Company Reports

Fluor is one of the largest global providers of engineering, procurement, construction, operations, and maintenance services. The firm serves a wide range of end markets, including oil and gas, chemicals, mining, and transportation. Fluor operates three core segments: energy solutions, urban solutions, and mission solutions.

Fluor's second-quarter adjusted earnings per share of $0.91 easily beat the $0.70 FactSet consensus estimate, sending shares up roughly 17% following the earnings release. Second-quarter revenue was up 9% year over year.

Fluor started the year with a rough first quarter, as adjusted EPS of $0.14 missed the FactSet consensus estimate by $0.48. Revenue declined 8% year over year to $3.6 billion and fell $0.3 billion short of consensus expectations.

Fluor is one of the largest global providers of engineering, procurement, construction, operations, and maintenance services. The firm serves a wide range of end markets, including oil and gas, chemicals, mining, and transportation. Fluor operates three core segments: energy solutions, urban solutions, and mission solutions.

Fluor's fourth-quarter sales declined by roughly 2% year over year to $4.2 billion. For 2026 management anticipates adjusted EBITDA in the range of $525 million to $585 million, higher at the midpoint than the FactSet consensus estimate of $531 million.

Fluor is one of the largest global providers of engineering, procurement, construction, fabrication, operations, and maintenance services. The firm serves a wide range of end markets, including oil and gas, chemicals, mining, and transportation. Fluor operates three core segments: energy solutions, urban solutions, and mission solutions.

Artificial intelligence jitters have roiled the market this week, leading to a selloff in firms seen as vulnerable to AI disruption. The AI fears spread to engineering and construction firms on Feb. 12, with shares closing down roughly 8% for Jacobs, 10% for AtkinsRealis, and 12% for Aecom.

Fluor increased its third-quarter adjusted earnings per share by 33% year over year to $0.68. Management raised its 2025 outlook and now anticipates full-year adjusted EPS of $2.10-$2.25, up from $1.95-$2.15 previously.

Fluor is one of the largest global providers of engineering, procurement, construction, fabrication, operations, and maintenance services. The firm serves a wide range of end markets, including oil and gas, chemicals, mining, and transportation. Fluor operates three core segments: energy solutions, urban solutions, and mission solutions.

Fluor's stock plunged 27% on Aug. 1 after management slashed its 2025 outlook, lowering its full-year adjusted earnings per share guidance to $1.95-$2.15 from $2.25-$2.75.

Fluor is one of the largest global providers of engineering, procurement, construction, fabrication, operations, and maintenance services. The firm serves a wide range of end markets, including oil and gas, chemicals, mining, and transportation. Fluor operates three core segments: energy solutions, urban solutions, and mission solutions.

Fluor is one of the largest global providers of engineering, procurement, construction, fabrication, operations, and maintenance services. The firm serves a wide range of end markets, including oil and gas, chemicals, mining, and transportation. Fluor operates three core segments: energy solutions, urban solutions, and mission solutions.

Fluor shares are up by nearly 45% since May 1, fueled by the rapid rise in the value of its equity stake in NuScale Power, which has developed small modular reactor, or SMR, nuclear technology.

Fluor is one of the largest global providers of engineering, procurement, construction, fabrication, operations, and maintenance services. The firm serves a wide range of end markets, including oil and gas, chemicals, mining, and transportation. Fluor operates three core segments: energy solutions, urban solutions, and mission solutions.

No-moat Fluor delivered first-quarter adjusted EPS of $0.73, up from $0.47 in the prior-year period. We’ve lowered our fair value estimate to $52 from $54, which reflects our slightly more muted projections for near-term revenue growth and operating margins amid tariff-related uncertainty. Shares are currently trading at a roughly 32% discount to our updated fair value estimate, which we view as an attractive entry point for long-term investors.

We are maintaining our $54 per share fair value estimate after reviewing Fluor’s April 2 strategy update presentation. We think the company doesn’t get enough credit for its improved cash flow generation and upside from potential monetization of its equity stake in NuScale Power. Shares are currently trading at more than a 30% discount to our fair value estimate, which we see as an attractive entry point for patient investors who can stomach near-term volatility.

Fluor is one of the largest global providers of engineering, procurement, construction, fabrication, operations, and maintenance services. The firm serves a wide range of end markets including oil and gas, chemicals, mining, and transportation. Fluor operates three core segments: energy solutions, urban solutions, and mission solutions.

We are upgrading Fluor's Morningstar Capital Allocation Rating to Standard, from Poor, as we believe the company has meaningfully reduced the risk profile of its backlog since 2021. Our $54 fair value estimate remains unchanged. The stock is currently trading nearly 30% below our fair value estimate, which we see as an attractive entry point for investors with a long-term horizon.

No-moat Fluor’s shares plunged by over 10% in intraday trading on Feb. 18 after the firm’s fourth-quarter adjusted EPS of $0.48 missed the FactSet consensus estimate by $0.30. Management’s full-year 2025 adjusted EPS guidance of $2.25 to $2.75 also came in below the $2.91 consensus estimate. Despite the soft 2025 outlook, we are raising our fair value estimate for Fluor to $54 per share from $44.50, driven by our more optimistic midcycle operating margin expectations as well as a higher value of Fluor’s equity stake in NuScale. With the stock trading roughly 28% below our updated fair value estimate, we see this as a buying opportunity for patient investors who can stomach near-term volatility.

Fluor is one of the largest global providers of engineering, procurement, construction, fabrication, operations, and maintenance services. The firm serves a wide range of end markets including oil and gas, chemicals, mining, and transportation. Fluor operates three core segments: energy solutions, urban solutions, and mission solutions.