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Fluor Corp. Q2'25 Earnings Highlights

$FLR (+2,11%)


๐Ÿ”น Revenue: $4.00B (Est. $4.55B) ๐Ÿ”ด; -6% YoY

๐Ÿ”น Adj. EPS: $0.43 (Est. $0.56) ๐Ÿ”ด; -49% YoY


FY25 Adj Guidance (Lowered)

๐Ÿ”น EPS: $1.95โ€“$2.15 (Prior: $2.25โ€“$2.75) ๐Ÿ”ด

๐Ÿ”น EBITDA: $475Mโ€“$525M (Prior: $575Mโ€“$675M) ๐Ÿ”ด

๐Ÿ”น Tax Rate Assumption: 30%


Segment Highlights


Urban Solutions

๐Ÿ”น Revenue: $2.1B (vs. $1.8B YoY); Profit: $29M (vs. $105M YoY)

๐Ÿ”น Impacted by $54M in infra project cost growth (design errors, price escalation)

๐Ÿ”น New Awards: $856M (vs. $2.4B YoY); Backlog: $20.5B (UP +5% YoY)


Energy Solutions

๐Ÿ”น Revenue: $1.1B (vs. $1.6B YoY); Profit: $15M (vs. $75M YoY)

๐Ÿ”น Hit by $31M arbitration loss; work curtailed at JV pending payments

๐Ÿ”น New Awards: $549M (vs. $582M YoY); Backlog: $5.6B (vs. $8.5B YoY)


Mission Solutions

๐Ÿ”น Revenue: $762M (vs. $704M YoY)

๐Ÿ”น Impacted by temporary stop-work on Pacific airfield project

๐Ÿ”น New Awards: $363M (vs. $63M YoY); Backlog: $2.0B (vs. $3.8B YoY)


Other Key Q2 Metrics:

๐Ÿ”น Adj. EBITDA: $96M; -42% YoY

๐Ÿ”น Consolidated Segment Profit: $78M; -60% YoY

๐Ÿ”น Operating Cash Flow: -$21M (vs. $282M YoY); FY guide: $200โ€“$250M

๐Ÿ”น Cash & Marketable Securities: $2.3B


Strategic & Project Updates

๐Ÿ”ธ First LNG cargo shipped from LNG Canada project

๐Ÿ”ธ Reached agreement on COVID-related claims tied to infra projects

๐Ÿ”ธ NuScale: Converting 15M Class B shares in August

๐Ÿ”ธ Repurchased $153M in shares during Q2


๐Ÿ”ธ โ€œQuarter was challenged by legacy infrastructure projects and delayed client capital spend, but long-term strategy remains intact.โ€ โ€“ CEO Jim Breuer

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