SPX Flow (FLOW) Tops Q1 EPS by 26c

SPX Flow (NYSE: FLOW) reported Q1 EPS of $0.61, $0.26 better than the analyst estimate of $0.35. Revenue for the quarter came in at $363.8 million versus the consensus estimate of $343.04 million.

Outlook:

Following the strong organic revenue growth achieved in the first quarter, SPX FLOW is raising its expectation for full-year organic growth to the high end of the prior range of low-single to mid-single digits. The company remains focused on profitable growth and high return investments both in 2021 and over the long-term as outlined at its recent investor day. This strategy is generating improved quality and mix of revenue which was evident in the first quarter with gross margin rising approximately 40 basis points year-over-year. When combined with its 80/20 segmentation, project selectivity and productivity initiatives, the company expects to achieve sequential operating margin improvement throughout 2021.

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

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