Core Viewpoint - Rosen Law Firm is reminding investors who purchased Fluor Corporation securities between February 18, 2025, and July 31, 2025, of the upcoming lead plaintiff deadline on November 14, 2025, for a class action lawsuit [1] Group 1: Class Action Details - Investors who bought Fluor securities during the specified Class Period may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [1] - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by the November 14, 2025 deadline [2] - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [3] Group 2: Case Allegations - The lawsuit alleges that Fluor Corporation made false and misleading statements regarding project costs related to the Gordie Howe International Bridge and various Texas highway projects, which were impacted by subcontractor errors, price increases, and scheduling delays [4] - It is claimed that these issues, along with reduced customer capital spending and economic uncertainty, negatively affected Fluor's business and financial results, rendering their financial guidance for 2025 unreliable [4] - The lawsuit asserts that the public statements made by Fluor were materially false and misleading, leading to investor damages when the true information became public [4]

Market Volatility and Valuation Concerns - Market volatility is being highlighted as Wall Street leaders warn of potential market corrections and high valuations, with David Solomon from Goldman Sachs predicting a 10 to 20% drawdown in equity markets within the next 12 to 24 months [1] - Concerns over high valuations, particularly in AI companies, are not new, indicating a potential reassessment of capital flows and investment strategies [2][3] Impact on European Firms - Several European firms are benefiting from investments in AI, such as LRA, a French company that sells cooling products to major tech firms, and Scasa, a Swedish construction group focused on building AI data centers [4][5] - Scasa reports a strong pipeline of data centers in the US and Europe, indicating no slowdown in demand from large international customers [6] Earnings Season and Market Outlook - Despite recent volatility, the overall earnings season has been reassuring, with results beating expectations and maintaining a positive outlook for the market [8][9]

Financial Data and Key Metrics Changes - Revenue increased by $158 million, or 12% year-over-year, reaching $1.2 billion in the construction segment [15] - Gross profit rose by $58 million, or 28%, with adjusted net income improving by $33 million, or 36% [15] - Adjusted EBITDA improved by $67 million, or 45%, with year-to-date operating cash flow of $290 million [15][17] Business Line Data and Key Metrics Changes - In the construction segment, revenue increased by $82 million, or 8% year-over-year, driven by acquisitions [15] - The materials segment saw aggregate volumes increase by 26% and asphalt volumes by 14% year-over-year [16] - Newly acquired companies contributed 1.4 million tons of aggregates and 177,000 tons of asphalt [16] Market Data and Key Metrics Changes - Demand remains strong, particularly in the public market, supporting volume growth in aggregates and asphalt [10] - The southeastern platform, including Warren Paving, performed better than expected, leading to significant increases in asphalt margins [16] Company Strategy and Development Direction - The company has introduced an investment framework focused on supporting core competencies and expanding into new markets through acquisitions [4][5] - Recent acquisitions, including Cindolite, are aimed at enhancing the vertically integrated model and supporting long-term growth [8][21] - The company expects to achieve organic growth targets of 6-8% through 2027 [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the market, supported by the Infrastructure Investment and Jobs Act (IIJA) [26] - The company anticipates continued growth in its CAP portfolio and increased bid-day margins [12][20] - There is optimism regarding the conversion of CAP into revenue, with expectations for acceleration in the fourth quarter and into 2026 [28][44] Other Important Information - The company has more than doubled its aggregate reserves to approximately 2.1 billion tons since 2021 [8] - Cash and marketable securities totaled $617 million, with $1.3 billion of debt outstanding [17] - The company revised its annual revenue target to a range of $4.35 billion to $4.45 billion [19] Q&A Session Summary Question: Sources of CAP change and bidding opportunities - Management noted that the overall market remains strong, supported by the IIJA and private market investments, leading to improved margins and increased CAP [25][26] Question: Conversion of CAP into revenue - Management indicated that Q4 is expected to show an 8% organic growth rate, with confidence in continued growth into 2026 [28] Question: Guidance on EBITDA margin drivers - Management highlighted that both construction and materials segments are contributing to margin expansion, with expectations for continued improvement [31][33] Question: Operating cash flow and CapEx outlook - Management attributed higher operating cash flow to successful claim settlements and collections, while adjusting CapEx guidance to $130 million [35][37] Question: Opportunities with recent acquisitions - Management expressed excitement about the integration of Warren and Pappage, noting strong aggregate demand and opportunities for growth in the southeast [41][42]

Dow Jones Industrial Average ($DOWI) component Caterpillar (CAT) is a key part of the construction industry. It is a $250 billion stock, which was much smaller last spring. But since then, its price has surged. CAT’s earnings report a week ago took the stock down a few percentage points from its recent all-time high. It has more than tripled during the past 5 years. Not bad for an industrial company celebrating its 100th anniversary in 2025! More News from Barchart www.barchart.com The stock is not che ...

Core Insights - Tutor Perini Corporation (TPC) reported strong third-quarter 2025 results, with earnings and revenues exceeding expectations and showing year-over-year growth [1][3] - The company raised its adjusted earnings per share (EPS) guidance for the third consecutive quarter, indicating confidence in future performance [2][10] Financial Performance - Adjusted EPS for the quarter was $1.15, surpassing the Zacks Consensus Estimate of 96 cents by 19.8%, compared to an adjusted loss per share of $1.92 in the same quarter last year [3][7] - Revenues reached $1.42 billion, exceeding the consensus estimate of $1.34 billion by 5.3% and increasing 31% year over year from $1.08 billion [3][8] Backlog and Project Execution - As of September 30, 2025, Tutor Perini's backlog increased by 54% year over year to $21.6 billion, driven by new awards and contract adjustments [4][8] - The Civil segment saw revenues rise by 31% year over year to $770.2 million, with a backlog increase of 26% to $11.2 billion [5] - The Specialty Contractors segment experienced a significant revenue increase of 124% year over year to $226.5 million, with a backlog growth of 7% to $3 billion [6] Operating Highlights - Income from construction operations improved to $40.1 million, a turnaround from a loss of $106.8 million in the prior year, supported by higher-margin projects [7] - Adjusted net income totaled $61.9 million, contrasting with a loss of $84.5 million reported in the same quarter last year [7] Liquidity and Cash Flow - As of September 30, 2025, Tutor Perini had cash and cash equivalents of $695.7 million, up from $455.1 million at the end of 2024 [8] - Net cash provided by operating activities was $574.4 million in the first nine months of 2025, compared to $174 million in the prior year [9] Future Outlook - The company now expects adjusted EPS for 2025 to be in the range of $4.00-$4.20, an increase from the previous guidance of $3.65-$3.95 [10]

Market Overview - Major U.S. index futures indicate a modestly higher open, with stocks expected to build on gains from the previous session [1] - Concerns about an AI bubble and potential corrections persist, but the current momentum appears to be upward [2] Employment and Layoffs - U.S.-based employers announced 153,074 job cuts in October, a 183% increase from September and a 175% rise from October of the previous year [3] - Year-to-date job cuts reached 1,099,500, the highest level since 2020, driven by AI adoption, reduced consumer spending, and rising costs [4] Individual Stock Movements - Snap (SNAP) shares surged by 19.5% in pre-market trading following a $500 million stock buyback announcement and strong revenue guidance for Q4 [5] - AppLovin (APP) also saw significant pre-market strength after better-than-expected Q3 results [5] - Conversely, DoorDash (DASH) shares fell by 10.6% after reporting Q3 earnings that missed analyst expectations [6] Economic Data - Private sector employment increased by 42,000 jobs in October, rebounding from a revised loss of 29,000 jobs in September, exceeding economists' expectations [9] - The ISM services PMI rose to 52.4 in October, indicating growth, after a reading of 50.0 in September [10] Sector Performance - Airline stocks showed substantial strength, with the NYSE Arca Airline Index rising by 5.8% [11] - Biotechnology stocks also performed well, reflected by a 3.1% increase in the NYSE Arca Biotechnology Index [11] - Computer hardware and semiconductor stocks saw gains, with the NYSE Arca Computer Hardware Index and the Philadelphia Semiconductor Index increasing by 3.1% and 3.0%, respectively [12] Commodity and Currency Markets - Crude oil futures rose by $0.41 to $60.01 per barrel, while gold futures climbed by $31.70 to $4,024.60 per ounce [13] - The U.S. dollar traded at 153.47 yen and $1.1537 against the euro [13] International Markets - Asian markets rose, with Japan's Nikkei 225 Index increasing by 1.3% and China's Shanghai Composite Index jumping by 1.0% [17][16] - European stocks drifted lower despite a recovery in the U.S. market, with Germany's industrial production expanding by 1.3% in September [22]

British construction activity has shrunk at its fastest pace since the height of the pandemic https://t.co/4fKUNM4peh ...

Core Insights - Trimble Inc. reported stronger-than-expected third-quarter financial results, raising its full-year outlook due to steady gains in its transportation and logistics segment despite ongoing freight market weakness [1][2] Financial Performance - Trimble's total revenue increased by 3% year-over-year to $901.2 million, with transportation and logistics revenue growing by 4% year-over-year to $134 million [1] - Annualized recurring revenue (ARR) reached $2.31 billion, reflecting a 14% organic growth [2] - Non-GAAP diluted earnings per share were reported at $0.81, exceeding expectations [2] Strategic Initiatives - The company's recurring revenue strength is attributed to the execution of its "connect and scale" strategy, which integrates field operations with digital workflow platforms [2] - Trimble launched a freight marketplace platform with Procter & Gamble as an anchor shipper customer, aiming to create a more responsive and data-driven supply chain ecosystem [5] Segment Performance - The AECO (architecture, engineering, construction, and operations) segment experienced a 17% revenue growth, remaining the largest contributor to Trimble's ARR [6] - The Field Systems segment, which includes geospatial and heavy equipment guidance technology, saw an 8% revenue increase, benefiting from the transition to a subscription model [6] - Both segments benefited from infrastructure spending, industrial construction activity, and the adoption of AI-driven workflows in project planning and execution [7] Market Trends - Despite challenges in trucking and freight markets, demand for connected fleet technologies remains strong as shippers and carriers focus on cost control, fleet efficiency, and driver retention [4]

Core Insights - The strict immigration policies under the Trump administration are beginning to significantly impact the construction industry, affecting both the supply of labor and the demand for various types of construction projects [3][8] - A report from accounting firm Moss Adams, which merged with Baker Tilly, surveyed 267 firms across several states, revealing that immigrants constitute a major portion of craft workers in states like California and Texas [4] - Construction employment saw a 2.5% increase from August 2023 to August 2024, outpacing the 1.2% growth in total nonfarm payroll employment, but is projected to slow to 0.7% annual growth by August 2025 [5] Employment and Wage Trends - The report indicates a stabilization in wage growth, with salary increases moderating in 2024 and continuing to ease in 2025, suggesting a stabilization of the tight labor market [6] - A majority of surveyed firms (65%) did not alter their salary strategies from 2024 to 2025, indicating a cautious approach amid market uncertainties [6] - Compensation strategies have seen a decline, with pay bumps based on cost-of-living adjustments decreasing by 7% compared to 2024, and the percentage of companies using such adjustments to attract talent falling by 3% [7] Future Projections - Despite the slowdown in wage growth in 2025, projections for 2026 indicate an expected increase in construction project volume and labor demand, as more companies are offering merit pay and cash incentives [8] - The ongoing impact of immigration policy is expected to continue influencing both the supply of construction workers and the demand for certain projects [8]

Core Insights - The private sector added 42,000 jobs in October, marking a recovery from a loss of 32,000 jobs in September, with the trade, transportation, and utilities industry leading the growth [1][2] - Job growth was modest compared to earlier in the year, with ADP Chief Economist noting that this was the first job addition since July [2] - Year-over-year pay growth remained flat, with job-stayers seeing a 4.5% increase and job-changers at 6.7%, indicating a balance in supply and demand [3] Industry Performance - Five industries added jobs in October: - Trade, transportation, and utilities: +47,000 jobs - Education and health services: +26,000 jobs - Financial activities: +11,000 jobs - Natural resources and mining: +7,000 jobs - Construction: +5,000 jobs [6] - Five industries experienced job losses: - Information: -17,000 jobs - Professional and business services: -15,000 jobs - Other services: -13,000 jobs - Leisure and hospitality: -6,000 jobs - Manufacturing: -3,000 jobs [6] Establishment Size Impact - Only large establishments (500 or more employees) added jobs, contributing 73,000 jobs - Small businesses (1-49 employees) cut 10,000 jobs, while medium establishments (50-499 employees) reduced their workforce by 21,000 [7]