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Investors Hone in on EPS Miss, Lighter Sales, Sending Fluor Shares Squealing Lower by 2%

Anonymous (not verified) | 05/01/14

Not too long ago, industrial goods company, Fluor Corporation, announced its results for the quarter ended March 2014. Net income was below the Street's expectations, and the stock price followed suit, going down about 2%. FLR brought home $149.1 million or $0.92 per share, $0.05 lower than expected, which was not enough to satisfy growth-hungry investors. Not surprisingly, sales missed analyst estimates, coming in at $5.38 billion while analysts were hoping to see $6.42 billion. This was in fact 25.2% lower than last year's sales numbers, which sure didn't help the stock price.

Attention was called to an individual aspect from the quarter. Record New Awards of $10.7 billion; Ending Backlog Rises to $40.2 billion - up $5.3 billion from Last Quarter.