After a $555 million net loss in Q2 2019, Fluor Corporation’s earnings didn’t have good news to report in Q3 either. The contractor (No. 2 on ENR’s 2019 Top 400) reported a net loss of $782 million in Q3.
The firm began a strategic review following last quarter’s loss, and announced in its latest earnings call that the review is complete and the company will now undergo a restructuring process. This will include many projects the company has deemed too high risk to pursue.
The company also finalized plans during the third quarter to sell its government and AMECO construction equipment divisions.