Fluor(US:FLR) Globenewswireยท2025-09-18 20:47Core Viewpoint - A class action lawsuit has been filed against Fluor Corporation and certain executives for allegedly making false and misleading statements during the class period from February 18, 2025, to July 31, 2025 [1][2][3] Company Overview - Fluor Corporation provides engineering, procurement, construction, fabrication, modularization, and project management services through its Urban Solutions, Energy Solutions, and Mission Solutions segments [2] - The Urban Solutions division was the largest contributor to revenue and profit during 2024 and early 2025 [2] Allegations - The lawsuit claims that Fluor and its executives failed to disclose significant issues, including rising costs tied to major infrastructure projects, customer reductions in capital spending, and unrealistic financial guidance [3][7] - Specific allegations include overstating the effectiveness of risk mitigation strategies and downplaying risks from economic conditions [7] Financial Performance - In February 2025, Fluor issued FY 2025 guidance of adjusted EBITDA between $575 million and $675 million and EPS between $2.25 and $2.75 [7] - In May 2025, the guidance was reaffirmed despite acknowledged market uncertainty [7] - On August 1, 2025, Fluor reported Q2 results with EPS of $0.43, missing estimates by $0.13, and revenue of $3.98 billion, down 5.9% year-over-year and $570 million below expectations [7] - Following these disclosures, FY 2025 guidance was cut to adjusted EBITDA between $475 million and $525 million and EPS between $1.95 and $2.15, citing project cost overruns, delays, and client spending hesitation [7] Market Impact - Following the August 1, 2025 disclosures, Fluor's stock price dropped 27%, closing at $41.42 per share [4]