Dresser-Rand said Q1

Investor's Business Daily

Dresser-Rand (DRC) said Q1 EPS rose 39% to 43 cents, topping forecasts. The maker of equipment used in the oil, gas and petrochemical industries said revenue rose 16% to $766.4 mil, on higher volume and slightly higher prices. It reiterated guidance for '13 new-unit bookings of $1.8 bil to $2 bil, with most coming in the back half. Separately, research firm Guggenheim downgraded the company to neutral from buy. Shares fell 5.7% to 53.20.

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