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Dec 31, 2022
Fluor Q4 2022 Earnings Report
Fluor reported mixed Q4 2022 results with revenue increase and a slight net income, driven by new awards and segment profits.
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
Fluor Revenue by Segment
Revenue by Segment
Urban Solutions Revenue
CapyFin.comEnergy Solutions Revenue
CapyFin.comMission Solutions Revenue
CapyFin.comOther Revenue
CapyFin.com 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income