Why Fluor Stock Tanked by Almost 14% Today

Veteran engineering and industrial conglomerate Fluor (NYSE: FLR) couldn't engineer good news for its shareholders on Friday. That morning the company unveiled its latest set of quarterly figures, and the market just didn't like the looks of them. Fluor's share price fell by nearly 14%, on a day when the benchmark S&P 500 index was in the black with a 0.3% increase.Fluor divulged that its third-quarter revenue amounted to $4.09 billion, a number not greatly higher than the $3.96 billion it earned in the same period of 2023. Of its four business lines, the current largest one -- urban solutions -- saw a 35% increase in its take (to $1.93 billion), while No. 2 (energy solutions) declined by 8% for a contribution of $1.43 billion. Yet analysts tracking the stock were expecting a better showing. Collectively, they were modeling quarterly revenue of over $4.7 billion for Fluor. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool