Fluor (NYSE:FLR) Announces Earnings Results, Misses Expectations By $0.03 EPS

Fluor (NYSE:FLR) released its earnings results on Friday. The construction company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.03), FiscalAI reports. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $4.16 billion. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS.

Here are the key takeaways from Fluor’s conference call:

• Record awards boosted backlog: Fluor booked a record $10.9 billion in awards in Q3, lifting backlog to $34.3 billion. Management expects book-to-burn above 1 in 2027, though the timing of major project approvals remains uncertain.
• Fluor maintained 2026 adjusted EBITDA guidance of $500 million–$525 million and adjusted EPS guidance of $2.70–$2.80, and preliminarily expects low-double-digit adjusted EBITDA growth in 2027. Management said recent mega-project awards should contribute more as they ramp, with a larger utilization improvement expected in 2028.
• A client scope change could reduce backlog by about $2 billion as early as Q4; the company is still evaluating the impact. Management described it as project-specific rather than a cancellation.
• Fluor has spent more than $2 billion on share repurchases since Q4 2024 and remains on pace to repurchase $1.4 billion of shares in 2026. It ended Q3 with $3.1 billion in cash and equivalents.
• Energy Solutions’ Q3 segment profit was $20 million excluding a $73 million gain from the EcoFluor sale, as mature projects rolled off faster than newer awards ramped up. Fluor also cautioned that favorable project closeouts in Q3 are not expected to repeat in Q4.

Fluor Trading Up 2.9%

FLR traded up $1.32 on Friday, hitting $46.30. 3,388,074 shares of the company were exchanged, compared to its average volume of 2,102,125. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. The firm has a fifty day simple moving average of $50.43 and a two-hundred day simple moving average of $49.34. The stock has a market capitalization of $6.19 billion, a PE ratio of -3.77, a price-to-earnings-growth ratio of 0.95 and a beta of 1.22. Fluor has a 12 month low of $39.33 and a 12 month high of $58.35.

Analysts Set New Price Targets

Several research analysts have commented on FLR shares. Truist Financial reissued a “buy” rating and set a $71.00 price target (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. Zacks Research raised shares of Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. UBS Group upped their price objective on shares of Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Robert W. Baird increased their target price on shares of Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, Weiss Ratings cut shares of Fluor from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.33.

Key Fluor News

Here are the key news stories impacting Fluor this week:

• Positive Sentiment: Fluor reported a record $10.9 billion in third-quarter awards, including LNG Canada Phase 2 and two mining projects. Strong bookings may bolster future work, though management also flagged the possibility of a roughly $2 billion backlog reduction. Fluor Reports Third Quarter 2026 Results
• Positive Sentiment: New project wins and agreements add to Fluor’s opportunity pipeline: the company signed an EPC contract for a large data-center campus in Kentucky, was selected for an advanced small modular reactor project in Washington, and received full notice to proceed on a Chilean mining expansion. TeraWulf EPC contract SMR project selection Sierra Gorda project notice to proceed
• Negative Sentiment: Third-quarter EPS of $0.77 fell short of the $0.80 consensus, while revenue of $2 billion was well below analysts’ $4.16 billion estimate. Revenue did rise 10.5% year over year, but the forecast gap and potential backlog reset could weigh on confidence. Fluor earnings and backlog report

About Fluor

Fluor Corporation is a global engineering, procurement, construction and project-management company serving government and commercial clients. The company provides design and construction services, project development, procurement, maintenance, operations support and consulting for complex infrastructure and industrial projects.

Fluor’s activities span energy, chemicals and advanced technologies, infrastructure, mining and metals, life sciences, and government and national-security programs.