Fluor Getting Smacked (FLR)

Shares of Fluor Corporation

are getting hit hard today, as the company announced it would take a charge in Q3. This morning Fluor announced it would take a 90 cent per share charge due to increased costs of Greater Gabbard Offshore Wind Project. It subsequently lowered its fiscal 2010 EPS guidance to $2.20-2.50. Analysts had been expecting earnings per share for the full year of $3.05. Fluor provides engineering, procurement, construction, maintenance, and project management services worldwide.