Fluor Corporation (NYSE: FLR) today announced financial results for its third quarter ended September 30, 2016. Earnings from continuing operations attributable to Fluor for the third quarter were $5 million, or $0.03 per diluted share, compared to $176 million, or $1.21 per diluted share a year ago. Results for the quarter include an after-tax charge of $154 million, or $1.10 per diluted share, for estimated cost increases on a petrochemical facility in the United States. Consolidated segment profit for the quarter was $25 million, including the impact of the charge mentioned above, down from $240 million a year ago. Third quarter revenue was $4.8 billion, up from $4.4 billion in the prior year. New awards for the quarter were $7.0 billion, including $5.6 billion in Energy, Chemicals & Mining and $955 million in Government. Consolidated ending backlog of $44.3 billion compares to $41.7 billion a year ago. "We are very disappointed in the construction progress on a fixed-price Gulf Coast project that led to a significant charge this quarter," said David Seaton, Fluor chairman and chief executive officer. "Looking ahead to 2017, we remain focused on project execution and continuing to capture key prospects as they develop across our businesses." Corporate G&A expense for the third quarter of 2016 was $27 million, compared to $35 million a year ago. Fluor's cash and marketable securities balance at the end of the third quarter was $2.1 billion. Outlook As a result of the charge in Energy, Chemicals & Mining, the Company is revising its 2016 guidance for EPS to a range of $2.20 to $2.40 per diluted share, from the previous range of $3.25 to $3.50 per diluted share. For 2017, the Company is establishing its initial EPS guidance at a range of $2.75 to $3.25 per diluted share. Guidance for 2017 assumes continued challenges in our commodity focused segment, offset by increasing opportunities in infrastructure, industrial and government.