Fluor Corp.’s built many complex structures but its first offshore wind farm project isn’t going well. Greater Gabbard project has faced weather and equipment problems. Related Links: Britain’s Huge Offshore Wind Farm Faces An Array of Challenges The Irving, Texas-based contractor will report quarterly earnings Nov. 4 and will take a $163-million write-off in its third-quarter earnings because of unexpected complications in building the 504-MW Greater Gabbard wind farm off the coast of England. The loss on the $1.8-billion, fixed-price contract with Scottish and Southern Energy plc means that the project will be unprofitable, says Avram Fisher, an analyst who
Despite a faltering international market, 2015 and the beginning of 2016 are proving to be strong years for U.S. contractors, with steady domestic growth and only moderate strain from workforce shortages.