This Day On The Street
Continue to site
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

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

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 This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.01 0.00%
FB $98.19 -1.60%
GOOG $682.74 0.00%
TSLA $142.31 -3.80%
YHOO $27.05 0.00%


Chart of I:DJI
DOW 16,027.05 -177.92 -1.10%
S&P 500 1,853.44 -26.61 -1.42%
NASDAQ 4,283.7530 -79.3910 -1.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs