Fluor Q1 2022 Earnings Report
Key Takeaways
Fluor Corporation reported a revenue of $3.1 billion and a net income of $48 million, or $0.27 per diluted share, for Q1 2022. The company's segment profit nearly doubled to $115 million. Fluor reaffirms its 2022 adjusted EPS guidance of $1.15 to $1.40.
Q1 2022 diluted EPS from continuing operations was $0.27; adjusted diluted EPS from continuing operations was $0.16.
Q1 2022 segment profit nearly doubled to $115 million.
The company reaffirmed its 2022 adjusted EPS guidance of $1.15 to $1.40.
The NuScale transaction was completed, and it is now a publicly-traded company.
Fluor
Fluor
Forward Guidance
Fluor reaffirms its adjusted EPS guidance of $1.15 to $1.40 per diluted share. Guidance for 2022 anticipates a substantial volume of new awards from all segments. Guidance also assumes a tax rate of 28 percent.
Positive Outlook
- Substantial volume of new awards from all segments.
- Adjusted EPS guidance of $1.15 to $1.40 per diluted share.
- Strategic focus accelerates change.
- Improved competitive position in key markets.
- Clients moving forward with a significant amount of work.
Challenges Ahead
- Tax rate may vary depending on the country in which profit is generated.
- Higher than anticipated tax expenses.
- Impact of cost growth on an advanced manufacturing project.
- Timing associated with the closing of a P3 transaction.
- Decline in revenue for Urban Solutions and Mission Solutions segments.