URS -12% on weak 2014 outlook

|About: URS Corporation (URS)|By:, SA News Editor

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.