Been burned with FLR in past, and I'll pass on it now (and maybe forever -g-).
I don't know enough about the accounting done by these companies. It used to be they, i.e. FLR, would report earnings by % of completion- a paper figure. Reported earnings weren't from dolllars (revenue) actually taken in. They were "accumulated" on paper. When the job was completed there seemed to me to be adjustments whereby those "earnings" turned out to be real losses...actual dollars. So restatements of "earnings". If I remember correctly.
I sat through many quarters of FLR, and it seemed to me they had an inordinate number of jobs that they overbid on, got the contracts, and ultimately lost money on.
Also agree with Spekulatius: imo, way too much industrial,gas, oil business for me to consider them a big beneficiary of any infrastructure boom.
I have a few contractors-- GVA, GV, TPC, and I'm more comfortable with them.
Jmo of course. |
