Fluor Revenue, New Award Value Fall

Dow Jones05-08 18:37

By Nicholas Miller

Fluor reported on Friday lower first-quarter revenue and new award value and lowered the top end of its full-year profit guidance to reflect higher costs and a project slowdown.

The company swung to a profit of $160 million, or $1.08 a share, compared with a loss of $241 million, or $1.42 a share, the year prior.

Adjusted earnings were 14 cents a share. Analysts polled by FactSet expected 62 cents a share.

Revenue fell 8% to $3.66 billion. Wall Street expected $3.89 billion. Mission solutions revenue decreased to $523 million from $597 million a year ago. Revenue for the company's energy solutions business declined to $703 million, compared with $1.2 billion in the prior year, reflecting reduced execution activity on several projects nearing completion.

New awards totaled $2.7 billion, down 54%. The decline was driven by the company's urban solutions segment, where new awards for the quarter fell to $2.1 billion from $5.3 billion a year ago, when the company recognized a large pharmaceutical award.

Fluor lowered the top end of its adjusted earnings before interest, taxes, depreciation and amortization guidance. It now sees full-year adjusted EBITDA of $525 million to $560 million, compared with its previous forecast of $525 million to $585 million.

The company said the revision reflects cost growth on a mining project in the Americas, and a temporary slowdown on another project due to Middle East geopolitical concerns.

Write to Nicholas Miller at nicholas.miller@wsj.com

(END) Dow Jones Newswires

May 08, 2026 06:37 ET (10:37 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Analysts polled by FactSet expected 62 cents a share. \n</p>\n<p>\n  Revenue fell 8% to $3.66 billion. Wall Street expected $3.89 billion. Mission solutions revenue decreased to $523 million from $597 million a year ago. Revenue for the company's energy solutions business declined to $703 million, compared with $1.2 billion in the prior year, reflecting reduced execution activity on several projects nearing completion. \n</p>\n<p>\n  New awards totaled $2.7 billion, down 54%. The decline was driven by the company's urban solutions segment, where new awards for the quarter fell to $2.1 billion from $5.3 billion a year ago, when the company recognized a large pharmaceutical award. \n</p>\n<p>\n  Fluor lowered the top end of its adjusted earnings before interest, taxes, depreciation and amortization guidance. 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