Fluor Earnings: Here’s Why Shares are Down Now
Fluor Corporation (NYSE:FLR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.03%.
Fluor Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 12.09% to $1.02 in the quarter versus EPS of $0.91 in the year-earlier quarter.
Revenue: Rose 14.24% to $7.19 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Fluor Corporation reported adjusted EPS income of $1.02 per share. By that measure, the company beat the mean analyst estimate of $0.96. It beat the average revenue estimate of $6.91 billion.
Quoting Management: “We are pleased with our financial results for the quarter, including $6.5 billion of new awards,” said Chairman and Chief Executive Officer David Seaton. “We are particularly encouraged by the strength of our Oil & Gas business.”
Key Stats (on next page)…
Revenue increased 2.32% from $7.02 billion in the previous quarter. EPS decreased 35.44% from $1.58 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.03 to a profit $1.02. For the current year, the average estimate is a profit of $4.17, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)