Engineering and construction firm Fluor Corp. (FLR) is slated to release first-quarter results after market closes on May 11. Analysts are projecting earnings of $0.93 per share on revenues of $5.76 billion for the quarter. Earnings for the year-earlier quarter were $1.50 per share on revenues of $4.8 billion.
While releasing fourth-quarter results, the Irving, Texas-based Fluor reiterated its previously communicated 2009 earnings forecast of $3.90 - $4.20 per share. Analysts are looking for earnings of $3.76 per share for the full year.
Alan Boeckmann, Chairman and Chief Executive Officer of Fluor, said, "While the economic environment is creating uncertainty in a number of our markets, many of our key clients continue to invest in strategic long-term programs where Fluor excels. We remain optimistic that our substantial backlog and diversified business model will allow Fluor to deliver solid results in 2009."
For the fourth quarter, the company posted net income of $190.1 million or $1.04 per share, down from $259.5 million or $1.41 per share in the prior year quarter. Revenue rose 29% to $6.07 billion from $4.71 billion in the previous year.
Among other players in the field, ABB Ltd. (ABB) posted first-quarter profit of $652 million or $0.29 per share, a decline from the previous year's profit of $10 billion or $0.44 per share earned a year ago, due to lower capacity utilization, a change in product mix and price erosion in the short-cycle businesses. Quarterly revenues fell 9% to $7.21 billion from $7.96 billion in the prior year period.
Another peer, the Clinton, New Jersey-based Foster Wheeler AG's (FWLT) first-quarter attributable profit declined to $72.9 million or $0.57 per share from $138.1 million or $0.95 per share reported last year. The latest quarter results were unfavorably impacted by an effective tax rate that was higher than the average quarter of 2008. Quarterly operating revenues dropped to $1.26 billion from the previous year's revenue of $1.79 billion.
Fluor shares, which have been recently downgraded by Stifel Nicolaus to Hold from Buy, are currently trading at $43.05, down $2.12 or 4.69%. In the past 52 weeks, the stock has been trading between $28.60 and $101.37.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.