February 20, 2013
Fluor (NYSE: FLR ) has reported a quarterly loss in its Q4 and 2012 results. For the quarter, the company's revenue came in just over $7 billion, or 12% higher than the $6.3 billion it posted in the same period the previous year. The bottom line attributable to the company, however, ended up in a loss of $4.4 million ($0.03 per diluted share), against Q4 2011's net profit of $153.1 million ($0.90 diluted EPS).
On average, analysts had been expecting revenue of $7.2 billion and a net profit of $0.98 per share.
The shortfall was due in large part to a $265 million charge the company booked after an arbitration ruling went against it. That case was related to its attempt to recover costs from its work on a wind farm project off the coast of England.
For the full year, Fluor's revenue grew 18% on an annual basis to $27.6 billion. Attributable net profit fell to $456.3 million ($2.71 diluted EPS) from 2011's $593.7 million ($3.40).
Going forward, the company maintained its guidance for fiscal 2013 of $3.85-$4.35 in diluted EPS.