Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide and operates in four segments: Energy & Chemicals; Mining, Industrial, Infrastructure & Power; Diversified Services; and Government.
Fluor Corp announced their first quarter earnings this past week and the stock price plummeted almost 25% toward a near 11-year low, while suffering their biggest-ever one-day drop, after the engineering, reported an unexpected loss, revenue that missed expectations, provided a downbeat outlook and after the chief executive had stepped down.
Profit and investor confidence in the engineering and construction company has been battered in recent years as Fluor absorbed a series of write-downs on projects ranging from refineries to power plants and offshore oil platforms.
The first-quarter loss “raises execution concerns,” said Sonia Baldeira, an analyst with Bloomberg Intelligence in a Thursday note. “The departure of CEO David Seaton, combined with a 1Q loss and missed estimates, heaps negative sentiment onto Fluor.”
I don’t really know about this sector, but it appears Fluor lives in the same neighborhood as GE. And if you watch the Equity Markets / News then you know how GE has performed in the last 12-18 months. If not, let you show you their stock chart.
Now let me show you Fluor’s stock chart.
I think it’s an easy conclusion…STAY AWAY FROM FLUOR as the chart suggest price has further downside to the monthly demand at $14.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.