Fluor Corporation Q4 2025 Earnings Call Insights
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Should l Buy FLR?
Source: seekingalpha
- Strategic Transition Progress: CEO James Breuer highlighted that Fluor deployed $754 million in share repurchases in 2025 and an additional $335 million in 2026, reflecting a proactive strategy in capital returns aimed at boosting shareholder confidence and enhancing market performance.
- Financial Performance Overview: Fluor reported consolidated new awards totaling $12 billion for 2025, with a year-end backlog of $25.5 billion, of which 81% is reimbursable, indicating strong market demand and future growth potential for the company.
- Outlook for 2026: CFO John Regan set initial adjusted EBITDA guidance for 2026 in the range of $525 million to $585 million, with expectations for new awards to significantly exceed those of 2025, showcasing the company's optimistic outlook, particularly in LNG and nuclear projects.
- Risks and Challenges: Management noted the $643 million Santos charge's impact on revenue and cash flow volatility risks; however, they remain confident in project delivery and capital returns, emphasizing a continued focus on growth opportunities.
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Analyst Views on FLR
Wall Street analysts forecast FLR stock price to rise
6 Analyst Rating
3 Buy
3 Hold
0 Sell
Moderate Buy
Current: 48.570
Low
40.00
Averages
49.25
High
57.00
Current: 48.570
Low
40.00
Averages
49.25
High
57.00
About FLR
Fluor Corporation is a holding company that provides engineering, procurement, construction (EPC), fabrication and modularization, and project management services. The Company's segments include Energy Solutions, Urban Solutions and Mission Solutions. The Energy Solutions segment provides EPC services for traditional oil and gas markets, including the production and fuels, chemicals, LNG and power markets. The segment serves these industries with comprehensive project life-cycle services. The Urban Solutions segment provides EPC and project management services to the advanced technologies and manufacturing, life sciences, mining and metals, infrastructure industries and professional staffing services. The Mission Solutions segment provides high-end technical solutions to the United States and other governments. These include, among others, the DOE, the Department of Defense, FEMA and intelligence agencies. The segment also provides services to commercial nuclear clients.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Project Resumption: The funding freeze had triggered a work stoppage threatening nearly 1,000 jobs, but contractors are now instructed to prepare for construction resumption next week, ensuring the project stays on track.
- Legal Obligation: Governor Hochul emphasized that the federal government has a legal obligation to fully fund the Gateway project, highlighting the importance of continuous funding support to prevent future disruptions for workers and commuters.
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- Strategic Transition Progress: CEO James Breuer highlighted that Fluor deployed $754 million in share repurchases in 2025 and an additional $335 million in 2026, reflecting a proactive strategy in capital returns aimed at boosting shareholder confidence and enhancing market performance.
- Financial Performance Overview: Fluor reported consolidated new awards totaling $12 billion for 2025, with a year-end backlog of $25.5 billion, of which 81% is reimbursable, indicating strong market demand and future growth potential for the company.
- Outlook for 2026: CFO John Regan set initial adjusted EBITDA guidance for 2026 in the range of $525 million to $585 million, with expectations for new awards to significantly exceed those of 2025, showcasing the company's optimistic outlook, particularly in LNG and nuclear projects.
- Risks and Challenges: Management noted the $643 million Santos charge's impact on revenue and cash flow volatility risks; however, they remain confident in project delivery and capital returns, emphasizing a continued focus on growth opportunities.
See More
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- Funding Release: The Trump administration released $98 million previously withheld for the Gateway Tunnel construction and an additional $30 million in reimbursements, significantly enhancing passenger rail capacity into Manhattan.
- Project Resumption: The funding freeze had triggered a work stoppage threatening nearly 1,000 jobs, but contractors are now instructed to prepare for construction resumption next week, ensuring the project stays on track.
- Legal Obligation: Governor Hochul emphasized that the federal government has a legal obligation to fully fund the Gateway project, highlighting the importance of continuous funding support to prevent future disruptions for workers and commuters.
- Infrastructure Significance: The Gateway project is one of the most critical infrastructure initiatives in the U.S., with the existing North River Tunnel carrying 200,000 passengers daily and in urgent need of repairs to meet growing transportation demands.
See More
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- Stock Fluctuations: NuScale Power went public in 2022 through a SPAC merger, opening at $10.70 and reaching a record high of $53.43 last October, but currently trades around $14, indicating a divided market view on its growth potential.
- Market Valuation: With a market cap of $4 billion and a price-to-earnings ratio of 40, NuScale's valuation reflects that future sales expectations for 2026 are already priced in, despite the company not having sold any reactors, presenting significant investment risks.
- Revenue Sources: Currently, NuScale generates revenue primarily as a subcontractor for Fluor in the planned construction of a 462 MWe nuclear plant for Romania's RoPower, which remains in the front-end engineering and design phase, with a final investment decision expected this year.
- Future Outlook: Although NuScale aims to deploy its first SMRs in Romania by 2030, project delays due to soaring costs mean that the first reactors in the U.S. likely won't be installed until 2032, with most revenue until then coming from FEED study fees.
See More
Starboard Value's Q4 Investment Moves: New Holdings and Exits
- New Holdings: Starboard Value established new positions in Clearwater Analytics (CWAN) with 9.95M shares and Fluor Corporation (FLR) with 5.19M shares in Q4, indicating strong confidence in their growth potential which may positively impact their market performance.
- Increased Stakes: The fund raised its stake in Kenvue (KVUE) from 20.93M shares to 27.31M shares, valued at $471.06M, reflecting an optimistic outlook on the company's future performance and potentially enhancing its competitive position in the market.
- Position Reduction: Starboard Value exited its position in Alight (ALIT), previously holding 45.86M shares, indicating a cautious stance on the company's prospects which could affect its stock price performance.
- Portfolio Adjustments: The fund also trimmed its holdings in Autodesk (ADSK) from 1.31M shares to 1M shares and in Salesforce (CRM) from 1.24M shares to 940.32K shares, suggesting a reassessment of the growth potential of these companies moving forward.
See More
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- Significant Net Loss: Fluor reported a net loss of $1.6 billion in Q4 2025, translating to a diluted loss of $9.87 per share, a stark contrast to the $1.9 billion profit recorded in the same quarter last year, primarily due to a $2 billion reduction in the valuation of its NuScale investment.
- Revenue and Profit Decline: The company's revenue for the quarter was $4.175 billion, falling short of the $4.249 billion analyst estimate and down from $4.260 billion a year earlier, while consolidated segment profit dropped from $206 million to $120 million, indicating a weakening overall profitability.
- Decrease in New Awards: Fluor secured new awards totaling $1.127 billion in the quarter, significantly down from $2.308 billion in the prior-year period, suggesting challenges in market competitiveness that could impact future revenue growth.
- Cautious Future Outlook: The company established adjusted EBITDA guidance for 2026 in the range of $525 million to $585 million, and while planning to repurchase $1.4 billion in shares in 2026, it must remain vigilant regarding risks associated with tariffs, trade policies, and GAAP earnings volatility linked to NuScale fair value measurements.
See More
Fluor Corporation Q4 2025 Earnings Call Insights
- Strategic Transition Progress: CEO James Breuer highlighted that Fluor deployed $754 million in share repurchases in 2025 and an additional $335 million in 2026, reflecting a proactive strategy in capital returns aimed at boosting shareholder confidence and enhancing market performance.
- Financial Performance Overview: Fluor reported consolidated new awards totaling $12 billion for 2025, with a year-end backlog of $25.5 billion, of which 81% is reimbursable, indicating strong market demand and future growth potential for the company.
- Outlook for 2026: CFO John Regan set initial adjusted EBITDA guidance for 2026 in the range of $525 million to $585 million, with expectations for new awards to significantly exceed those of 2025, showcasing the company's optimistic outlook, particularly in LNG and nuclear projects.
- Risks and Challenges: Management noted the $643 million Santos charge's impact on revenue and cash flow volatility risks; however, they remain confident in project delivery and capital returns, emphasizing a continued focus on growth opportunities.
See More
Fluor (FLR.US) Director Plans to Sell $386.37 Million in Common Stock via Form 144
FLUOR Corp Stock Sale: FLUOR Corp intends to sell 27 million shares of its common stock on February 17, with a total market value of approximately $386.37 million.
Reduction in Shareholding: The company has reduced its shareholding in FLRAP (FLRAP.US) and Fluor (FLR.US) by 71 million shares since February 13, 2026, with a total value of around $1.35 billion.
See More
