Fluor reported earnings of $1 a share for the second quarter, missing analysts' estimates of $1.05 a share for the quarter. Revenue fell 8.6% year over year to $4.8 billion for the quarter, below analysts' estimates of $5.01 billion.
The company lowered its full year 2015 EPS estimates to a range of $4.05 to $4.35 a share, down from a range of $4.40 to $5 a share due to relatively low new awards during the year and delays in the full release of major projects due to volatility of oil prices and mined commodities. Analysts expect Fluor to report earnings of $4.41 a share for 2015.
Fluor also announced that it agreed to sell half of its Spanish operations to a leading Spanish construction company for 39 million euros.
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 a number of strengths, 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 largely solid financial position with reasonable debt levels by most measures, notable return on equity and growth in earnings per share. We feel its strengths outweigh the fact that the company shows weak operating cash flow."
You can view the full analysis from the report here: FLR Ratings Report