Flowserve Corp. (NYSE: FLS), Dallas, TX, reported sales for the second quarter of $1.2 billion, a decrease of 5.1 percent year-over-year. Profit decreased 39.3 percent to $75 million.
“Flowserve produced solid operating results for the 2015 second quarter against a backdrop of reduced global capital spending in our served end markets, increased headwinds in some emerging markets, low oil prices and a strong U.S. dollar,” said Mark Blinn, Flowserve’s president and CEO.
Year-to-date sales were $2.2 billion, a decrease of 5 percent over the prior-year period. Profit decreased 55.6 percent to $102.7 million.