Fluor Corp. (FLR) saw its shares slide more than 6% in trading after hours as the company lowered its full-year earnings target and reported earnings per share that missed expectations.
The engineering and construction management company cut its 2010 earnings forecast to range between $2.80 and $3.20 a share, down from earlier projections for a range of $3.20 to $3.60 per share.
For the fiscal fourth quarter, the company weighed in with earnings of $148.7 million, or 82 cents a share, compared to year-ago profit of $189.5 million, or $1.03 a share.
Revenue fell 10% to $5.48 billion, compared to sales of $6.10 billion in the fourth quarter of last year.
The results missed estimates, as the Street had expected earnings of 88 cents on $5.48 billion in revenue, according to analysts polled by Thomson Reuters.
Shares of Fluor fell 23 cents or 0.51% in the regular session on Thursday to close at $45.05 a share. The stock fell another $2.77 or 6.15% after releasing results when the market closed.
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