Fluor Beats Wall Street Estimates (FLR)

Fluor Corporation FLR has released its quarterly earnings after the closing bell on Monday. The company reported net earnings attributable to Fluor of $157 million, or $0.87 per share, compared to $169 million or $0.93 per share in the year ago period. Wall Street analysts had anticipated FLR would report EPS of $0.71, so this was a very strong top-line beat. Revenue was $5.2 billion, compared to $5.3 billion in last year's corresponding quarter. This came in ahead of consensus estimates of $4.94 billion. In the after hours trading session, FLR shares have gained 1.84% to $48.73. “Fluor has once again demonstrated the tremendous power of its diversified business model with the recognition of record new awards and growing backlog led by our global mining business,” said Chairman and Chief Executive Officer Alan Boeckmann. “Looking ahead to the balance of 2010, we see the potential for continued strong new awards in the second half, especially in our mining, oil and gas, and infrastructure businesses.”