Fluor reports Q2 adjusted EPS 43c, consensus 56c

Reports Q2 revenue $3.98B, consensus $4.55B. Reports Q2 backlog $28.2B. “I’m pleased with the tremendous accomplishments achieved by the team on the LNG Canada project, including the first shipment of LNG. We received a contract award to update the FEED package for a proposed phase 2 expansion, and this week an agreement was reached on our COVID claims and other matters,” said Jim Breuer, chief executive officer of Fluor (FLR). “Unfortunately, our results for the quarter were impacted by three long-standing infrastructure projects and a shift in expected capital spending from some clients. We view this shift as temporary and believe that our long-term strategy centered around disciplined project delivery in growth markets will continue to benefit our clients and our shareholders.”