SPX Flow Inc. announced Monday that it expects its earnings and revenue to be less than its previous guidance for the third quarter.

The publicly traded company expects revenue for the third quarter ended Oct. 1, 2016, to be approximately $467 million, compared with the previous guidance range of $490 million to $510 million.

The company also expects its earnings per share in the range of 30 cents to 35 cents, as compared with the previous guidance range of 40 cents to 50 cents per share.

The company said its orders declined by 6 percent and its backlog declined by 2 percent during the quarter.

“These challenges were partially offset by solid progress on cost savings achieved in conjunction with our global realignment program,” said Chief Executive Officer Marc Michael in a statement.

The company said it’s assessing its fourth-quarter projections.

SPX Flow supplies custom engineered equipment that assist in food and beverage manufacturing, oil and gas exploration, distribution and refinement, and power generation.

The company has approximately $2 billion in annual revenues, operations in over 35 countries and has sales in over 150 countries.

Shares of SPX Flow traded down 2.45 percent Monday, closing at $26.28. SPX Flow has a one-year low of $14.85 and a one-year high of $38.40.

The one year return on SPX Flow stock is minus 27.96 percent.

SPX Flow will release its third quarter 2016 financial results on Nov. 2, 2016 during a conference call via thecompany’s website at 8:30 a.m. EST.