 12 cents per share. Earnings, adjusted for one-time gains and costs, were 6 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The engineered flow components maker posted revenue of $289.5 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $303.4 million.
SPX Flow shares have declined 37% since the beginning of the year. The stock has dropped 21% in the last 12 months.