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IRVING, Texas - Fluor Corporation (NYSE:FLR) reported better-than-expected first quarter earnings on Friday, while maintaining its full-year 2025 guidance.
The engineering and construction company’s shares edged up 0.64% following the results.
Fluor posted adjusted earnings per share of $0.73 for Q1 2025, surpassing analyst estimates of $0.50. However, revenue came in at $3.98 billion, falling short of the $4.18 billion consensus forecast. Revenue increased 7% YoY.
The company reaffirmed its 2025 adjusted EPS guidance range of $2.25 to $2.75, compared to analyst expectations of $2.48.
"We are well positioned for the grow and execute chapter of our Building a Better Future strategy," said CEO Jim Breuer. "As we continue to deliver on our projects and take in quality backlog, we see substantial opportunities for growth in our key markets."
Fluor reported new awards totaling $5.8 billion in Q1, down 17% YoY. The company’s backlog stood at $28.7 billion at quarter-end, with 79% coming from reimbursable projects.
The Urban Solutions segment saw profit rise to $70 million from $50 million last year, while Energy Solutions profit declined to $47 million from $68 million. Mission Solutions profit fell to $5 million from $22 million.
CFO John Regan noted, "Today we are on a much more solid footing financially, supported by a majority reimbursable backlog and a robust outlook for cash generation."
Fluor accelerated share repurchases in Q1, buying back $142 million worth of stock. The company is targeting $600 million in repurchases for 2025.
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