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Foster Wheeler 1Q Profit Falls 46 Percent

Stock quotes in this article: FWLT  

ZUG, Switzerland (AP) — Foster Wheeler AG said Wednesday its first-quarter profit fell 46 percent as the construction and engineering company's revenue slumped and its results were hurt by unfavorable currency comparisons.

The Swiss contractor earned $72.9 million, or 57 cents per share, in the quarter that ended March 31, down from $138.5 million, or 95 cents per share, a year earlier.

Revenue fell 30 percent to $1.26 billion from $1.8 billion. Analysts polled by Thomson Reuters had expected revenue of $1.51 billion. ...

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