Fluor Stock Tumbles 27% After Earnings. Why Its 2025 Outlook Took a Hit.

The engineering and construction company slashed its 2025 adjusted earnings outlook. (VALERIE MACON/AFP via Getty Images)

Fluor stock was plummeting Friday after the engineering and construction company reported worse-than-expected quarterly earnings and slashed its 2025 outlook.

The company posted adjusted earnings of 43 cents a share for the second quarter, falling short of Wall Street’s call for 55 cents. Revenue totaled $3.98 billion, down from $4.23 billion the previous year and below analysts’ consensus of $4.51 billion.

Fluor shares were down 27% after the opening bell Friday, putting the stock on track for its largest single-day percentage decrease on record, according to Dow Jones Market Data.

The company said subcontractor design errors, delays, and price escalation on three infrastructure projects, as well as a “shift in expected capital spending from some clients,” weighed on second-quarter results.

Fluor cut its full-year profit guidance, citing “client hesitation around economic uncertainty.” Management now expects earnings between $1.95 and $2.15 a share, having previously targeted a range of $2.25 to $2.75.

Full-year earnings before interest, taxes, depreciation, and amortization were forecast to total $475 million to $525 million, down from $530 million in 2024.

Write to Nate Wolf at nate.wolf@barrons.com