Fluor Reports Second Quarter 2026 Results

Strong new awards of $6.1 billion reflect continued demand across key markets Ending backlog of $26.9 billion, 85% reimbursable Completed $175 million divestiture of Mexico JV Returned $300 million to shareholders through repurchases during the quarter; still targeting $1.4 billion for 2026 IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced financial results for its second quarter ended June 30, 2026. “Our second quarter awards demonstrate the successful pull-through of our front-end work and the confidence clients have in Fluor to advance their most important investments,” said Jim Breuer, chief executive officer of Fluor. “These awards reflect conversion of our prospect pipeline, which we continue to replenish with additional opportunities. We remain focused on disciplined growth in our selected markets, strategic capital allocation and long-term value creation for our clients and shareholders.” Q2 2026 Highlights: Revenue of $4.3 billion, up 9% y/y GAAP net earnings attributable to Fluor of $114 million Adjusted EBITDA [1] of $149 million EPS of $0.81; adjusted EPS [1] of $0.91 Consolidated segment profit [1] of $170 million Cash and marketable securities at quarter end were $3.0 billion G&A expenses of $41 million Completed NuScale monetization in April Operating Cash Flow: ($317) million, includes $357 million tax payment related to NuScale monetization New Awards: $6.1 billion, compared with $1.8 billion in the prior-year period; 89% reimbursable Backlog: $26.9 billion; 85% reimbursable, with legacy project backlog reduced to $119 million [1] Non-GAAP Financial Measure. See “Non-GAAP Financial Measures” for additional information. Outlook We are not providing forward-looking guidance for U.S. GAAP net earnings or U.S. GAAP earnings per share, or a quantitative reconciliation of adjusted EBITDA or adjusted EPS guidance, because we are unable to predict with reasonable certainty all of the components required to provide such reconciliation without unreasonable efforts, which are uncertain and could have a material impact on GAAP reported results for the guidance period. See “Non-GAAP Financial Measures” for additional information. The company is narrowing its 2026 adjusted EBITDA guidance from $525 – $560 million to $500 – $525 million. This reduction reflects the removal of the previously estimated 2nd half contribution from the JV in Mexico. Adjusted EBITDA guidance excludes items similar to those outlined in the reconciliation table at the end of this release. Business Segments Urban Solutions reported second quarter segment profit of $38 million, compared with $29 million in the prior-year period, reflecting increased execution levels on mining and metals projects, partially offset by cost growth of $44 million for the now substantially completed Gordie Howe International Bridge project due to the effects of foreign currency fluctuation, a subcontractor bankruptcy and client driven changes. Revenue improved to $2.9 billion, compared with $2.1 billion a year ago. New awards totaled $3.2 billion, compared with $856 million in the prior-year period. Awards for the quarter included a fertilizer project in Canada, an incremental life sciences award in the United States, and an infrastructure project in Europe. Ending backlog was $19.4 billion, compared with $20.6 billion a year ago. Energy Solutions reported second quarter segment profit of $88 million, compared with $15 million in the prior-year period. Results reflect favorable close out items on certain projects, including our former JV in Mexico. Revenue was $709 million, compared with $1.1 billion a year ago. New awards totaled $704 million, compared with $549 million in the second quarter of 2025. New awards for the quarter included a gas compression project on the west coast and the limited notice to proceed on the phase 2 expansion of the LNG Canada project. Ending backlog was $3.5 billion, compared with $5.6 billion a year ago. Mission Solutions reported second quarter segment profit of $44 million, compared with $35 million in the prior year period. Results reflect improved award fee performance within our DOE portfolio. Second quarter revenue was $716 million, compared with $762 million a year ago. New awards increased to $2.2 billion from $363 million in the second quarter of 2025 and included the reimbursable EPC contract for the Centrus nuclear fuel enrichment facility. Conference CallRead the full story here

Fluor Reports Second Quarter 2026 Results

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