NuScale Investment Milestone
Fluor reached a major milestone with its investment in NuScale, announcing the conversion of its remaining investment into Class A shares. They plan to monetize these shares and deliver significant value to shareholders by mid-2026.
Strong Revenue and Backlog
Revenue for the third quarter was $3.4 billion, and the total backlog remains strong at around $28 billion, with 82% being reimbursable.
Urban Solutions Profit Growth
Urban Solutions reported a profit of $61 million in the third quarter, driven by a ramp-up in recently awarded projects and significant new awards totaling $1.8 billion.
Mission Solutions New Contracts
Mission Solutions reported new awards totaling $1.3 billion, including a $1.1 billion 6-year contract for the DOE, which extends their presence in Ohio.
Positive Cash Flow and Share Repurchases
Fluor generated strong operating cash flow of $286 million in Q3 and plans to repurchase an additional $800 million in shares by February 2026.