These results beat the average Wall Street analyst expectation for earnings of 93 cents per share on revenue of $5.76 billion.
Fluor's First-Quarter Business Segment Breakdown
Oil and gas segment revenue rose 29% to $3.4 billion
Industrial and infrastructure segment revenue jumped 48% to $1.2 billion
Global services revenue fell 23% to $542 million
Power segment revenue slid 20% to $339 million from $422 million
Despite beating estimates in the quarter, Fluor reduced its 2009 full-year profit guidance, now expecting earnings of $3.80 to $4.10 per share. The company had previously forecast $3.90 to $4.20 per share, while analysts, on average, expect $3.76 per share.
Fluor Corp shares rose $1.92, or +4.46%, in morning trading Tuesday.
We recently added shares of FLR to our "Recommended" list and were happy with this quarter's results. We will closely monitor the news flow and keep subscribers updated as to any ratings changes.
Fluor Corporation is a "recommended" dividend stock, holding a Dividend.com DARS Rating of 3.5 out of 5 stars.
Ctrip Shares Spike on Earnings Results
(CTRP - Get Report)
were up 19% in early trading after the leading travel service provider in China said revenue rose to $63 Million, a 17% increase from the same period in 2008.
Hotel reservation revenue amounted to US$27 million for the first quarter of 2009, representing a 9% increase from the same period in 2008 primarily driven by a 17% increase in hotel room reservation volume, which was partially offset by a decrease in commission per room.
Air-ticketing revenue for the first quarter of 2009 were US$27 million, representing a 16% increase from the same period in 2008 primarily driven by a 40% increase in air-ticketing sales volume, which was partially offset by a decrease in commission per ticket.