Fluor: Reports 2Q Loss From Cost Overruns; 2017 Guidance Reduced Due to Project Delays; Reducing FVE
We plan to reduce our $58 per share fair value estimate for global E&C Fluor by 2%-4% to reflect a disappointing second-quarter loss and a cautious near-term outlook. We are somewhat more optimistic regarding the potential for Fluor's nuclear plant work, following recent comments from its customer.The quarterly loss of $0.17 per share compares with EPS of $0.72 one year ago. Revenue fell 3% to $4.7 billion, though operating income plummeted, declining roughly $215 million to $15 million due...
Fluor is a holding company. Through its subsidiaries, the company provides engineering, procurement, construction, fabrication and modularization, operations, maintenance and asset integrity, as well as project management services. The company serves a set of industries including oil and gas, chemicals and petrochemicals, mining and metals, transportation, power, life sciences and manufacturing. The company is also a service provider to the U.S. federal government and governments abroad; and it performs operations, maintenance and asset integrity activities for industrial clients. The company has four segments: Energy & Chemicals; Mining, Industrial, Infrastructure & Power; Diversified Services; and Government.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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