Flour Reaffirms Full Year Earnings Guidance - Update

(RTTNews) - Fluor Corp. (FLR) Friday reported an increase in second quarter profit and reaffirmed adjusted earnings for the full year. Earnings for the second quarter beat estimates.

The global designer and builder company continues to expect adjusted earnings in a range of $2.50 to $3.00 per share. Further, the firm tightened its adjusted EBITDA guidance range of $600 - $700 million to $625-$675 million. The company has not provided GAAP earnings per share guidance for the full year. Wall Street analysts are looking for $2.85 per share.

The second quarter earnings were $169 million, or $0.97 per share, up from $51 million, or $0.35 per share, a year ago. On an adjusted basis, earnings were $148 million or $0.85 per share.

On average, 8 analysts polled by Thomson Reuters expected the company to earn $0.68 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter gained to 7.3 percent to $4.227 from $3.939 billion in the previous year.