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Mar 31, 2020
Fluor Q1 2020 Earnings Report
Fluor's financial performance was impacted by COVID-19 and weak commodity prices, resulting in a net loss despite an increase in consolidated segment profit.
Key Takeaways
Fluor Corporation reported a revenue of $4.1 billion and a net loss of $171 million, or $1.22 per diluted share, for the quarter ended March 31, 2020. The results were affected by non-cash impairments, project adjustments due to COVID-19, and a tax benefit from the CARES Act. New awards totaled $4.2 billion, and the ending backlog was $31.4 billion.
Revenue for the quarter was $4.1 billion.
Net loss from continuing operations was $171 million, or $1.22 per diluted share.
New awards for the first quarter were $4.2 billion.
Ending backlog was $31.4 billion.
Forward Guidance
Fluor has suspended its guidance for 2020 and expects to report second quarter results in approximately four weeks and third quarter results four weeks after that. The company will hold its next call with the investment community in conjunction with the release of its third quarter results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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