We recently published 10 Stocks Investors Are Dumping Fast. Fluor Corporation is one of the worst-performing stocks on Friday.
Fluor Corp. snapped a two-day winning streak on Friday, shedding 27.04 percent to close at $41.42 apiece as investors soured on its lower growth outlook for the rest of the year, coupled with a broader market pessimism.
In a statement, Fluor Corporation reduced its adjusted EBITDA guidance for full-year 2025 to $475-$525 million versus the $575-675 million previously.
Adjusted EPS was also pegged at $1.95-$2.15, lower than the $2.25-$2.75 projected previously.
In the second quarter of the year, attributable net earnings jumped by 1,355 percent to $2.46 billion from only $169 million in the same period last year. Total revenues dropped by 5.9 percent to $3.98 billion from $4.23 billion previously.
In the six-month period, attributable net income climbed by 873 percent to $2.2 billion from $228 million, while total revenues were flat at $7.9 billion.
“Unfortunately, our results for the quarter were impacted by three long-standing infrastructure projects and a shift in expected capital spending from some clients. We view this shift as temporary and believe that our long-term strategy centered around disciplined project delivery in growth markets will continue to benefit our clients and our shareholders,” said Fluor Corporation CEO Jim Breuer.
