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Fluor Corporation

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Fluor’s third-quarter adjusted earnings from continuing operations came in at $1.13 per share, beating the Zacks Consensus Estimate by 30%. However, the figure was down 6.6% from the prior-year tally. Increase in cost of revenue, interest expense and high charge related to a project during the quarter proved to be a drag on the bottom line. Softness in commodity prices, along with a dismal outlook for the energy and mining markets pose threats that can significantly hamper the company’s top-line growth. Also, an increased level of irrational bidding in feed pricing, along with customer’s tendency to settle for a lower contract price, is adding to the company’s woes. However, on the flip side, Fluor’s robust backlog level as well as lucrative award wins in the Government and Infrastructure business lines are likely to act as primary growth drivers, going forward.


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