Fluor Corporation (NYSE: FLR - News) reported a record second quarter earlier this month. Net earnings jumped 119% to $209 million from last year's $96 million. The company mentioned that all business segments contributed to this positive result by posting solid growth in profit over last year.
FLR sees higher earnings for the year as does Wall Street
The company also hiked its guidance for the year. We are encouraged by the strength of our financial results to date, and see substantial opportunity for the balance of the year, said Chief Financial Officer Mike Steuert. As a result, we are increasing our full year guidance for Earnings Per Share to a range of $3.65 to $3.80 per share for 2008. This compares with previous guidance of $3.30 to $3.45 per share after adjusting for a two-for-one stock split that was effective on July 16, 2008.
Analysts responded with higher forecasts. Eight out of 11 covering analysts raised full-year 2008 earnings estimates from last month's $3.27 per share to $3.58.
Read our Jul 03, 2008 analysis.
Last Week's Growth and Income Zacks Rank Buy Stocks
Monsanto Company (NYSE: MON - News) recently announced its expansion of a joint venture with China National Seed Group Corp. The joint venture provides corn seed to Chinese farmers. In early August, Monsanto declared a quarterly dividend of 24 cents per share, which is payable on October 24, 2008, to shareowners of record on October 3, 2008. Read the full analysis on MON.
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