Fluor Reports Q4 2025 Earnings Miss with Strategic Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy FLR?
Source: seekingalpha
- Earnings Miss: Fluor reported a Q4 2025 non-GAAP EPS of $0.33, missing expectations by $0.01, with revenue of $4.2 billion reflecting a 2% year-over-year decline, indicating competitive pressures in the market.
- Share Repurchase Plans: The company plans to repurchase $1.4 billion in shares for 2026, having already repurchased $754 million in 2025, aiming to enhance shareholder value through capital management despite current financial challenges.
- New Awards and Revenue: Fluor secured $12 billion in new awards for 2025, with 87% being reimbursable, demonstrating stability in project acquisition, though attention is needed on the execution pace of existing backlog.
- Energy Solutions Loss: The Energy Solutions segment reported a loss of $414 million in 2025 compared to a profit of $256 million in 2024, reflecting challenges faced by the division and changing market conditions that could impact overall profitability.
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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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- 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.
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- 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
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- 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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- 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
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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
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
