FLUOR CORP SEC 10-Q Report

Fluor Corp, a global engineering and construction firm, has released its Form 10-Q report for the second quarter of 2025. The report provides a detailed overview of the company's financial performance and operational highlights, reflecting the challenges and opportunities faced during the period.

Financial Highlights

Revenue: $3,978 million. Revenue decreased slightly during the 2025 Quarter, primarily driven by a decline in execution activity for several projects nearing completion and for certain projects at the company's joint venture in Mexico where progress has slowed pending customer payment.

Gross Profit: $56 million. Gross profit was impacted by cost growth on infrastructure projects related to subcontracted design errors, price escalation, and schedule impacts.

Operating Profit (Loss): $(26) million. The operating loss was driven by cost growth on infrastructure projects and a decline in execution activity for certain projects.

Net Earnings: $2,438 million. Net earnings were significantly impacted by equity method earnings, which contributed $3,212 million before taxes.

Diluted EPS: $14.81. The increase in Diluted EPS was primarily due to substantial equity method earnings.

Business Highlights

Revenue Segments

• Urban Solutions: Saw an increase in revenue during the 2025 Quarter and 2025 Period due to the ramp-up of execution activities on life sciences projects and a mining project.
• Energy Solutions: Experienced a revenue decline due to projects nearing completion and slowed progress in Mexico.
• Mission Solutions: Revenue increased due to higher project execution volumes in DOE projects and FEMA hurricane relief efforts.

Geographical Performance

• North America: Revenue remained strong, with $2,757 million in the 2025 Quarter.
• Europe: Showed significant growth with $723 million in the 2025 Quarter, up from $558 million in the previous year.
• Asia Pacific and Central and South America: Saw declines in revenue compared to the previous year.

Future Outlook

The company anticipates continued challenges due to economic and geopolitical factors, with some clients delaying capital investments. However, there is optimism in sectors focused on 'time to market' deliverables. The company plans to convert 15 million NuScale voting shares into registered shares in August 2025, which may impact future earnings.

SEC Filing: FLUOR CORP [ FLR ] - 10-Q - Jul. 31, 2025