David Seaton
Fluor shares plunged in extended trading after the company said it expects third-quarter revenue to come in below Wall Street expectations.
The company announced preliminary third-quarter results on Wednesday, saying it expects revenue of about $4.6 billion. Analysts had projected third-quarter revenue of about $4.95 billion, according to a consensus estimate from Refinitiv.
The engineering and construction company said its preliminary results include "pre-tax charges of $46 million relating to close out efforts on a downstream project in Europe and $35 million for forecast revisions on a gas-fired power project in Citrus County, Florida." Fluor said its preliminary figures also factor in a $124 million pre-tax benefit related to its sale of its Seagreen offshore investment.
Fluor is scheduled to report finalized results on Nov. 1.
The stock fell nearly 13 percent in after-hours trading. In the past 12 months, however, Fluor shares have climbed 32 percent as of Wednesday's close.
