Here's Why Fluor Corporation's Stock Is Falling Today

Shares of Fluor Corporation (NYSE: FLR) fell more than 10% by 10:45 a.m. EDT on Friday after the company reported its second-quarter results.

Fluor reported $4.72 billion of revenue, which was down from $4.9 billion last year and missed the consensus estimate that the company would generate $4.89 billion in revenue during the quarter. Meanwhile, the company reported a net loss of $24 million, or $0.17 per share, which was a reversal from last year's profit of $102 million, or $0.72 per share. The culprit was a $124 million, or $0.89 per share, charge that the company took during the quarter for estimated cost increases on three gas-fired power projects. After adjusting for those charges, the company would have earned $0.72 per share, which not only matched last year's total but was ahead of the $0.60 per share that analysts expected.

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Source: Fool.com