Engineering & Construction Company Fluor Misses Big On Q3 Earnings And Revises 2024 Guidance As Project Delays Bite

Fluor Corp (NYSE:FLR) shares plummeted after the company reported third-quarter results below street expectations.

FLR’s revenue grew 3.3% year over year to $4.09 billion, missing the consensus of $4.738 billion. Adjusted EPS declined to 51 cents from $1.02 a year ago, missing the consensus of 76 cents.

Sales by segment: Energy Solutions $1.428 billion (-8.1% YoY), Urban Solutions $1.93 billion (+34.9% YoY), Mission Solutions $635 million (-3.1% YoY) and Others $100 million (-69.1% YoY).

FLR recorded a total segment profit of $117 million, compared to $276 million a year ago. The margin contracted 411 ...

Full story available on Benzinga.com