Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Fluor Corporation (“Fluor”) (NYSE: FLR) securities between February 18, 2025 and July 31, 2025, inclusive (the “Class Period”).
Fluor provides engineering, procurement, and construction, fabrication and modularization, and project management services worldwide. Fluor operates through three segments: Urban Solutions, Energy Solutions, and Mission Solutions. Fluor's infrastructure projects in its Urban Solutions segment include work on, among other things, the Gordie Howe International Bridge ("Gordie Howe"), as well as the Interstate 365 Lyndon B. Johnson ("I-635/LBJ") and Interstate 35E ("I-35") highways in Texas.
The Class Period begins on February 18, 2025, when Fluor issued a press release during pre-market hours reporting its fourth quarter and full year (“FY”) 2024 financial results. Fluor also provided financial guidance for the FY of 2025, while highlighting that the company had built “a robust reimbursable backlog across diverse end markets, strengthening our capital structure, developing strong engineering and project execution teams,” and that these “efforts have positioned Fluor to deliver significant value and opportunities for our clients, employees and shareholders.” During the accompanying call with investors and analysts held that same day discussing the results, Fluor touted that the company’s “infrastructure business continues to make good progress on the Gordie Howe project,” and that on “the I-635 LBJ project, construction is now 70% complete. Substantial completion is forecasted for Q2 of 2026.”
On May 2, 2025, Fluor issued a press release reporting its first quarter 2025 financial results and reaffirmed the company’s financial guidance for FY 2025, notwithstanding Fluor’s acknowledgement of the potential negative impacts of ongoing economic uncertainty on Fluor's business resulting from trade tensions and other market conditions. Contemporaneously, during the accompanying call with investors and analysts, Fluor touted the purported health and stability of Fluor's and its customers' operations and the strength of the company's risk mitigation strategy, both for itself and its clients.
On August 1, 2025, Fluor issued a press release reporting its financial results for the second quarter of 2025. Specifically, Fluor reported non-GAAP EPS which missed consensus estimates by $0.13, and revenue which missed consensus estimates and which amounted to a 5.9% year-over-year decline. Fluor blamed these disappointing results on, among other things, growing costs in multiple infrastructure projects due to subcontractor design errors, price increases, and scheduling delays, as well as reduced capital spending by customers. Additionally, Fluor provided a negatively revised financial outlook for FY 2025. That same day, during the accompanying call with investors and analysts, Fluor's CEO disclosed that the infrastructure projects that had negatively impacted Fluor's Q2 2025 results were the Gordie Howe, I-635/LBJ, and I-35 projects. On this news, Fluor's stock price fell $15.35 per share, or 27.04%, to close at $41.42 per share on August 1, 2025.
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) costs associated with the Gordie Howe, I-635/LBJ, and I-35 projects were growing because of, among other things, subcontractor design errors, price increases, and scheduling delays; (2) in addition, customer reduction in capital spending and client hesitation around economic uncertainty, was having, or was likely to have, a significant negative impact on Fluor’s business and financial results; (3) accordingly, Fluor’s financial guidance for FY 2025 was unreliable and/or unrealistic, the effectiveness of Fluor’s risk mitigation strategy was overstated, and the impact of economic uncertainty on Fluor’s business and financial results was understated; and (4) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On November 14, 2025, Motions to Appoint Lead Plaintiff and Lead Counsel were filed. This action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.