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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (63933)	5/4/2020 10:05:16 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78814

Would like to see them exit their unprofitable business segment (like Oil & Gas), downsize and concentrate on their Industrial & Infrastructure. Re FLR - oils and gas was where they made their money. Infrastructure was very low margin in the best of times and I don’t think it will be a good business going forward. This is a stock I would tend to avoid.

To: E_K_S who wrote (63933)	5/4/2020 10:25:33 PM
From: Paul Senior	2 Recommendations Recommended By E_K_S FIFO_kid2 Read Replies (1) \| Respond to of 78814

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.

To: E_K_S who wrote (63933)	5/5/2020 12:55:18 PM
From: E_K_S	Read Replies (1) \| Respond to of 78814

Sold out small position in FLR @ $10.61/share booked a 7% return. More importantly any company where earnings and reporting is suspect is not worth holding (long term). I have had a few of these types of companies and when things look like they have turned around and/or have a deep order book, there are one time adjustments that turn a good opportunity sour. Have an infrastructure watch list. I had STRL for the longest time and this was a good turn around story for a small operator. Previous CEO came back to run the company and after 24 months stock went from $3/share to $9/share. Contracts awarded were completed on time and were profitable. No funny accounting. EKS