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Fluor Earnings Beat Wall St. Expectations

May 24, 2000|Reuters

Engineering, construction and coal company Fluor Corp. reported earnings that came in ahead of Wall Street expectations and said it could post modest earnings growth for the full year despite weak coal markets. The Aliso Viejo-based company said its net earnings for its second quarter were $51 million, or 66 cents a share on a diluted basis, including nonrecurring items, compared with a net loss of $72.9 million, or 97 cents a share, a year ago. Excluding nonrecurring items, profit from operations rose 12% to $52.4 million, or 68 cents a share, from a profit of $46.9 million, or 62 cents, a year earlier. Analysts had expected the company to post earnings of 65 cents a share. Revenue fell to $2.6 billion from $3.1 billion. Fluor stock fell 19 cents to $34.56 on the NYSE.

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