Fluor Posts Higher 3rd-Quarter Earnings
Fluor Corp. posted higher operating earnings for the third quarter, but reduced its fourth-quarter forecasts to reflect its sluggish mining and telecom businesses.
The Aliso Viejo company earned $44.8 million, or 56 cents a share, in the third quarter, up from $28.2 million, or 38 cents, in the comparable period a year earlier. Analysts had projected earnings of 50 cents a share, according to a survey by Thomson Financial/First Call. Revenue rose slightly to $2.2 billion from $2.18 billion. Including a loss from discontinued operations, Fluor reported a net loss of $54.5 million, or 68 cents a share, compared with a loss of $12.7 million, or 17 cents, a year ago.
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The stock fell $4.19 to close at $40.68 a share on the New York Stock Exchange.
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