Financial Data and Key Metrics Changes - Revenue for the first quarter was $3.7 billion, with consolidated new awards strong at $7 billion, leading to a total backlog of $32.7 billion, of which 80% is reimbursable [45][72] - Adjusted EBITDA for the first quarter was $88 million compared to $71 million a year ago, and adjusted EPS was $0.47 compared to $0.28 in Q1 of 2023 [70][71] - Operating cash flow for the quarter was an outflow of $111 million, an improvement from an outflow of $161 million a year ago [73] Business Line Data and Key Metrics Changes - Urban Solutions reported a profit of $50 million in the first quarter, with new awards of $4.9 billion compared to $1.8 billion a year ago, and backlog now stands at $18.6 billion, 78% of which is reimbursable [48] - Mining and Metals saw strong performance with approximately $740 million recognized for a project in Chile, and nearly $4 billion in prospects anticipated across various projects [51] - Advanced Technologies and Life Sciences secured a $3.2 billion EPCM award for a manufacturing facility, reflecting strong demand in this segment [52] Market Data and Key Metrics Changes - The company is experiencing strong demand across various markets, including life sciences, semiconductors, and data centers, with a pipeline of opportunities representing a total install cost 14 times the size of the current backlog [47] - Clients' capital expenditure plans remain robust, with top customers expected to spend between $155 billion and $165 billion in 2024, slightly up from 2023 [7][8] - The geopolitical environment has not significantly impacted clients' CapEx plans, with major clients continuing to operate globally despite challenges [6] Company Strategy and Development Direction - The company is focusing on its technology hub in Europe to support growth in advanced technology and life sciences markets, aiming to enhance collaboration with clients and local partners [42][44] - The strategy includes a strong emphasis on execution excellence and investing in people and systems to meet future demand [47] - The company is positioning itself to capitalize on the growing demand for data centers and energy transition projects, with expectations of increased investment in these areas [54][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate substantial value for shareholders, citing strong performance and a solid backlog [19] - The outlook for the remainder of the year includes expectations for a book-to-bill ratio in excess of 1 and a linear ramp-up in bookings across all segments [32][33] - Management acknowledged challenges in labor markets, particularly in Mexico, but remains optimistic about resolving these issues and maintaining project timelines [90][91] Other Important Information - The company completed the sale of Stork European operations and is in the process of selling storage U.K. operations, marking a significant milestone in divesting non-core businesses [74] - The company is actively pursuing energy transition projects across various markets, including battery manufacturing and renewable fuels [65] Q&A Session Summary Question: What were the drivers behind the increased operating cash flow guidance? - Management indicated that improved clarity on margin trajectories and early onboarding of activities in Urban Solutions contributed to the increased cash flow guidance [81][82] Question: What is the risk of further charges on the project in Mexico? - Management acknowledged challenges in the labor market due to the project's unique location but expressed confidence in negotiating a commercial resolution with clients [88][90] Question: What is the outlook for achieving consistent quarters and higher margins? - Management highlighted progress in the reimbursable portfolio and expressed confidence that a better balance of risk will lead to reduced volatility in future earnings [92][93]

Fluor Corporation Brett Turner Exhibit 99.1 6700 Las Colinas Blvd Media Relations Irving, Texas 75039 864.281.6976 tel 469.398.7000 main tel Jason Landkamer Investor Relations 469.398.7222 tel News Release FLUOR REPORTS FIRST QUARTER 2024 RESULTS IRVING, Texas (May 3, 2024) - Fluor Corporation (NYSE: FLR) announced financial results for its first quarter ended March 31, 2024. Revenue for the quarter was $3.7 billion and net income attributable to Fluor was $59 million, or $0.34 per diluted share. Consolidat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-16129 FLUOR CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Emp ...

Investors are always looking for stocks that are poised to beat at earnings season and Fluor Corporation (FLR) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Fluor is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indica ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Fluor (FLR) , which belongs to the Zacks Engineering - R and D Services industry.This engineering, construction and operations company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 53.44%.For the most recent quarter, Fluor was ex ...

Fluor Corporation (FLR) clinched a significant win, securing a spot on the Global Contingency Services Multiple Award Contract III by the U.S. Naval Facilities Engineering Systems Command (NAVFAC) Pacific. This accolade positions Fluor among six elite firms eligible to compete for task orders with a combined value of up to $2 billion over a period of 102 months.The contract underscores Fluor’s capability to swiftly deliver critical facility support services in response to a spectrum of exigencies, including ...

Fluor Corporation (FLR) recently won the task order for Pavement and Transportation Support from the U.S. Air Force Installation Contracting Agency. The contract will be based in North Field, Tinian, which is part of the Commonwealth of the Northern Mariana Islands.This task order contract has a period of performance of 60 months and is valued at about $409 million. The cost-plus and fixed-fee task order was awarded to FLR under the Air Force Contract Augmentation Program V (“AFCAP V”).Fluor is positive abo ...

The Russell 2000 index offers investors various small-cap companies that can incite great long-term returns and add a more differentiated investment to their portfolio. Not all stocks in the Russell 2000 are automatic wins, but there are certainly some worth keeping your eye on.These three stocks, in particular, have exciting events that have sparked their popularity and made investors start to consider their potential. While they are riskier than some large-cap stocks, they are in a position to stir up a s ...

It has been about a month since the last earnings report for Fluor (FLR) . Shares have added about 10.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Fluor due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Fluor Q4 Earnings Beat, New Awards & Backlog Up Y/YFluor ...

Fluor Corporation (FLR) is benefiting from robust demand for its engineering and construction solutions, which is reflected in its new award wins and backlog growth. Also, its diversified business is encouraging.The company’s earnings estimate for 2024 has moved north in the past seven days to $2.84 per share from $2.82, showcasing growth rate of 4% year over year. Furthermore, the earnings growth rate of the first quarter of 2024 is 92.9% year over year. The growth prospect is further solidified with a VGM ...