Fluor Stock Dips at Hint of Delays in Major Projects : Corporations: Shares lose $2.75 after company says it expects record earnings but is unsure of start dates for three foreign oil and gas operations. That could mean a lag in orders.

TIMES STAFF WRITER

Shares of Fluor Corp. closed lower Wednesday after the international engineering and construction giant said some of its larger international projects may be delayed.

Fluor's stock lost $2.75 a share to close at $48 in New York Stock Exchange trading. The price had been as high as $56.25 a share during the summer.

Fluor Chairman Les McCraw told Wall Street analysts Tuesday at a meeting in New York that the company will report record earnings when its fiscal year-end results are released later this month.

He cautioned, however, that a growing number of Fluor's larger international projects have uncertain start dates. This could create a lag in new orders, he said.

"When you're talking about projects in another country, there are a ton of things that impact them, such as the local economy and political considerations," Fluor spokeswoman Deborah Land said Wednesday from the company's Irvine headquarters.

Fluor has several multibillion-dollar oil and gas projects underway in Indonesia, Kuwait and the Netherlands.

"Because these large projects may experience a slight delay, their orders may look a little lumpy. That's what's at stake here," said Mark Altman, an analyst with Paine-Webber Inc. in New York.

"This is not that significant. We are still looking at strong earnings for the year end."

For fiscal 1993, Fluor posted a profit of $166.8 million, or $2.03 a share, on revenue of $7.85 billion.

Altman predicts that the company will report earnings of about $190 million, or $2.35 a share, for the current year.

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