SPX Flow (FLOW) Reports Q3 EPS of $0.42; Updates FY17 Outlook, Reaffirms FY18

SPX Flow (NYSE: FLOW) reported Q3 EPS of $0.42, versus ($0.11) reported last year. Revenue for the quarter came in at $491.1 million, versus $466.8 million reported last year.

"Today we updated our 2017 full year guidance to reflect our results through the first nine months and our outlook for the fourth quarter. We increased our full year adjusted free cash flow guidance to a range of $150 to $160 million, up from our previous guidance range of $130 to $150 million, reflecting the strength of our year-to-date free cash flow performance. We modestly lowered our full year revenue target to a range of $1.920 to $1.940 billion, as compared to our previous target range of $1.925 to $1.975 billion, due primarily to delays on the timing of certain projects in backlog. On this level of revenue, our adjusted EBITDA is now expected to be between $193 and $200 million, compared to our previous guidance range of $195 to $215 million."

"For 2018, we reaffirmed our financial framework, targeting revenue of $2.000 to $2.050 billion, or 4% to 6% growth from the mid-point of our updated 2017 guidance, and EBITDA of $240 to $260 million. As we plan for 2018 and beyond, we are prioritizing investments in our highest value product lines and emphasizing continuous improvement actions across the enterprise to drive margin expansion. We see potential for significant value creation as we continue our journey to transform SPX FLOW into a high-performing operating enterprise," Michael concluded.

For earnings history and earnings-related data on SPX Flow (FLOW) click here.

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