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Mar 31, 2025
Fluor Q1 2025 Earnings Report
Fluor Corporation reported its financial results for the first quarter of 2025, showing a decrease in net earnings but an increase in total revenue compared to the previous year.
Key Takeaways
Fluor Corporation experienced a decline in net earnings for Q1 2025, reporting a loss of $232 million compared to a profit of $40 million in Q1 2024. This was primarily due to a significant equity method loss of $393 million. However, total revenue increased to $3,982 million from $3,734 million in the prior year, driven by strong performance in Urban Solutions.
Net earnings attributable to Fluor decreased significantly to a loss of $241 million in Q1 2025, compared to a profit of $59 million in Q1 2024.
Total revenue increased to $3,982 million in Q1 2025 from $3,734 million in Q1 2024, primarily driven by Urban Solutions.
The company recognized a pre-tax loss of $477 million from its investment in NuScale due to mark-to-market adjustments.
Operating cash flow was negative $286 million in Q1 2025, a larger outflow compared to negative $111 million in Q1 2024.
Revenue by Segment
Forward Guidance
Fluor expects to repurchase approximately $150 million of its stock during Q2 2025 and approximately $300 million during the latter half of 2025. The company anticipates its Other segment results to be immaterial for 2025.
Positive Outlook
- Anticipated cash generated from operations, unused credit capacity, and cash position are expected to be sufficient to support operating requirements and debt maturities for at least the next 12 months.
- The company has a stock repurchase program in place, with over 24,000,000 shares still available for purchase as of March 31, 2025.
- The company expects to repurchase approximately $150 million of its stock during the second quarter of 2025.
- The company expects to repurchase approximately $300 million of its stock during the latter half of 2025.
- The sale of Stork's U.K. operations was completed, and the divestiture will be complete after winding down Trinidad and Tobago operations later this year.
Challenges Ahead
- The company's investment in NuScale resulted in a pre-tax loss of $477 million for the 2025 Quarter.
- Operating cash flow is typically lower in the first quarter due to the timing of payout of employee incentive awards from the prior year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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