Fluor Corporation is preparing to disclose its third-quarter financial outcomes before the market opens on Friday, November 7. Industry analysts project the Texas-based engineering and construction firm to report earnings of 45 cents per share for the quarter, a decrease from 51 cents per share in the same period last year. Revenue expectations are set at $4.2 billion, an increase from $4.09 billion year-over-year, according to data compiled by Benzinga Pro.
This upcoming earnings announcement follows a challenging second quarter for Fluor, where the company's results fell short of analyst estimates, leading to a revised, lower adjusted earnings per share guidance for fiscal year 2025. In response to these developments and in anticipation of the third-quarter report, Fluor's stock experienced a 6% decline, closing at $44.58 on Thursday. Several prominent analysts have since adjusted their ratings and price targets for Fluor. For instance, Truist Securities analyst Jamie Cook maintained a Buy rating but reduced the price target from $52 to $51, while UBS analyst Steven Fisher also kept a Buy rating, lowering the price target from $60 to $56. Citigroup's Andrew Kaplowitz maintained a Buy rating, adjusting the price target from $71 to $57. Conversely, Baird analyst Andrew Wittmann reiterated a Neutral rating, decreasing the price target from $55 to $46, and Keybanc analyst Sangita Jain downgraded the stock from Overweight to Equal-Weight, setting a price target of $41.
These analyst revisions underscore the dynamic and often unpredictable nature of the market, where companies like Fluor continuously adapt to economic shifts and operational challenges. Investors and stakeholders will be closely watching the upcoming earnings call for insights into Fluor's strategies for navigating current market conditions and achieving future growth. The diverse analyst perspectives highlight the complexity of valuing companies in the engineering and construction sector, emphasizing the need for thorough research and a balanced outlook when considering investment opportunities.