On August 11, Fluor fell 5.84% in regular trading, trading at $53.75/share, with turnover of $86.74 million. The decline follows a sharp 17.66% surge on August 7 after the company reported Q2 results that significantly beat expectations.
Fluor posted Q2 adjusted EPS of $0.91, exceeding the consensus estimate of $0.70 by 30% and representing a 111.63% year-over-year increase from $0.43. Revenue came in at $4.33 billion versus the $3.92 billion estimate, up 8.8% year-over-year. The company also reported a $26.9 billion backlog and announced $300 million in share repurchases, with its CEO highlighting data center expansion as a key growth driver. Despite Truist raising its price target from $64 to $71 while maintaining a Buy rating on August 10, and multiple analysts revising forecasts higher, the stock faced selling pressure as investors locked in gains following the post-earnings spike to a 52-week high of $57.36.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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