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Jun 30, 2022
Fluor Q2 2022 Earnings Report
Fluor's second quarter performance in 2022 was marked by new awards and backlog, but impacted by legacy infrastructure projects and currency fluctuations.
Key Takeaways
Fluor Corporation reported Q2 2022 revenue of $3.3 billion and net income of $66 million, or $0.38 per diluted share. The company introduced full year adjusted EBITDA guidance range of $380 to $430 million. New awards for the quarter were $3.6 billion, with an ending backlog of $19.5 billion.
Q2 2022 diluted EPS from continuing operations was $0.38; adjusted diluted EPS from continuing operations was $0.13.
The company introduced a full year adjusted EBITDA guidance range of $380 to $430 million.
Q2 new awards totaled $3.6 billion, with an ending backlog of $19.5 billion.
NuScale de-SPAC transaction was completed in Q2; Fluor’s ownership is 57%.
Revenue by Segment
Forward Guidance
Fluor is tightening its full year adjusted earnings per share (EPS) guidance from a range of $1.15 to $1.40 per diluted share to a range of $1.15 to $1.35 per diluted share. For 2022, the company anticipates a full year adjusted EBITDA range of $380 to $430 million.
Positive Outlook
- Improved bookings
- Increased project gross margin
- Lower segment overhead
Challenges Ahead
- Higher effective tax rate due to our current mix of global earnings
- Impact of foreign currency translations
- Project charges in the second quarter
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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