Fluor's stock plummeted 6.03% during pre-market trading on Friday, following the release of its first-quarter financial results which fell short of analyst expectations and revealed significant cost pressures.

The engineering and construction company reported adjusted earnings per share of $0.14 for Q1, missing the IBES estimate of $0.62. Revenue also came in below expectations at $3.6 billion versus the estimated $3.894 billion. The company's adjusted EBITDA declined to $60 million, pressured by a $37 million increase in costs on a mining project in the Americas within its Urban Solutions segment. Additionally, the Mission Solutions segment turned to a $71 million loss due to a $96 million litigation charge.

Fluor narrowed its full-year 2026 adjusted EBITDA guidance to a range of $525 million to $560 million. The company cited the recognition of cost growth on the mining project and a temporary project slowdown related to geopolitical concerns in the Middle East as reasons for the revised outlook.