Fluor(US:FLR)2025-05-02 11:03Financial Performance - Q1 2025 revenue of $4.0 billion, up 7% year-over-year[6] - GAAP net loss attributable to Fluor of $241 million, impacted by $477 million in mark-to-market losses on NuScale investment[6] - Adjusted EBITDA of $155 million, up 76% year-over-year[6] - Adjusted net earnings for the three months ended March 31, 2025, were $125 million, with an adjusted EPS of $0.73, compared to $81 million and $0.47 in 2024[24] - The company reported a net loss attributable to Fluor of $(241) million for the three months ended March 31, 2025, compared to a net income of $59 million in 2024[24] - Net earnings excluding amounts attributable to equity method loss for the three months ended March 31, 2025, were $88 million, with an effective tax rate of 19%[22] - The effective tax rate attributable to equity method loss was also 19%[22] Awards and Backlog - New awards totaled $5.8 billion, down 17% year-over-year, with 87% being reimbursable[11] - Backlog decreased to $28.7 billion, down 12.3% year-over-year, with 79% being reimbursable[11] - Q1 revenue book to burn ratio of 1.5x, indicating strong project pipeline[5] Cash Flow and Capital Expenditures - Operating cash flow for the three months ended March 31, 2025, was $(286) million, compared to $(111) million in the same period of 2024[23] - Capital expenditures for the three months ended March 31, 2025, were $(11) million, down from $(34) million in 2024[23] - Cash and cash equivalents at the end of the period were $2,433 million, an increase from $2,335 million in the same period of 2024[23] Shareholder Returns - Accelerated share repurchases of $142 million in Q1, targeting $600 million for 2025[5] - The company repurchased $142 million of common stock during the three months ended March 31, 2025[23] Segment Performance - Urban Solutions segment reported a profit of $70 million, with revenue increasing to $2.2 billion[12] - Energy Solutions segment reported a profit of $47 million, with revenue decreasing to $1.2 billion[13]