- URS Corp. (URS -12.1%) plunges to 11-month lows on downside guidance it issued after the close yesterday; it expects to report FY 2013 non-GAAP cash EPS of $4.16-$4.26 and FY 2014 cash EPS of $4.13-$4.43, while analysts had been expecting $4.15 and $4.32, respectively.
- URS says lower than expected gas prices and pipeline capacity dragged down Q4 operating income, while execution issues in its oil and gas division dented project earnings.
- URS also plans to accelerate its previously announced plan to return at least $500M to stockholders through stock repurchases and dividends by the end of 2015.
URS -12% on weak 2014 outlook
Feb 13 2014, 11:23 ET