Fluor Corp. Posts Q2 Loss On Charges; Withdraws Guidance

(RTTNews) - Fluor Corp. (FLR) has decided to withdraw all previously issued earnings per share guidance for 2019 due to the ongoing strategic review of its business and operations. The company's second-quarter earnings were negatively impacted by pre-tax charges of $714 million. These charges were the result of an operational and strategic review of Fluor's businesses, as well as project developments during the quarter. Shares of Fluor Corp. were down more than 9% after hours.

For the second-quarter, net loss attributable to Fluor was $555 million, or $3.96 per diluted share, compared to net earnings of $115 million, or $0.81 per diluted share a year ago. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.52, for the quarter. Analysts' estimates typically exclude special items.

Second-quarter revenue was $4.1 billion compared to $4.9 billion last year. Analysts expected revenue of $4.7 billion, for the quarter.