Fluor Corporation has reported second quarter earnings of $115m, compared to a net loss of $24m a year ago. Consolidated segment profit for the quarter was $194m, compared to $15m a year ago. Second quarter revenue was $4.9bn compared to $4.7bn in the prior year.
“This quarter we saw an increase in backlog for the first time since 2016, and we expect continued improvement in backlog as we move through the remainder of 2018,” said David Seaton, Fluor Chairman and Chief Executive Officer. “For the second half of the year we will be focused on closing out legacy projects and deploying our cost-efficient integrated solutions model on future opportunities.”
Fluor’s Energy & Chemicals segment reported a profit of $97m, compared to $124m in the second quarter of 2017. Results for the quarter include a pre-tax charge of $67m for forecast revisions on a downstream project. Revenue for the segment was $2bn compared to $2.2bn a year ago. New awards for the segment totalled $493m and ending backlog was $12.4bn compared to $18bn a year ago.
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8th August 2018