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Dec 31, 2020
Fluor Q4 2020 Earnings Report
Announced fourth quarter and full year 2020 results.
Key Takeaways
Fluor Corporation reported a net loss from continuing operations of $115 million, or $0.82 per diluted share, for the fourth quarter of 2020. Consolidated segment profit for the fourth quarter of 2020 was $75 million. Revenue for the quarter was $3.7 billion.
Net loss from continuing operations was $115 million, or $0.82 per diluted share.
Consolidated segment profit was $75 million.
Revenue for the quarter was $3.7 billion.
Corporate G&A expenses were $147 million, compared with $46 million a year ago, due to unfavorable foreign currency transaction losses of $61 million and higher stock price driven compensation.
Revenue by Segment
Forward Guidance
For 2021, Fluor is establishing its initial adjusted EPS guidance at a range of $0.50 to $0.80 per diluted share. Guidance for 2021 assumes increased opportunities for new awards in the second half of the year as post-pandemic capital spending improves.
Positive Outlook
- Adjusted EPS guidance at a range of $0.50 to $0.80 per diluted share.
- Guidance excludes NuScale related expenses and any impact from foreign currency exchange gains or losses, restructuring or impairments.
- Guidance assumes increased opportunities for new awards in the second half of the year.
- Post-pandemic capital spending is expected to improve.
- New credit facility improves liquidity position
Challenges Ahead
- Adjusted EPS guidance excludes impact from foreign exchange fluctuations.
- Adjusted EPS guidance excludes restructuring or impairments.
- Results for 2020 reflect reduced volumes of higher-margin operations and maintenance activities as a result of COVID-19
Historical Earnings Impact
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Avg. Return Before/After Earnings
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