Revenue in the second quarter came in at $4.1 billion, well below … On the one hand, of course the dividend cut is disheartening. What happened Shares of Fluor (NYSE: FLR) dropped more than 25% on Tuesday morning after the engineering contractor disclosed a Securities and Exchange Commission investigation into … On the other hand, Fluor has been earning only about a 3% gross profit margin lately (and losing close to 3% of sales, net). Government. Shares of engineering and construction giant Fluor (NYSE:FLR) collapsed this morning, falling more than 11% before paring those losses back to a still-disheartening 9.2% loss as of 11:45 a.m. EDT. There is value in Fluor's business, and the company sounds optimistic about how its internal turnaround is progressing. 1957 . Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Discover historical prices for FLR stock on Yahoo Finance. Fluor, President of the corporation, bought the first 100 shares of the newly listed stock. What happened Shares of engineering and construction giant Fluor ( NYSE:FLR ) collapsed this morning, falling more than 11% before paring those … For one thing, Fluor management intends to sell its "select ... government and equipment businesses ... [and] monetize surplus real estate and non-core investments," hoping to thereby generate "in excess of $1 billion" in cash. What happened. The stock, with the ticker symbol "FLR" opened on the NYSE at 22 1/4. It depends. Fluor said it expects to earn between $1.40 and $1.60 per share in 2020, compared to a $1.51-per-share analyst consensus. The … Fluor Corporation (NYSE: FLR) announced today that Stork, part of Fluor’s Diversified Services segment, was awarded a 26-month maintenance contract extension by Sitech Manufacturing Services in the Netherlands. The company also plans to cut annual "overhead" costs by some $100 million. The latest closing stock price for Fluor as of January 11, 2021 is 17.66. Why Fluor Stock Is Cratering Today. An ongoing strategic review of the business led to significant one-time pre-tax charges that impacted the bottom line. Fluor's strong order backlog and high expectations from the incoming new CEO have renewed interest in the construction stock. Fluor unloaded lousy news on its investors. What happened. The best news for investors, therefore, would appear to be that we won't have to wait more than six months or so to see if Fluor can turn things around. 760,394 shares of common stock were listed at $2.50 par value. It is the largest engineering & construction company in the Fortune 500 rankings and is listed as 164th overall. Shares of Fluor (NYSE:FLR) dropped more than 25% on Tuesday morning after the engineering contractor disclosed a Securities and Exchange Commission investigation into its past accounting and financial reporting. The SEC probe just adds to the uncertainty and has sparked the latest sell-off. The company did provide some preliminary 2019 data, saying that it ended the year with a backlog of $32.7 billion. Revenue in the second quarter came in at $4.1 billion, well below … But until more is known about the extent of the SEC probe and what the government finds, it's hard to get excited about buying in. With the accounting mess also … So what. Given the ongoing review, Fluor said it does not expect to file its form 10-K annual report in February as expected. Market data powered by FactSet and Web Financial Group. Why Fluor Stock Crashed More Than 30% in May The engineering contractor continues to face execution issues and doubts remain over its backlog. On March 31, Fluor's backlog topped $39 billion. Well, there was good news and bad news. Stock Advisor launched in February of 2002. Before markets opened on Tuesday, Fluor said the SEC is conducting an investigation and has requested documents and information related to projects for which the company recorded charges during the second quarter of 2019. What happened Shares of Fluor (NYSE:FLR) got crushed today, down by 28% as of 2 p.m. EDT, after the engineering and construction company … The Fluor 52-week high stock price is 20.89, which is 18.3% above the current share price. Shares of Fluor (NYSE: FLR) got crushed today, down by 28% as of 2 p.m. EDT, after the engineering and construction company reported disappointing second-quarter earnings results. The construction and engineering company continues to disappoint. Fluor Corporation stock is made available on both the New York Stock Exchange (NYSE) and the Pacific Coast Stock Exchange. Fluor also said it was calling off the planned sale of its government business. Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Fluor Stock Just Fell Through It (the Floor, That Is) @themotleyfool #stocks $FLR, Fluor Corp (FLR) Q3 2020 Earnings Call Transcript, 3 Big Reasons Fluor Stock Jumped 52.2% in November, Why Shares of Construction and Materials Companies Are Falling Today, Why Fluor Stock Jumped 28.8% in October and Is Rallying Further, Copyright, Trademark and Patent Information. What happened. Summit stock, on the other hand, looks less attractive at 21 times forward earnings (and 25 times trailing). Mining & Metals. Lou has followed the markets for more than two decades, developing extensive contacts including industry leaders, consultants, regulators, and labor representatives. Returns as of 01/14/2021. With Fluor shares trading for roughly five times forward earnings, and Cemex stock under six times forward earnings, there’s arguably good reason for investors to get excited about those two. The reason: This morning, Fluor announced the results of a "strategic review" -- and investors didn't like what it had to say. If I had to take a guess, I'd say that's the announcement that most spooked investors today, because it turns Fluor from a company paying an above-average 4% dividend into one paying an S&P 500-average 2% dividend. What happened. Last week’s decline in the stock price -- 24% in a single day -- was the steepest since at least 2000, Bloomberg reported. Release of full-year Financial statements because of the business led to significant one-time pre-tax charges impacted! Of that, its CEO stepped down … Discover historical prices for FLR stock on Yahoo.! For FLR stock on Yahoo Finance historical prices for FLR stock on Yahoo Finance Fluor it... Detailed information including FLR news, historical charts and realtime prices statements because the... Was it that Fluor said it does not expect to file its form 10-K annual in... 'S decline were its first-quarter results, which is 18.3 % above the current share price by 11:15 EDT... Costs by some $ 100 million the Corporation, bought the first 100 shares of the business led to one-time! Tip: Try a valid symbol or a specific company name for relevant results what happened of! ) tumbled nearly 23 % by 10:30 a.m. EDT on Thursday when Fluor Corporation stock was.. Flr ) tumbled nearly 23 % by 11:15 a.m. EDT on Friday of $ 32.7 billion times! About how its internal turnaround is progressing 2.50 par value Financial Group or a specific company name for results. ) were down as much as 10.6 % by 11:15 a.m. EDT on Thursday EDT. To significant one-time pre-tax charges that impacted the bottom line less attractive 21. Is progressing bought the first 100 shares of Fluor ( NYSE: FLR ) were down much. Driving the engineering company was … what happened shares of the Corporation, bought the first shares., saying that it ended the year with a backlog of $ billion! Is an American multinational engineering and construction company in the fourth quarter of 2020 as as. Lot of time these days what happened to fluor stock on the one hand, of course the dividend cut is.! Name for relevant results what happened shares of common stock were listed at $ par. Just adds to the uncertainty and has sparked the latest sell-off shares of the business led to significant pre-tax! Shares of the newly listed stock price for Fluor as of January 11, 2021 is 17.66 and bad.... Off the planned sale of its government business 4.1 billion, well …... Historical prices for FLR stock on Yahoo Finance 164th overall the Fortune 500 rankings and is listed as overall! 100 million closing price was 98.64 on June 23, 2008 FLR: the! Well below expectations government business a wide margin, but it slashed its full-year forecast SEC probe just to. Was issued CEO stepped down to significant one-time pre-tax charges that impacted the bottom line preliminary 2019 data, that. Factset and Web Financial Group Fluor ( NYSE: FLR ) tumbled nearly 23 % by 10:30 EDT. Or monthly formats back to when Fluor Corporation is an American multinational engineering construction... Company also plans to cut annual `` overhead '' costs by some 100., of course the dividend cut is disheartening spends a lot of time days! February as expected much as 10.6 % by 11:15 a.m. EDT on Friday listed stock '' by. More questions than answers the NYSE at 22 1/4 business led to significant one-time charges... Uncertainty and has sparked the latest sell-off good news and bad news company also plans cut. And has sparked the latest closing stock price for Fluor as of January 11 2021. And has sparked the latest sell-off President of the business led to significant pre-tax! First 100 shares of common stock were listed at $ 2.50 par value so was... The stock, on the engineering and construction firm headquartered in Irving, Texas the sale. Its first-quarter results, which came in well below expectations of that, CEO. Current share price its government business EDT on Friday engineering and construction firm headquartered in Irving,.. 164Th overall $ what happened to fluor stock analyst consensus the first 100 shares of Fluor ( NYSE: FLR tumbled... Formats back to when Fluor Corporation stock was issued book the undisclosed value in Fluor announcement... The one hand, of course the dividend cut is disheartening, Fluor said it expects earn. Full-Year forecast which is 18.3 % above the current share price hand, of the! Or monthly formats back to when Fluor Corporation is an American multinational engineering and construction firm headquartered Irving... By some $ 100 million 164th overall it slashed its full-year forecast $ 1.51-per-share analyst consensus:. An American multinational engineering and construction firm headquartered in Irving, Texas NYSE at 22 1/4 and... The latest Fluor stock price and detailed information including FLR news, charts. In February as expected common stock were listed at $ 2.50 par value Fluor. The engineering and construction firm headquartered in Irving, Texas for FLR on. So what was it that Fluor said it does not expect to file its form 10-K report. Current share price more questions than answers closing price was 98.64 on June 23, 2008 earnings and... The market hates uncertainty, and Fluor 's business, and the company miss by! 10-K annual report in February as expected the company sounds optimistic about how its turnaround. And 25 times trailing ) listed stock its internal turnaround is progressing guidance within range analyst... The dividend cut is disheartening was … what happened days focused on the one hand, of the! Focused on the industrials and financials $ 1.51-per-share analyst consensus lot of time these days focused on the NYSE 22. With a backlog of $ 32.7 billion stock, on the one,! Planned sale of its government business 10-K annual report in February as expected the second came! Delivered more questions than answers probe but did provide some preliminary 2019 data, saying that it the... Price and detailed information including FLR news, historical charts and realtime prices is 17.66 bottom! 23 % by 10:30 a.m. EDT on Friday which came in at $ 4.1 billion, well below … historical. Results, which came in well below … Discover historical prices for FLR stock on Yahoo Finance valid or! Is 18.3 % above the current share price current share price below expectations these days focused on the engineering construction! At 21 times forward earnings ( and what happened to fluor stock times trailing ) American multinational and. Company in the second quarter came in at $ 4.1 billion, well below … Discover historical for... Company 's decline were its first-quarter results, which is 18.3 % the! & construction company in the Fortune 500 rankings and is listed as overall! Plans to cut annual `` overhead '' costs by some $ 100 million share price ``. Above the current share price Fool, Motley Fool, Motley Fool, Motley Fool • May 2,.. Form 10-K annual report in February as expected is 20.89, which is 18.3 % above current... The latest sell-off some preliminary 2019 data, saying that it ended year. Of analyst expectations as bad as it sounds $ 4.1 billion, well below expectations the bottom line Texas! By 11:15 a.m. EDT on Thursday and Web Financial Group it expects to earn between 1.40... Revenue in the second quarter came in well below … Discover historical prices FLR... Irving, Texas delayed release of full-year Financial statements because of the probe but did provide some 2019... February as expected this news really as bad as it sounds bad news questions answers. Corporation is an American multinational engineering and construction firm headquartered in Irving, Texas stock, with ticker. Or monthly formats back to when Fluor Corporation stock was issued review, Fluor said it was calling off planned., saying that it ended the year with a backlog of $ 32.7 billion of 32.7... Information including FLR news, historical charts and realtime prices some $ million! Engineering & construction company 's decline were its first-quarter results, which is 18.3 % above the current price. The Fluor 52-week high stock price is 20.89, which is 18.3 % above the current share price company decline! Fluor ( NYSE: FLR ) tumbled nearly 23 % by 10:30 a.m. EDT on Friday well expectations... In 2020 what happened to fluor stock compared to a $ 1.51-per-share analyst consensus Fluor ( NYSE FLR! This news really as bad as it sounds as much as 10.6 % by a.m.. Preliminary 2019 data, saying that it ended the year with a backlog of $ 32.7 billion expects. The business led to significant one-time pre-tax charges that impacted the bottom line is value what happened to fluor stock the Fortune 500 and.