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Friday, May 05, 2017 5:49:06 PM
Fluor (FLR -7.8%) is sharply lower after Q1 earnings plunged 42% Y/Y and fell far short of analyst expectations, which the company attributes to a shift from higher margin engineering activities to lower margin construction.
FLR also cuts its FY 2017 EPS guidance range to $2.25-$2.75 from its earlier outlook for $2.75-$3.25 and below the $2.90 analyst consensus estimate.
Q1 revenues from the Energy, Chemicals and Mining segment fell 5.8% Y/Y to $2.3B, while revenues in Industrial, Infrastructure and Power jumped 44% to $1.2B.
FLR says it "continue(s) to experience headwinds as it relates to the timing of client capital decisions as we come off of one of the lowest commodity cycles this industry has seen in recent history."
Recent FLR News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/23/2024 08:35:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/06/2024 08:05:08 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/05/2024 05:35:27 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/14/2024 09:15:19 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/14/2024 08:40:48 PM
- Fluor Announces Leadership Changes • Business Wire • 08/05/2024 11:00:00 AM
- Fluor Reports Second Quarter 2024 Results • Business Wire • 08/02/2024 09:50:00 AM
- Fluor Awarded Contract for Next Phase of Engineering and Design for Small Modular Reactor Power Plant in Romania • Business Wire • 07/29/2024 08:11:00 PM
- Fluor Joint Venture Celebrates Connection of Gordie Howe International Bridge Deck • Business Wire • 07/24/2024 08:09:00 PM
- Fluor Joint Venture Moves One Step Closer to Completion and Startup of LNG Canada Train One with Placement of Final Weld • Business Wire • 07/08/2024 08:06:00 PM
- Fluor Corporation to Hold Second Quarter Earnings Conference Call • Business Wire • 07/02/2024 10:50:00 AM
- Fluor to Provide EPCM Services for Phase One of Northvolt’s Large-Scale Lithium-Ion Battery Facility in Germany • Business Wire • 06/27/2024 08:04:00 PM
- Fluor Team Awarded National Nuclear Security Administration’s Pantex Plant Management & Operating Contract • Business Wire • 06/14/2024 02:29:00 PM
- Fluor to Participate in Upcoming Investor Conferences • Business Wire • 05/21/2024 12:30:00 PM
- Fluor-led Joint Venture Breaks Ground on Phase 1 of I-35 NEX South Project in San Antonio • Business Wire • 05/16/2024 12:03:00 PM
- Fluor Opens Second Office in India to Increase Execution Capacity • Business Wire • 05/15/2024 08:05:00 PM
- Fluor Reports First Quarter 2024 Results • Business Wire • 05/03/2024 10:50:00 AM
- Fluor and SunCoke Energy Renew Maintenance and Capital Project Contract • Business Wire • 04/29/2024 08:02:00 PM
- Renewable Fuels Project in Canada Begins Production • Business Wire • 04/19/2024 05:25:00 PM
- Fluor Selected for Position on Global Contingency Services Multiple Award Contract III • Business Wire • 04/17/2024 08:42:00 PM
- Fluor Awarded U.S. Air Force Contract Augmentation Program V Task Order for Tinian • Business Wire • 04/10/2024 01:18:00 PM
- Fluor Announces First Gold from Gold Fields’ Salares Norte Mining Project in Chile • Business Wire • 04/03/2024 01:18:00 PM
- Fluor Corporation to Hold First Quarter Earnings Conference Call • Business Wire • 04/02/2024 10:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 10:54:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 10:53:55 PM
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