Fluor Shares Rise 6.1% After Earnings Beat and Analyst Upgrades
Fluor Corporation (NYSE:FLR) shares climbed 6.1% in pre-market trading to $57.52, nearing its 52-week high of $58.35. The increase followed the company's second-quarter earnings report, which showed adjusted EPS of $0.91—surpassing analyst estimates of $0.71—and revenue of $4.33 billion. Analyst activity also contributed to the stock’s rise: Truist raised its price target from $64 to $71 on August 10, and UBS initiated coverage with a Buy rating and a $66 price target. Fluor's backlog reached $26.9 billion after securing $6.1 billion in new awards during the quarter. The stock gained despite broader market declines, as major US indices fell by between 0.2% to 1.7%. The rise appears driven primarily by strong earnings and analyst upgrades rather than a specific company announcement.
Topics: analyst actions backlog earnings stock price movement