Fluor Q2 2023 Earnings Report
Key Takeaways
Fluor Corporation reported a strong second quarter with a 20% increase in revenue to $3.9 billion and net earnings of $61 million. The company raised its full year adjusted EPS guidance and tightened its adjusted EBITDA guidance, reflecting confidence in its strategic direction and the demand for its services.
Q2 2023 net earnings attributable to Fluor of $61 million reflects strong performance from Energy Solutions and Urban Solutions
Q2 2023 diluted earnings per share (EPS) of $0.35; adjusted diluted EPS of $0.76
Q2 2023 revenue of $3.9 billion, an increase of 20% compared to prior year
New awards of $3.7 billion, 70% reimbursable
Fluor
Fluor
Forward Guidance
Fluor is increasing its full year adjusted EPS guidance from $1.50 to $1.90 per diluted share to a range of $2.00 to $2.30 per diluted share. The company is also tightening its full year adjusted EBITDA guidance from the previous range of $450 to $600 million to an updated range of $500 to $600 million.
Positive Outlook
- Strong underlying performance of our non-legacy portfolio
- Achieving as-sold margins on large Energy Solutions projects