UPDATE: Fluor Q2 Profit Drops 2.6%
Fluor (NYSE: FLR) reported a 2.6% drop in its second-quarter earnings.
Fluor now projects earnings of $3.50 to $3.80 per share for the year, versus its earlier forecast of $3.40 to $3.80 per share.
Fluor's quarterly profit dropped to $161.2 million, from $165.5 million, in the year-ago period. On a per-share basis, Fluor earned $0.95 per share.
Its revenue climbed 18% to $7.13 billion. However, analysts were expecting earnings of $0.92 per share on revenue of $6.72 billion.
Its gross margin declined to 4.5% from 5.1%.
Fluor shares closed at $49.72 yesterday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.