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Jun 30, 2023
Fluor Q2 2023 Earnings Report
Reported strong performance from Energy Solutions and Urban Solutions, with revenue increase and raised adjusted EPS guidance.
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
Revenue by Segment
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
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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