Irving-based engineering firm Fluor Corp. lost $1.7 billion in 2019, according to financial filings disclosed Friday and delayed for months by internal and regulatory reviews.
The full-year loss and write-downs reported by Fluor were “far worse” than expected, according to Bloomberg Intelligence analysts. The company reported a $9 million profit in 2018.
Fluor closed out 2019 with $14.3 billion in revenue, down from $15.2 billion the year before.
The company halted its financial filings earlier this year when the U.S. Securities and Exchange Commission sought records about charges it recorded in 2019 on a fixed-price Army ammunition plant project in Radford, Va. In May, the Justice Department subpoenaed the company for additional information.