Why Fluor Corporation (FLR) Crashed on Tuesday?

We recently published a list of 10 Stocks Kick Off Trading Week With Losses. In this article, we are going to take a look at where Fluor Corporation (NYSE:FLR) stands against other stocks kick off trading week with losses.

Wall Street’s main indices began the shortened trading week on a lackluster note, albeit finishing in the green, as investors continued to digest corporate earnings results.

The S&P 500 led the charge, recording a modest 0.24 percent gain. However, the Dow Jones and the tech-heavy Nasdaq posted gains of only 0.02 percent and 0.07 percent, respectively.

Ten companies performed poorly on Tuesday amid a series of negative catalysts that disappointed investors. In this article, we identified the 10 worst performers and detailed the reasons behind their drop.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A close-up of an engineer surveying a large-scale construction project.

Fluor Corporation (NYSE:FLR)

Fluor Corporation (NYSE:FLR) fell for the fifth consecutive day on Tuesday, losing another 8.41 percent to finish at $39.75 apiece as investors sold off positions, shunning the company’s strong earnings performance last year, and instead focusing on its inability to meet analyst expectations.

In the past quarter, FLR said it achieved $1.86 billion in net income attributable to the company, reversing a net loss of $21 million in the same period last year, as revenues increased 11.5 percent to $4.26 billion from $3.82 billion. Revenue figures, however, fell short of the $4.48 billion forecast.

Meanwhile, Fluor Corporation (NYSE:FLR) saw net income attributable to the company expand by 1,443 percent to $2.145 billion from $139 million in 2023, as revenues inched up by 5 percent to $16.3 billion from $15.47 billion year-on-year.

Earnings per share stood at 48 cents, falling short of the 78-cent consensus.

Overall, FLR ranks 8th on our list of stocks kick off trading week with losses. While we acknowledge the potential of FLR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as FLR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.