“We believe that the recent deployment of additional, experienced resources to these projects and our associated claim positions will put us on the straightest path to completion and accelerate our efforts to deliver consistent and repeatable operational results.”įirst quarter new awards were consistent with company expectations at $3.2 billion compared to $1.9 billion a year ago. “The underlying performance of our healthy backlog continues to be impacted by a few remaining legacy projects,” said David Constable, chairman and chief executive officer of Fluor. See “Non-GAAP Financial Measures” for additional information. Excluding the adjustments outlined in the reconciliation table at the end of this release, the company recognized adjusted earnings per diluted share 1 of $0.28.ġ Non-GAAP Financial Measure. Results for the quarter include $80 million in charges on two legacy projects and a $60 million impact from the sale of AMECO South America. Consolidated segment loss 1 for the quarter was $15 million compared to $115 million profit in the first quarter of 2022. Revenue for the quarter was $3.8 billion and net loss attributable to Fluor was $107 million, or $0.82 per diluted share. Company affirms its 20 adjusted EPS and adjusted EBITDA guidanceįluor Corporation (NYSE: FLR) announced financial results for its first quarter ended March 31, 2023. Q1 2023 net loss attributable to Fluor of $107 million reflects project forecast revisions and sale of AMECO South America.New awards of $3.2 billion, 81% reimbursable.Q1 2023 revenue of $3.8 billion, an increase of 20% compared to prior year.
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