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Dec 31, 2023
Fluor Q4 2023 Earnings Report
Reported a net loss due to settlement of claims offset by cost growth, schedule extension, and a loss on sale of Stork business, but achieved new awards.
Key Takeaways
Fluor Corporation reported a net loss for Q4 2023, influenced by project-specific issues and a business sale, while new awards significantly increased. Full year revenue was $15.5 billion and net income attributable to Fluor was $139 million, or $0.54 per diluted share.
Net loss attributable to Fluor was $21 million, or ($0.12) per diluted share.
Revenue for the quarter was $3.8 billion.
New awards for the quarter were $7.6 billion.
Adjusted EBITDA was $145 million and adjusted EPS was $0.68.
Revenue by Segment
Forward Guidance
The company is establishing an adjusted EBITDA guidance for 2024 of $600 to $700 million and adjusted EPS of $2.50 to $3.00 per share. The company is also reaffirming its 2026 adjusted EBITDA guidance of $800 to $950 million.
Positive Outlook
- Volume of new awards received over the past two years
- Early achievement of our 75% reimbursable backlog target
- Robust and diverse prospect pipeline
- Adjusted EBITDA guidance for 2024 of $600 to $700 million
- Adjusted EPS of $2.50 to $3.00 per share
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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