Fluor Q1 EPS Plunges to $0.14; Revenue Slides 8% to $3.66B
FLR•Fluor reported Q1 EPS of $0.14, missing the $0.66 consensus and down from $0.73 year-over-year, while revenue dropped 8% to $3.66 billion versus a $3.89 billion estimate. CEO Jim Breuer highlighted an expanding project pipeline and completed a profitable sale of its NuScale Power stake.
1. Q1 Financial Performance
Fluor reported Q1 EPS of $0.14, missing the $0.66 consensus and down from $0.73 a year earlier. Revenue declined 8% to $3.66 billion, below the $3.89 billion estimate and marking the fourth consecutive quarter of revenue shortfalls.
2. Project Pipeline Outlook
CEO Jim Breuer highlighted a growing pipeline of awards across gas-fueled, nuclear power, refining and data center projects, underscoring potential backlog expansion despite a project charge this quarter. Management indicated that new contract wins could support revenue and margin growth in upcoming quarters.
3. NuScale Power Stake Sale
Fluor completed the sale of its NuScale Power position, which was first acquired in 2011, capturing gains after a substantial share-price rally. The divestment reflects a strategic reallocation of capital from a successful investment back into core engineering and construction operations.
