=Fluor (FLR) reported earnings on Thur 3 Nov 2016 (a/h)

Fluor reports Q3 (Sep) results, misses on revs; revises guidance to account for estimated cost increases on a petrochemical facility :

• Reports Q3 (Sep) earnings of $0.03 per share, may not be comparable to the Capital IQ Consensus of $0.88; revenues rose 8.7% year/year to $4.77 bln vs the $4.97 bln Capital IQ Consensus. Results for the quarter include an after-tax charge of $154 million, or $1.10 per diluted share, for estimated cost increases on a petrochemical facility in the United States.
• Co issues guidance for FY16, sees EPS of $2.20-2.40, may not be comparable to $3.31 Capital IQ Consensus Estimate.
• Co issues guidance for FY17, sees EPS of $2.75-3.25, may not be comparable to $3.50 Capital IQ Consensus Estimate. Guidance for 2017 assumes continued challenges in our commodity focused segment, offset by increasing opportunities in infrastructure, industrial and government.
• "We are very disappointed in the construction progress on a fixed-price Gulf Coast project that led to a significant charge this quarter," said David Seaton, Fluor chairman and chief executive officer. "Looking ahead to 2017, we remain focused on project execution and continuing to capture key prospects as they develop across our businesses."