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Why Fluor Stock Is Falling Today

TheMotleyFool

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Why Fluor Stock Is Falling TodayPhoto, wide shot, wide-angle lens, Metal fabrication, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Hiroshi Sugimoto: https://img.midjourneyapi.xyz/temp/568784d0-c41a-4663-ab01-91f29a370903.png

Shares of Fluor (NYSE: FLR) tumbled more than 12% by 10:30 a.m. EDT on Thursday. Driving down the engineering company's stock were its disappointing third-quarter results.

Fluor recorded a net loss of $782 million, or $5.57 per share. That was well below expectations that the company would report a profit of $0.30 per share. The culprit was a series of noncash charges it took during the quarter. Overall, it recorded $880 million in charges, which included writing down the value of some of its assets as well as for restructuring activities.

Image source: Getty Images.

Source Fool.com

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