Fluor Q4 2022 Earnings Report
Key Takeaways
Fluor Corporation reported Q4 2022 results with a revenue of $3.7 billion, a net income of $9 million, and an adjusted EPS of $0.43. The company's new awards for the quarter reached $4.6 billion, and the total backlog increased to $26 billion. The company is establishing the following guidance for 2023 and 2026: 2023 Adjusted EBITDA Guidance $450 to $600 million and Adjusted EPS Guidance $1.50 to $1.90 per share
Revenue increased to $3.7 billion compared to $3.6 billion a year ago.
Net earnings from continuing operations attributable to Fluor was $9 million, or ($0.01) per diluted share.
Adjusted EPS for the fourth quarter was $0.43.
New awards for the quarter were $4.6 billion compared to $989 million in 2021.
Fluor
Fluor
Forward Guidance
The company is establishing the following guidance for 2023 and 2026: 2023 Adjusted EBITDA Guidance $450 to $600 million and Adjusted EPS Guidance $1.50 to $1.90 per share
Positive Outlook
- Drive growth across our portfolio, by growing markets outside of the traditional oil and gas sector, including energy transition, advanced technology and life sciences, high-demand metals, infrastructure and nuclear and civil, defense and intelligence for governments
- Pursue contracts with fair and balanced commercial terms, by focusing on more favorable, risk-adjusted agreements that reward Fluor for the value it delivers
- Reinforce financial discipline, by generating predictable cash flow and earnings to maintain a solid balance sheet
- Foster a high-performance culture with purpose, by advancing our diversity, equity and inclusion efforts and promoting social progress and sustainability.
- Excellence in execution, which brings value to all our stakeholders.