Fluor Q3 revenue rises on record new awards
Overview
U.S. engineering and construction firm's Q3 revenue up 10% yr/yr, missing analyst expectations
Adjusted EPS for Q3 rose 13% yr/yr but missed analyst expectations
Company reported record $10.9 bln in new awards and 21% backlog increase
Outlook
Fluor affirms 2026 adjusted EBITDA guidance of $500 mln to $525 mln
Result Drivers
RECORD NEW AWARDS - Co said Q3 results were driven by $10.9 bln in new awards, including LNG Canada Phase 2 and two mining projects, per CEO Jim Breuer
SEGMENT PROFIT IMPROVEMENT - Urban Solutions and Mission Solutions segments saw higher profit and margins due to improved project performance and milestone achievements
ENERGY SOLUTIONS GAINS - Energy Solutions segment profit benefited from a $73 mln gain on sale of ICA-Fluor JV interest
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $3.70 bln | $4.16 bln (6 Analysts) |
Q3 Adjusted EPS | Miss | $0.77 | $0.80 (7 Analysts) |
Q3 EPS | $1.16 | ||
Q3 Net Income | $158 mln |
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)