Business / Other
Fluor reports record quarterly new awards, swings to profit
Fluor said Nov. 6 that third-quarter revenue rose 10% to $3.7 billion and new awards reached a company-record $10.9 billion.
Source-checked story: attributed primary-source and published reporting; no on-location reporting.
Engineering and construction company Fluor Corp. reported third-quarter revenue of $3.7 billion on Nov. 6, up 10% from $3.4 billion a year earlier, and said new awards of $10.9 billion were the highest quarterly total in its history.
Net earnings attributable to Fluor were $158 million, or $1.16 a share, compared with a loss of $697 million, or $4.30 a share, a year earlier, the Irving, Texas-based company said. The latest quarter included a $73 million pretax gain on the sale of its interest in ICA-Fluor. Adjusted earnings were 77 cents a share, up from 68 cents. Backlog rose 21% to $34.3 billion.
“New awards of $10.9 billion, including LNG Canada Phase 2 as well as two mining projects, was the highest quarterly total in Fluor’s history,” Chief Executive Jim Breuer said. Adjusted EBITDA fell to $142 million from $161 million, according to the release.
Fluor repurchased $300 million of shares in the quarter and $1.1 billion so far this year. It affirmed its 2026 adjusted EBITDA guidance of $500 million to $525 million.
What we know / what we don't
What we know
- Fluor said Nov. 6 that third-quarter revenue rose 10% to $3.7 billion and new awards reached a company-record $10.9 billion.
What we don't know
- Adjusted figures are company-defined non-GAAP measures.
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