Fluor Corporation (FLR) saw its shares tumble by over 16% after its third-quarter earnings fell short of analysts’ expectations. Revenue growth missed estimates, and adjusted earnings per share declined significantly year-over-year. Despite a surge in backlog, the company’s adjusted EBITDA and margins also contracted. However, Fluor announced plans to expand its share repurchase program and expects a significant gain from deconsolidating NuScale. The company also tightened its 2024 outlook.