IRVING, Texas (AP) _ Flowserve Corp. (FLS) on Thursday reported third-quarter profit of $51 million.

The Irving, Texas-based company said it had profit of 39 cents per share. Earnings, adjusted for non-recurring costs, were 50 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The company that makes pumps, valves and other parts for the oil and gas industries posted revenue of $924.3 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $892.3 million.

Flowserve shares have dropped 37% since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 9%. In the final minutes of trading on Thursday, shares hit $31.58, a fall of 36% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FLS at https://www.zacks.com/ap/FLS

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