By Dave Sebastian
Fluor Corp. said its loss narrowed and revenue declined for the fourth quarter, and it laid out guidance for 2021 that assumes more opportunities for new awards in the second half of the year as post-pandemic capital spending improves.
The engineering-construction company on Friday posted a loss from continuing operations of $115 million, compared with a loss from continuing operations of $294 million in the year-ago period. It posted a loss of 82 cents a share, compared with a loss of $2.10 a share in the same period a year earlier.
Revenue fell to $3.7 billion from $4.4 billion.
Corporate general and administrative expenses rose to $147 million from $46 million due to unfavorable foreign-currency transaction losses of $61 million and higher stock-price driven compensation.
For 2021, the company said it expects adjusted earnings of 50 cents a share to 80 cents a share.
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