Fluor narrows 2026 adjusted EBITDA guidance to $500-$525 mln, down from $525-$560 mln
Company does not provide GAAP net earnings or EPS guidance for 2026
Result drivers
NEW AWARDS - Co said strong new awards of $6.1 bln reflected continued demand across key markets and successful conversion of its prospect pipeline
MINING AND METALS EXECUTION - Urban Solutions segment profit rose due to increased execution levels on mining and metals projects
FAVORABLE CLOSE-OUTS - Energy Solutions segment profit increased, reflecting favorable close out items on certain projects, including former JV in Mexico
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for Fluor Corp is $52.50, about 7.7% above its August 6 closing price of $48.75
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 18 three months ago
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