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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.
Fluor
Fluor
Fluor Revenue by Segment
Revenue by Segment
Energy Solutions Revenue
CapyFin.com 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
- COVID-19 pandemic continues to create uncertainty
- Weak commodity prices.