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Fluor(FLR) - 2024 Q4 - Annual Results
FLRFluor(FLR)2025-02-18 12:03

Financial Performance - Revenue for 2024 was 16.3billion,withnetincomeattributabletoFluorof16.3 billion, with net income attributable to Fluor of 2.1 billion, or 12.30perdilutedshare[2]−Consolidatedsegmentprofitfortheyearwas12.30 per diluted share[2] - Consolidated segment profit for the year was 635 million, up from 537millionin2023[2]−AdjustedEBITDAfor2024was537 million in 2023[2] - Adjusted EBITDA for 2024 was 530 million, with adjusted diluted earnings per share of 2.32[2]−NetearningsattributabletoFluorfortheyearendedDecember31,2024,were2.32[2] - Net earnings attributable to Fluor for the year ended December 31, 2024, were 2,145 million, compared to 139millionin2023,markingasignificantincrease[26]−AdjustedEBITDAfortheyearendedDecember31,2024,was139 million in 2023, marking a significant increase[26] - Adjusted EBITDA for the year ended December 31, 2024, was 530 million, down from 613millionin2023[28]−ThedilutedEPSavailabletoFluorcommonstockholdersfortheyearendedDecember31,2024,was613 million in 2023[28] - The diluted EPS available to Fluor common stockholders for the year ended December 31, 2024, was 12.30, compared to 0.54in2023[26]RevenueandAwards−Fullyearnewawardstotaled0.54 in 2023[26] Revenue and Awards - Full year new awards totaled 15.1 billion, with an ending backlog of 28.5billion,ofwhich7928.5 billion, of which 79% is reimbursable[3] - Total new awards for the year 2024 amounted to 15,123 million, a decrease from 19,528millionin2023[23]−Thebacklogattheendof2024was19,528 million in 2023[23] - The backlog at the end of 2024 was 28,484 million, slightly down from 29,441millionattheendof2023[23]SegmentPerformance−UrbanSolutionssegmentrevenueincreasedto29,441 million at the end of 2023[23] Segment Performance - Urban Solutions segment revenue increased to 7.2 billion, with new awards of 9.5billionin2024[10]−EnergySolutionssegmentrevenuedecreasedto9.5 billion in 2024[10] - Energy Solutions segment revenue decreased to 6.0 billion, with new awards totaling 3.2billion[11]−UrbanSolutionssegmentrevenueincreasedto3.2 billion[11] - Urban Solutions segment revenue increased to 1,999 million in Q4 2024 from 1,420millioninQ42023,representinga40.61,420 million in Q4 2023, representing a 40.6% growth[23] Cash Flow and Financial Position - Strong operating cash flow for 2024 was 828 million, the highest since 2015[2] - Cash and marketable securities at the end of 2024 were 3.0billion,a143.0 billion, a 14% increase from 2023[3] - Operating cash flow for the year 2024 was 828 million, significantly higher than 212millionin2023[24]QuarterlyPerformance−Fourthquarterrevenuewas212 million in 2023[24] Quarterly Performance - Fourth quarter revenue was 4.3 billion, compared to 3.8billioninthesamequarterof2023[6]−TotalrevenueforQ42024reached3.8 billion in the same quarter of 2023[6] - Total revenue for Q4 2024 reached 4,260 million, a 11.5% increase from 3,820millioninQ42023[23]−ThetotalsegmentprofitmarginforQ42024was4.83,820 million in Q4 2023[23] - The total segment profit margin for Q4 2024 was 4.8%, up from 2.2% in Q4 2023[23] Guidance - Adjusted EBITDA guidance for 2025 is set at 575 to 675million,withadjustedEPSguidanceof675 million, with adjusted EPS guidance of 2.25 to 2.75pershare[9]ForeignCurrencyImpact−Thecompanyreportedaforeigncurrencygainof2.75 per share[9] Foreign Currency Impact - The company reported a foreign currency gain of 34 million in Q4 2024, compared to a loss of $36 million in Q4 2023[24]