Fluor Corporation's stock plummeted 15.96% during intraday trading on Friday, following the release of its first-quarter 2026 financial results which significantly missed analyst expectations.

The engineering and construction company reported adjusted earnings per share of $0.14 for Q1, far below the IBES consensus estimate of $0.62. Revenue also came in at $3.6 billion, missing the estimated $3.89 billion. The poor performance was driven by increased costs on a mining project in the Americas within its Urban Solutions segment, which saw profit plummet to $6 million from $70 million a year ago. Additionally, the Mission Solutions segment reported 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, down from the previous forecast of $525 million to $585 million. The company cited the recognition of cost growth on the mining project and a temporary slowdown on another project due to Middle East geopolitical concerns as reasons for the revised outlook. New awards for the quarter also fell 54% year-over-year to $2.7 billion.