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Why Fluor Slumped in 2018

DATE POSTED:January 12, 2019

Shares of Fluor (NYSE: FLR) declined 37.7% in 2018, according to data from S&P Global Market Intelligence. It was a disappointing year for the company, and it comes after Fluor entered last year with high hopes of a significant upturn in its revenue and earnings.

Fluor's exposure to heavy industries such as chemicals, energy, mining, power, and industrial infrastructure make it a cyclical play on the long-anticipated recovery in capital spending from the oil and gas and mining industries. As such, the stock entered 2018 with high hopes, and the ongoing recovery in energy and mining & metals prices continued in the first half of the year.

Indeed the company saw a good recovery in new award wins, and its backlog started to grow again sequentially for the first time since 2016. 

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