This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Fluor's 3Q Profit Up 7 Percent, Warns On 2013

Stocks in this article: FLR

IRVING, Texas (AP) â¿¿ Shares of Fluor Corp. fell in after-hours trading Thursday after the engineering and construction company issued an outlook for 2013 that mostly fell below analysts' expectations.

Fluor warned that the slow global economy had "tempered" its view for next year. In the July-September quarter, $2 billion worth of mining projects were canceled.

For that period, net income was $144.6 million, or 86 cents per share, up 7 percent from $135.4 million, or 78 cents per share, a year ago. Revenue rose 18 percent to $7.14 billion from $6.04 billion.

Analysts, on average, predicted earnings of 95 cents per share on revenue of $7.17 billion, according to FactSet.

The Irving, Texas, company said revenue increased in its oil and gas, industrial and infrastructure, global services and power segments. Revenue fell in the government group in part because of lower-than-expected award fees from a contract in Afghanistan.

For the full year, Fluor expects profit of $3.60 to $3.80 per share, mostly below analysts' prediction of $3.77 per share. And for 2013, Fluor predicts earnings of $3.85 to $4.35 per share. Analysts have forecast $4.33 per share.

"Although we see growth in 2013, the anticipated resurgence in oil and gas is not expected to fully benefit financial results until 2014," CEO David Seaton said.

Fluor shares fell $1.82, or 3.2 percent, to $55.84 in after-market trading. The stock closed up $1.81 to $57.66 in regular trading, before results were released.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs