Benzinga -
- Fluor Corp (NYSE: FLR) reported a fourth-quarter FY22 revenue growth of 2.4% year-over-year to $3.71 billion, missing the consensus of $3.80 billion.
- Revenue by segments: Energy Solutions $1.78 billion (+38.6% Y/Y), Urban Solutions $975 million (-2.1% Y/Y), Mission Solutions $509 million (-42.2% Y/Y) and Others $450 million (-3.2% Y/Y).
- Total segment profit improved to $174 million (+20.8% Y/Y), and the margin expanded by 70 bps to 4.7%.
- Adjusted EPS of $0.43 missed the consensus of $0.47.
- Adjusted EBITDA improved by 25.9% Y/Y to $136 million, and the margin expanded by 70 bps to 3.7%.
- The Q4 new awards were $4.6 billion, up from $989 million a year ago. The FY22 backlog was $26 billion.
- Fluor’s cash and marketable securities were $2.6 billion.
- Outlook: Fluor saw FY23 adjusted EPS of $1.50 - $1.90 (consensus $1.66).
- It expects FY26 adjusted EPS of $3.10 - $3.60.
- Price Action: FLR shares are trading lower by 1.5% at $36.10 premarket on the last check Tuesday.
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