Skip to main content

Market Overview

Fluor Stock Gains After Q3 Beat, Raised FY21 Outlook

Fluor Stock Gains After Q3 Beat, Raised FY21 Outlook
  • Fluor Corp (NYSE: FLR) reported a third-quarter FY21 revenue decline of 10.1% year-over-year to $3.1 billion, beating the consensus of $2.76 billion.
  • Sales by segments: Energy Solutions $1.37 billion (+2.1% Y/Y), Urban Solutions $1.01 billion (-23.7% Y/Y) and Mission Solutions $723 million (-8.4% Y/Y).
  • The company reported an adjusted EPS of $0.23, beating the consensus of $0.14.
  • The gross margin contracted by 40 bps to 3.4%. The operating profit increased to $101.56 million (+53.6% Y/Y), and the margin expanded by 136 bps to 3.3%.
  • Total segment profit was $110 million, down by 14.3% Y/Y, and margin contracted by 20 bps to 3.5%.
  • Fluor's cash used in operating activities year-to-date was $219.55 million, compared to cash provided of $144.24 million a year ago. 
  • At the end of the quarter, the company's backlog was $21.03 billion, with new orders of $3.04 billion (+137.2% Y/Y).
  • Fluor's cash and equivalents at Q3-end totaled $2.2 billion compared to $2.7 billion last quarter. The company reduced its outstanding debt by 30% during the quarter.
  • FY21 Outlook: Fluor raised its EPS guidance and now expects adjusted EPS of $0.85 - $1.00 (prior view $0.60 - $0.80) vs. a consensus of $0.61.
  • Price Action: FLR shares are trading higher by 6.75% at $21.66 on the last check Friday.

Related Articles (FLR)

View Comments and Join the Discussion!

Posted-In: Briefs why it's movingEarnings 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.
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