Fluor Corporation (FLR) Earnings
Fluor Corporation is expected to report next earnings on July 31, 2026 (in NaN days), with a consensus EPS estimate of $0.68. FLR has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise -14.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 8, 2026 | $0.66 | $0.14 | -78.8% | $3.7B | -5.9% |
| Feb 17, 2026 | $0.34 | $0.33 | -2.9% | $4.2B | +5.7% |
| Nov 7, 2025 | $0.45 | $0.68 | +51.1% | $3.4B | -19.8% |
| Aug 1, 2025 | $0.59 | $0.43 | -27.1% | $4.0B | -5.2% |
| May 2, 2025 | $0.50 | $0.73 | +46.0% | $4.0B | -12.8% |
| Feb 18, 2025 | $0.78 | $0.48 | -38.5% | $4.3B | +2.7% |
| Nov 8, 2024 | $0.76 | $0.51 | -32.9% | $4.1B | -13.6% |
| Aug 2, 2024 | $0.68 | $0.85 | +25.0% | $4.2B | -3.1% |
| May 3, 2024 | $0.54 | $0.47 | -13.0% | $3.7B | -0.7% |
| Feb 20, 2024 | $0.56 | $0.68 | +21.4% | $3.8B | -7.1% |
| Nov 3, 2023 | $0.56 | $1.02 | +82.1% | $4.0B | +1.9% |
| Aug 4, 2023 | $0.36 | $0.76 | +111.1% | $3.9B | +7.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 8, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Floor has a strong prospect pipeline and growth trajectory, with many front-end awards announced. Consolidated new awards were $2.7 billion, 98% reimbursable, and margins on new awards were 200 basis points higher than the current backlog. Backlog improved to $25.7 billion. Urban Solutions had a $6 million segment profit but faced issues with a mining project's productivity. Life sciences and advanced manufacturing are in an up cycle, and data center efforts are ongoing. Mining and metals had a segment loss but new awards. Energy Solutions saw an increase in segment profit. Mission Solutions had a segment loss due to a court ruling. - Regarding the Middle East, priority is on employee safety, activities continue, and longer-term implications are being monitored. In Venezuela, there are active discussions with clients and local partners, positioning for work as investment plans firm up
Guidance
- Narrowed the full year 2026 adjusted EBITDA guidance to $525 to $560 million from $525 to $585 million. Anticipates adjusted EPS between $2.60 and $2.80 per share. Operating cash flow is expected at $300 million. Corporate G&A expenses are projected to be $175 to $185 million. The revenue split is approximately 65% urban, 20% energy, and 15% mission. Assuming these splits, expected segment margins are 2.5% to 3.5% in urban, 5% to 6% in energy solutions, and 6% in mission solutions. If the Middle East impacts persist, guidance will be updated in Q3
Segment performance
Urban Solutions reported a $6 million segment profit in the quarter, with a $37 million impact from a mining project in the Americas with declining productivity. New awards were $2.1 billion, ending backlog at $19 billion (74% of total backlog). Life sciences and advanced manufacturing are in a capital spending up cycle, with data center efforts like signing a limited notice to proceed with TerraWolf. Mining and metals had a $6 million segment loss due to a mining project's productivity decline, with $2.1 billion in new awards. Energy Solutions had a $74 million segment profit, with $213 million in new awards including the America First Refinery and a small modular reactor project. Mission Solutions had a $71 million segment loss due to a court ruling, with $332 million in new awards and ending backlog at $2.5 billion
Risks & headwinds
- The Middle East situation could cause supply chain delays, reconfiguring, higher inflation, and interest rates, as well as capital spending implications by clients. There is potential disruption to the business trajectory due to the Middle East conflict. Uncertainty exists around the court ruling appeal and potential payment timing extending beyond 2026. Challenges in the data center market regarding contract and commercial terms, especially risk allocation
Analyst Q&A
Q: For John, understanding the puts and takes of the guidance, drivers behind the EPS ramp in the remaining quarters; for Jim, about the Middle East opportunity in energy infrastructure rebuild and PowerGen opportunities.
A: John mentions normalization items such as the mining charge and higher G&A run rate, expects outperformance in the business, tailwinds from the Energy Solutions Group, better performance in Mexico in Q2, and the pull through of early awards. Jim talks about the pre-Middle East conflict pipeline growth, the Middle East increasing the chances of front-end work materializing, and PowerGen opportunities with clients, balancing opportunities with discipline
Q: Jim, characterize the 200 BIPs improvement in new business into the backlog relative to recent quarters, the mix of front-end vs EPC, and how it may change.
A: The 200 basis point improvement is due to services work, better bidding conditions, and selective project conversion based on risk-reward, expects margins to improve as backlog grows over the quarters
Q: Jim, discussions with hyperscalers, data center and semiconductor opportunities, and urban solutions.
A: Selective in data center work due to commercial terms, disciplined, looking at advanced technologies beyond data centers, the magnet facility in the US, and the power market as the greatest growth opportunity related to AI buildup
Q: Steven, detail on the mining project, timing of completion, productivity assumptions, why it was fixed price, and comfort on no further charges; scenarios if the Middle East is not improved by the second quarter.
A: The mining project is nearing 80% construction, declining productivity led to the charge, it's an isolated item, the team is working to finish by the end of the year, and the project is similar to past successful ones; no specific scenarios detailed but watching the Middle East impact
Q: Cindy, the total magnitude of the closeouts and apportionment between the three favorable closeouts.
A: The big three projects are in China, Kazakhstan, and Canada, with the timing of closeouts creating tailwinds, in line with full year expectations
Q: Andy, the impact of the scope adjustment on profits in the quarter and its effect on the year's guidance.
A: There was a little bit of a negative sawtooth impact in the quarter, around $10 million, recaptured across 2026, acting as a bridging item for the Q1 run rate to the full year guide
Q: Andy, Jim, about 2026 new awards being higher than 2025, the LNGC phase two probability, and Venezuela conversations.
A: Jim is confident that 2026 awards will be higher than 2025, the LNGC phase two project is looking up with multibillion-dollar award potential; in Venezuela, there are active discussions, positioning for work, and a huge opportunity set with more clarity expected in the next few months