Loading...
•
Mar 31, 2021
Fluor Q1 2021 Earnings Report
Fluor's Q1 2021 results reflected revenue of $2.9 billion and a net loss of $61 million, or $0.43 per diluted share. Adjusted earnings per diluted share were $0.07, excluding certain expenses.
Key Takeaways
Fluor reported first quarter revenue of $2.9 billion and a net loss of $61 million, or $0.43 per diluted share. Adjusted earnings per diluted share were $0.07. New awards for the quarter were $3.7 billion, and ending consolidated backlog was $23.8 billion.
Revenue for the quarter was $2.9 billion.
Net loss from continuing operations was $61 million, or $0.43 per diluted share.
Adjusted earnings per diluted share were $0.07, excluding certain items.
First quarter new awards were $3.7 billion, and ending consolidated backlog was $23.8 billion.
Fluor
Fluor
Fluor Revenue by Segment
Revenue by Segment
Urban Solutions Revenue
CapyFin.comEnergy Solutions Revenue
CapyFin.comMission Solutions Revenue
CapyFin.com Forward Guidance
Fluor is maintaining its adjusted earnings per share (EPS) guidance of $0.50 to $0.80 per diluted share for 2021. Guidance for 2021 assumes increased opportunities for new awards in the second half of the year as post-pandemic capital spending improves.
Positive Outlook
- Maintaining adjusted EPS guidance of $0.50 to $0.80 per diluted share for 2021.
- Increased opportunities for new awards expected in the second half of the year.
- Post-pandemic capital spending expected to improve.
- Productive conversations with clients are ongoing.
- Prospects and opportunities are expected to pick up in the back half of 2021.
Challenges Ahead
- Adjusted EPS guidance excludes NuScale-related expenses and other adjustments.
- Results for the quarter were impacted by the effects of COVID-19 on projects and operations.
- Corporate general and administrative expenses increased due to higher stock price-driven compensation.
- Energy Solutions segment results reflect a $29 million expense related to an embedded foreign currency derivative.
- Urban Solutions segment results reflect the impacts of COVID delays on a large mining project in South America.
Revenue & Expenses
Visualization of income flow from segment revenue to net income