Strong First Quarter Revenue
Fluor reported first-quarter revenue of $4 billion, with consolidated new awards strong at $5.8 billion. The book to burn ratio was 1.5, and the total backlog stands at $28.7 billion, with 79% reimbursable.
Significant New Awards in Urban Solutions
Urban Solutions reported a profit of $70 million, driven by a ramp-up in execution activities with new awards totaling $5.3 billion for the quarter, compared to $4.9 billion the previous year.
Continued Growth in ATLS
ATLS had a strong quarter, securing a new award from a leading pharmaceutical company for EPCM services. The segment is also advancing existing projects, including a biotech project in Denmark.
LNG Canada Progress
Field progress on LNG Canada is advancing to the final stages, with significant milestones achieved, such as receiving an LNG commissioning cargo.
Improved Adjusted EBITDA and EPS
Adjusted EBITDA for Q1 was $155 million, up from $88 million a year ago. Adjusted EPS was $0.73, an increase from $0.47 in the previous year.