Fluor(US:FLR) ZACKS·2025-05-02 16:30Core Insights - Fluor Corporation reported mixed first-quarter 2025 results, with adjusted earnings exceeding the Zacks Consensus Estimate while revenues fell short [1][3] - The company's performance reflects the impact of its four-year strategy aimed at expanding a reimbursable backlog and improving project execution [2] Financial Performance - Adjusted earnings per share (EPS) were 73 cents, surpassing the Zacks Consensus Estimate of 50 cents by 46%, and up from 47 cents in the same quarter last year [3] - Quarterly revenues totaled $3.98 billion, missing the consensus mark of $4.25 billion by 6.3%, but grew 7% from $3.82 billion year-over-year [3] - Segment profit was $131 million, an 11% increase year-over-year, with a segment margin of 3.3%, up 10 basis points from the previous year [3] Segment Performance - The Energy Solutions segment saw revenues decline by 15.7% year-over-year to $1.21 billion, attributed to reduced execution activity on nearing completion projects [5] - The Urban Solutions segment reported revenues of $2.16 billion, a significant increase of 45.8% year-over-year, driven by heightened execution activities on life sciences projects [7] - The Mission Solutions segment's revenues totaled $597 million, down 0.7% from the previous year, with a margin decrease of 290 basis points to 0.8% [8] New Awards and Backlog - Total new awards for the quarter were $5.81 billion, down from $7.02 billion year-over-year, with a consolidated backlog of $28.72 billion, down from $32.74 billion [4] - The Urban Solutions segment achieved new awards of $5.33 billion, up from $4.87 billion a year ago, with a backlog of $20.15 billion, an increase of 8.3% [8] Cash and Guidance - As of March 31, 2025, Fluor had cash and cash equivalents of $2.43 billion, down from $2.83 billion at the end of 2024 [11] - The company maintains its 2025 guidance for adjusted EPS in the range of $2.25-$2.75 and adjusted EBITDA between $575 million and $675 million [12]