Skip to main content

Market Overview

Fluor Stock Gains On Q2 Earnings Beat, Raised FY21 EPS Guidance

Share:
Fluor Stock Gains On Q2 Earnings Beat, Raised FY21 EPS Guidance
  • Fluor Corp (NYSE: FLRreported second-quarter revenue decline of 13% year-over-year to $3.236 billion, beating the consensus of $3.20 billion.
  • Sales by segments: Energy Solutions $1.32 billion (-11.9% Y/Y), Urban Solutions $1.21 billion (-20% Y/Y) and Mission Solutions $707.1 million (-2.4% Y/Y).
  • The company reported an adjusted EPS of $0.32, beating the consensus of $0.09.
  • The gross margin contracted by 30 bps to 1.8%.
  • Total segment profit was $67.2 million, down by 7.2% Y/Y, and margin expanded by 20 bps to 2.1%.
  • The company recorded an operating loss of $2.39 million, compared to a profit of $33.27 million a year ago.
  • Fluor's cash used in operating activities year-to-date was $153.88 million, compared to cash provided $64.09 million a year ago. 
  • At the end of the quarter, the company's backlog was $21.07 billion, with new orders of $1.37 billion (-29% Y/Y).
  • Fluor's cash and marketable securities at the end of the quarter were $2.7 billion compared to $2 billion last quarter.
  • FY21 Outlook: Fluor expects adjusted EPS of $0.60 - $0.80 (prior $0.46 - $0.71) vs. a consensus of $0.56.
  • Price Action: FLR shares are trading higher by 7.23% at $17.8 during the premarket session on the last check Friday.
 

Related Articles (FLR)

View Comments and Join the Discussion!

Posted-In: BriefsEarnings Long Ideas News Guidance Movers Trading Ideas

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com