Fluor Corp. (FLR) Misses Q2 EPS by 5c, Lowers FY EPS Guidance

Fluor Corp. (NYSE: FLR) reported Q2 EPS of $1.00, $0.05 worse than the analyst estimate of $1.05. Revenue for the quarter came in at $4.81 billion versus the consensus estimate of $5.01 billion.

Fluor Corp. sees FY2015 EPS of $4.05-$4.35, versus prior guidance of $4.40-$5.00 and the consensus of $4.42.

Outlook

The company continues to win and execute on numerous front-end engineering awards, particularly in oil and gas, and is encouraged by the positive comments from clients in regards to our strategy. However, relatively low new awards this year and delays in the full release of major projects due to the volatility mentioned above are placing pressure on expected results for 2015. Taking into consideration these factors and their impact on all of our business segments, the company is reducing its 2015 guidance range of $4.40 to $5.00 per diluted share to $4.05 to $4.35 per diluted share. This guidance excludes the effects of the previously announced termination and settlement of Fluor’s U.S. defined benefit pension plan which is expected in the latter part of 2015.

For earnings history and earnings-related data on Fluor Corp. (FLR) click here.

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