Fluor Reports Q4 Loss
Fluor 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.
The article Fluor Reports Q4 Loss originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Fluor. The Motley Fool owns shares of Fluor. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.