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Why Fluor (FLR) Stock Is Down In After-Market Trade

NEW YORK (TheStreet) -- Shares of Fluor Corp.  (FLR) are down -2.83% to $73.40 after reporting 2014 first quarter results.

Net earnings were $149 million, or 92 cents per diluted share, compared to $166 million, or $1.02 per diluted share a year ago.

Consolidated segment profit for the quarter was $268 million, compared to $294 million in the first quarter of 2013.

Must Read: Warren Buffett's 10 Favorite Growth Stocks

 

Revenue for the first quarter was $5.4 billion, down from $7.2 billion last year, mainly due to a significant reduction in revenue from the Industrial & Infrastructure segment's mining and metals business line.

Consolidated backlog at the end of the quarter rose to $40.2 billion, up $5.3 billion over last quarter, and up from $37.5 billion a year ago.

TheStreet Ratings team rates FLUOR CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate FLUOR CORP (FLR) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • Powered by its strong earnings growth of 3466.66% and other important driving factors, this stock has surged by 36.57% over the past year, outperforming the rise in the S&P 500 Index during the same period. Turning to the future, naturally, any stock can fall in a major bear market. However, in almost any other environment, the stock should continue to move higher despite the fact that it has already enjoyed nice gains in the past year.
  • FLUOR CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, FLUOR CORP increased its bottom line by earning $4.06 versus $2.69 in the prior year. This year, the market expects an improvement in earnings ($4.40 versus $4.06).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Construction & Engineering industry. The net income increased by 3956.5% when compared to the same quarter one year prior, rising from -$4.33 million to $166.80 million.
  • FLR's debt-to-equity ratio is very low at 0.14 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.10, which illustrates the ability to avoid short-term cash problems.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Construction & Engineering industry and the overall market, FLUOR CORP's return on equity exceeds that of both the industry average and the S&P 500.
  • You can view the full analysis from the report here: FLR Ratings Report
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