Fluor Corp. (FLR) Misses Q1 EPS by 5c, Lowers Guidance

Fluor Corp. (NYSE: FLR) reported Q1 EPS of $0.92, $0.05 worse than the analyst estimate of $0.97. Revenue for the quarter came in at $5.38 billion versus the consensus estimate of $6.42 billion.

Outlook

Overall, the first quarter was consistent with the Company’s prior guidance for a slow start in 2014. While Oil & Gas financial performance in the first quarter exceeded our expectations, and mining project closeouts helped boost Industrial & Infrastructure performance, results for Power, Government and Global Services fell short. The outlook for Oil & Gas is on track and very positive; however, after assessing the full year outlook for Fluor’s overall portfolio, the Company is adjusting its full year 2014 EPS guidance downward to a range of $4.10 to $4.45, from the prior range of $4.10 to $4.60 per diluted share.

For earnings history and earnings-related data on Fluor Corp. (FLR) click here.

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