Fluor Issues FY24 Adj. Earnings View, Backs FY26 Outlook - Update

(RTTNews) - Professional and technical solutions provider Fluor Corp. (FLR), while reporting a loss in its fourth quarter, on Tuesday issued fiscal 2024 adjusted earnings outlook.

The company also reaffirmed its 2026 adjusted EBITDA guidance of $800 to $950 million.

For fiscal 2024, the company projects adjusted earnings per share of $2.50 to $3.00, and adjusted EBITDA of $600 to $700 million.

Analysts on average expect the company to report earnings of $2.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

In fiscal 2023, Fluor recognized adjusted earnings per share of $2.73 and adjusted EBITDA of $613 million.

In its fourth quarter, net loss attributable to Fluor was $21 million or $0.12 per share, compared to net earnings attributable to Fluor of $9 million or $0.01 loss per share in the prior year.

Adjusted earnings per share were $0.68 for the fourth quarter of 2023.

Revenue for the quarter was $3.8 billion, compared to $3.7 billion a year ago.

Analysts expected the company to report earnings of $0.57 per share, on revenues of $4.11 billion for the quarter.

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