SPX FLOW Reports Third Quarter 2016 Results
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S&P Downgrades SPX Flow (FLOW) to 'BB-'; Outlook Negative
November 4, 2016 1:12 PM EDTS&P Global Ratings said that it has lowered its corporate credit rating on SPX Flow Inc. (NYSE: FLOW) to 'BB-' from 'BB'. The outlook is negative.
At the same time, we lowered our issue-level rating on the company's $600 million senior unsecured notes to 'BB-' from 'BB'. The '4' recovery rating remains unchanged, indicating our expectation for negligible (30%-50%; lower half the range) recovery in a default scenario.
"The downgrade reflects SPX FLOW's weaker-than-expected operating performance through the first... More
SPX Flow (FLOW) Reports Q3 EPS of $0.34; Updates Outlook
November 2, 2016 6:35 AM EDTSPX Flow (NYSE: FLOW) reported Q3 EPS of $0.34. Revenue for the quarter came in at $466.8 million, versus $589.5 million reported last year.
GUIDANCE:
SPX Flow updatess FY2016 EPS to $1.27-$1.47.
"We have made good progress this year executing on our realignment program and transitioning to an operating structure that will establish a strong foundation for long-term success. We realized $16 million of year-over-year cost... More
