The earnings call presented a mixed outlook. While Fluor highlighted progress in NuScale share conversion and milestones on the LNG Canada project, challenges in infrastructure project costs, reduced Energy Solutions profit, and cash flow issues were notable. The company also experienced delays in client investment decisions due to economic uncertainty.

Company Guidance

In the second quarter of 2025, Fluor reported revenue of $4 billion and consolidated new awards amounting to $1.8 billion, with 72% being reimbursable. The company also recorded $1.7 billion in positive backlog adjustments for scope changes on existing reimbursable work. For the first half of the year, new awards totaled $7.6 billion, with a book-to-burn ratio above 1, while total backlog remained around $28 billion, with 80% reimbursable. The Urban Solutions segment reported a profit of $29 million, impacted by a $54 million net effect from cost growth and expected recoveries on three infrastructure projects. The segment also faced lower take-up on mining and metals projects and slower-than-expected revenue ramp-up on a large life sciences project, with new awards for the quarter reaching $856 million. Furthermore, Fluor revised its adjusted EBITDA guidance for 2025 to $475 million to $525 million and adjusted EPS to $1.95 to $2.15, ascertaining new awards outlook between $13 billion to $15 billion.

NuScale Share Conversion

Fluor announced the conversion of 15 million NuScale Class B shares into Class A securities, which is seen as a positive step towards returning value to shareholders.

Positive Backlog Adjustments

Fluor recognized $1.7 billion in positive backlog adjustments for scope changes on existing reimbursable work, contributing to a strong total backlog of approximately $28 billion.

LNG Canada Milestones

Fluor achieved Ready for Startup (RFS) on Train 1 of LNG Canada, with the first cargo of LNG shipped on schedule. A settlement agreement was reached covering COVID claims and other matters.

Significant Urban Solutions Backlog

Urban Solutions ended with a backlog of $20.6 billion, representing 73% of Fluor's total backlog, despite some challenges in project execution and timelines.

Fluor (FLR) Earnings, Revenues Date & History

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FLR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 31, 2025	2025 (Q3)	0.47 / -	0.51	―	―	―
Aug 01, 2025	2025 (Q2)	0.55 / 0.43	0.85	-49.41% (-0.42)
May 02, 2025	2025 (Q1)	0.50 / 0.73	0.47	55.32% (+0.26)
Feb 18, 2025	2024 (Q4)	0.78 / 0.48	0.68	-29.41% (-0.20)
Nov 08, 2024	2024 (Q3)	0.76 / 0.51	1.02	-50.00% (-0.51)
Aug 02, 2024	2024 (Q2)	0.73 / 0.85	0.76	11.84% (+0.09)
May 03, 2024	2024 (Q1)	0.54 / 0.47	0.28	67.86% (+0.19)
Feb 20, 2024	2023 (Q4)	0.57 / 0.68	0.43	58.14% (+0.25)
Nov 03, 2023	2023 (Q3)	0.56 / 1.02	0.07	1357.14% (+0.95)
Aug 04, 2023	2023 (Q2)	0.43 / 0.76	0.13	484.62% (+0.63)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

FLR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 01, 2025	$56.77	$41.42	-27.04%
May 02, 2025	$35.78	$35.77	-0.03%
Feb 18, 2025	$43.40	$39.75	-8.41%
Nov 08, 2024	$58.93	$50.93	-13.58%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.