Fluor Corporation ( (FLR) ) has released its Q3 earnings. Here is a breakdown of the information Fluor Corporation presented to its investors.
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Fluor Corporation is a global engineering and construction company based in Irving, Texas, providing professional and technical solutions for a wide range of industries including energy, urban development, and mission solutions.
In its third quarter of 2024, Fluor Corporation reported robust operational results despite certain challenges. The company achieved a revenue of $4.1 billion and saw an increase in its operating cash flow to $330 million. Adjusted earnings per share were reported at $0.51, reflecting strategic adjustments and ongoing project execution.
Key financial metrics for the quarter included a net earnings figure of $54 million and a consolidated segment profit of $117 million. The company’s backlog increased to $31.3 billion, largely driven by its Urban Solutions segment, which saw a significant rise in new awards. However, the Energy Solutions segment reported lower than expected contributions due to project delays and cost increases.
Looking ahead, Fluor Corporation is poised to benefit from the deconsolidation of NuScale, which is expected to result in a notable gain of $1.6 billion in the fourth quarter. The company is also adjusting its full-year guidance, reflecting the timing of revenue and project adjustments, while focusing on capital allocation and shareholder returns.
As Fluor Corporation navigates the evolving market landscape, its management remains committed to pursuing growth opportunities and enhancing shareholder value through strategic initiatives and disciplined financial management.
