ADVFN - Advanced Financial Network.
HOME» NYSE » F » FLR Stock Price » FLR Stock News

Fluor Share News

 Fluor (new) Stock Price
FLR Stock Price
 Fluor (new) Stock Chart
FLR Stock Chart
 Fluor (new) Stock News
FLR Stock News
 Fluor (new) Company Information
FLR Company Information
 Fluor (new) Stock Trades
FLR Stock Trades

Fluor 4Q Profit Falls 21% On Cost Increases, Reduced Activity

DOW JONES NEWSWIRES Fluor Corp.'s (FLR) fourth-quarter profit missed analysts' estimates, falling 21% on reduced oil-and-gas segment activity and substantial cost increases on a wind farm project. Shares fell 4.5% to $67.40 in recent trading. Despite those losses, the stock has risen 18% in the past three months. The engineering and construction company was mostly resilient during the recession but has suffered in recent quarters with reduced revenue and sagging results at its oil-and-gas business. Fluor reported a profit of $117.1 million, or 65 cents a share, down from $148.7 million, or 82 cents a share, in the year-earlier period. The latest quarter included a $180 million charge from the Greater Gabbard offshore wind farm and a $152 million tax benefit from the restructuring of a foreign subsidiary. Revenue slipped 3.9% to $5.27 billion. Analysts polled by Thomson Reuters most recently forecast earnings of 75 cents a share of $5.66 billion of revenue. New orders more than doubled to $7.09 billion, compared with $3.32 billion a year earlier. Backlog rose $1.9 billion during the quarter to $34.9 billion, up 30% from a year earlier. Oil-and-gas segment revenue dropped 16% and earnings halved on reduced project activity. Industrial and infrastructure revenue climbed 6.2%, although the segment swung to a loss of $102.4 million on substantial cost increases at the Greater Gabbard wind farm. The company reiterated its 2011 earnings target based on new awards and backlog growth. -By Ian Thomson, Dow Jones Newswires; 212-416-2314; ian.thomson@dowjones.com

Stock News for Fluor (FLR)
DateTimeHeadline
07/30/201517:21:46Automatic Shelf Registration Statement of Securities of Well-known...
07/30/201516:18:23Current Report Filing (8-k)
07/30/201516:07:00Fluor and Sacyr Form New Joint Venture in Spain
07/30/201516:05:00Fluor Reports Second Quarter Results
07/29/201518:13:00Fluor Corporation Announces Quarterly Dividend
07/28/201509:00:00Fluor to Present at Jefferies Industrials Conference
07/27/201516:11:00Fluor’s Eagle P3 Project Commuter Rail Maintenance Facility i...
07/23/201516:15:12Current Report Filing (8-k)
07/22/201516:08:00Fluor Awarded Power Maintenance Services Contract for Luminant’s C...
07/07/201515:33:38Statement of Changes in Beneficial Ownership (4)
07/07/201515:06:05Statement of Changes in Beneficial Ownership (4)
07/07/201515:02:31Statement of Changes in Beneficial Ownership (4)
07/07/201514:57:30Statement of Changes in Beneficial Ownership (4)
07/07/201514:54:08Statement of Changes in Beneficial Ownership (4)
07/07/201514:51:22Statement of Changes in Beneficial Ownership (4)
07/07/201514:44:48Statement of Changes in Beneficial Ownership (4)
07/01/201517:39:00Fluor Selected for Six-Year Position on the Air Force Contract...
07/01/201509:00:00Fluor Corporation to Hold Second Quarter Earnings Conference...
06/30/201509:14:00Fluor Consortium Selected as Preferred Bidder to Manage and Operate...
06/23/201507:22:00Fluor von BASF als weltweiter Entwicklungspartner ausgewählt

Fluor and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad