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Fluor Q3 revenue rises on record new awards

By Reuters News


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


Reuters Recommended Reads

  • Nov 4 - Construction firm Tutor Perini's Q3 revenue beats estimates

  • Nov 5 - Centuri Holdings Q3 revenue jumps 40%, beats estimates

  • Nov 5 - Sweden's Skanska Q3 revenue beats on construction segment growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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