Fluor Stock Gains After Q1 Results, Reaffirms FY22 Guidance
- Fluor Corp NYSE:FLR reported a first-quarter FY22 revenue decline of 6.7% year-over-year to
$3.12 billion , beating the consensus of$2.88 billion . - Revenue by segments: Energy Solutions
$1.17 billion (+18.5% Y/Y), Urban Solutions$959 million (-19.7% Y/Y), Mission Solutions$593 million (-21.3% Y/Y) and Others$396 million (-3.2% Y/Y). - Total segment profit improved to
$115 million (+91.7% Y/Y), and margin expanded by 190 bps to 3.7%. - Adjusted EPS improved to
$0.16 for the quarter from$0.03 in 1Q21, missing the consensus of$0.17 . - Q1 new awards were
$1.9 billion compared to$3.9 billion a year ago, and the consolidated backlog was$19.3 billion . - Fluor's cash and equivalents at the end of the quarter were
$2.1 billion . - FY22 Outlook: Fluor reaffirmed adjusted EPS guidance of
$1.15 -$1.40 , against the consensus of$1.19 . - Price Action: FLR shares are trading higher by 3.68% at
$26.80 during the pre-market session on Friday.