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- Fluor Corp (NYSE:FLR) reported a first-quarter FY22 revenue decline of 6.7% year-over-year to $3.12 billion, beating the consensus of $2.88 billion.
- Revenue by segments: Energy Solutions $1.17 billion (+18.5% Y/Y), Urban Solutions $959 million (-19.7% Y/Y), Mission Solutions $593 million (-21.3% Y/Y) and Others $396 million (-3.2% Y/Y).
- Total segment profit improved to $115 million (+91.7% Y/Y), and margin expanded by 190 bps to 3.7%.
- Adjusted EPS improved to $0.16 for the quarter from $0.03 in 1Q21, missing the consensus of $0.17.
- Q1 new awards were $1.9 billion compared to $3.9 billion a year ago, and the consolidated backlog was $19.3 billion.
- Fluor’s cash and equivalents at the end of the quarter were $2.1 billion.
- FY22 Outlook: Fluor reaffirmed adjusted EPS guidance of $1.15 - $1.40, against the consensus of $1.19.
- Price Action: FLR shares are trading higher by 3.68% at $26.80 during the pre-market session on Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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