Fluor(US:FLR)2023-11-03 12:31Financial Performance - Q3 2023 revenue reached $4 billion, representing a 10% improvement compared to Q3 2022[9] - Q3 2023 new awards totaled $5 billion, with 94% of these awards being reimbursable[9] - Consolidated segment profit for Q3 2023 was $276 million, with an adjusted EBITDA of $216 million[38] - Adjusted EPS for Q3 2023 was $1.02, compared to $0.07 in Q3 2022[46] Strategic Outlook and Capital Structure - The company raised its FY 2023 adjusted EPS guidance to a range of $2.50 to $2.70[42] - Adjusted EBITDA guidance for FY 2023 is approximately $600 million[42] - The company successfully rebuilt its capital structure, transitioning to a lower-risk portfolio and utilizing proceeds from convertible debt to retire 3.5% Senior Notes due 2024[20] - The prospect pipeline is currently valued at more than 15x the current backlog[9] Operational Highlights - The company is leveraging AI technologies across the organization, currently utilizing over 60 AI-derived platforms to supplement project execution[24] - Backlog remains strong at $26 billion, with 70% of the total backlog being reimbursable[9]