Fluor Corp
FLR: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$31.00 | Kwmp | Nms |
Fluor Earnings: Despite a Robust Backlog, Legacy Project Costs Weigh on Results
No-moat Fluor posted a $21 million net loss in the fourth quarter, as results included a $33 million project charge due to cost overruns and delays on a legacy upstream project. After rolling our model forward one year, we’ve trimmed our fair value estimate to $37 from $37.50, which reflects our slightly more muted near-term expectations.