Fluor(US:FLR) Globenewswireยท2025-10-06 06:00Core Viewpoint - Fluor Corporation is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims that the company and its executives made misleading statements regarding project costs and financial guidance during the specified class period [1][3]. Group 1: Class Action Details - The class action lawsuit is titled Maglione v. Fluor Corporation, and it includes purchasers of Fluor securities from February 18, 2025, to July 31, 2025 [1]. - Investors have until November 14, 2025, to seek appointment as lead plaintiff in the lawsuit [1]. - The lawsuit alleges that Fluor's infrastructure projects, including the Gordie Howe International Bridge and certain Texas highways, faced rising costs due to subcontractor errors and delays [2][3]. Group 2: Allegations Against Fluor - The lawsuit claims that Fluor failed to disclose significant cost increases related to key projects, which were attributed to design errors, price hikes, and scheduling delays [3]. - It is alleged that these issues, along with reduced capital spending from customers, negatively impacted Fluor's business and financial results [3]. - Fluor's financial guidance for fiscal year 2025 is claimed to be unreliable, with overstated risk mitigation strategies and understated economic impacts [3]. Group 3: Financial Performance - On August 1, 2025, Fluor reported second quarter 2025 non-GAAP earnings per share of $0.43, missing consensus estimates by $0.13, and revenue of $3.98 billion, which represented a 5.9% year-over-year decline and missed estimates by $570 million [4]. - The disappointing results were attributed to rising costs in infrastructure projects and reduced capital spending by clients [4]. - Following the announcement of these results, Fluor's stock price fell by over 27% [4].