Fluor(US:FLR) Globenewswire·2025-10-23 00:56Core Viewpoint - Fluor Corporation is facing a class action lawsuit due to allegations of misleading investors regarding its business prospects and financial guidance during the class period from February 28, 2025, to July 31, 2025 [1][3]. Allegations - The lawsuit claims that Fluor failed to disclose increasing costs associated with major projects, including the Gordie Howe International Bridge and I-635/LBJ, due to subcontractor design errors, price increases, and scheduling delays [3]. - It is alleged that these issues, along with reduced capital spending by customers and economic uncertainty, significantly impacted Fluor's business and financial results [3]. - The company's financial guidance for FY 2025 was deemed unreliable, with overstated risk mitigation strategies and understated impacts of economic uncertainty [3]. Financial Results - On August 1, 2025, Fluor reported disappointing Q2 2025 financial results, attributing them to rising costs in infrastructure projects and reduced customer spending [4]. - The adjusted EBITDA guidance was revised down to $475 million to $525 million from a previous range of $575 million to $675 million, and adjusted EPS was lowered to $1.95 to $2.15 from $2.25 to $2.75 [4]. - Following these disclosures, Fluor's stock price dropped by $15.35 per share, or 27.04%, closing at $41.42 per share [4]. Next Steps - Shareholders may participate in the class action against Fluor, with a deadline to submit lead plaintiff papers by November 14, 2025 [5]. - Shareholders can choose to remain absent class members without participating in the case [5].