EarningsQ2 2026 Earnings Report
DE:FLU Q2 2026 EPS Results
Actual EPS€0.81
Consensus EPS€0.62
Beat/MissBeat by +€0.19
One Year Ago EPS€0.38
DE:FLU Q2 2026 Revenue Results
Actual Revenue€3.84B
Expected Revenue€3.49B
Beat/MissBeat by +€359.62M
YoY Revenue Growth+8.82%
Earnings Announcement Details
QuarterQ2 2026
Date08/07/2026
TimeBefore Open
Conference CallFriday, August 7, 2026
DE:FLU Upcoming Earnings
Fluor's next earnings date is estimated for November 6, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:FLU Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed material positive momentum: strong Q2 new awards (~$6.1B), backlog expansion (~$26.9B), revenue up 9%, notable EBITDA and EPS improvement, improved segment profitability (especially Energy), strengthened liquidity, continued aggressive share repurchases and an upgraded full-year guidance range. Offsetting items include a negative operating cash flow headline driven by known tax payments, remaining legacy project closeout losses (notably $44M Gordie Howe impact), a ~ $650M backlog removal tied to the JV sale and some near-term funding/closeout risks. Management emphasized a diversified and growing pipeline with most incremental earnings uplift expected to materialize over 2027–2028 rather than immediately.Company Guidance
Strong New Awards and Backlog Growth
New awards of ~$6.1 billion in Q2 drove ending backlog to $26.9 billion (after a preemptive removal of ~ $650 million related to the Mexican JV). Management expects a book-to-bill above 1 for the full year and described the pipeline as diversified across nuclear, fertilizers, copper, LNG, data centers and infrastructure.
Revenue and Profitability Improvement
Q2 revenue was $4.3 billion, up 9% year-over-year. Adjusted EBITDA increased to $149 million from $96 million a year ago (~+55%). Adjusted EPS rose to $0.91 from $0.43 (~+112%).
Segment Performance — Energy and Mission Strength
Energy Solutions segment profit was $88 million versus $15 million a year ago (+~487%), driven by favorable closeout contributions on projects. Mission Solutions segment profit rose to $44 million from $35 million (+~26%), driven by improved DOE fee performance.
Urban Solutions Momentum and Pipeline
Urban Solutions contributed a majority of revenue and reported $3.2 billion of new awards in Q2. Management highlighted a near-term in-house M&M (mining & metals) pipeline of nearly $30 billion of potential awards and multiple infrastructure handovers completed (LBJ, Oak Hill Parkway, Red Purple Line, Gordie Howe Bridge).
Liquidity, Cash Position and Capital Returns
Ended Q2 with $3.0 billion in cash (rebounded to $3.2 billion by July 31). Continued share repurchases of $300 million in Q2 (6 million shares) and modeling $1.4 billion of repurchases for 2026. Management emphasized robust liquidity to support buybacks and inorganic opportunities.
Strategic Portfolio Actions and One-Time Gain
Sold equity in the Mexican JV for $175 million in July, triggering a pretax book gain of $90 million (tax payment ~$33 million). Management removed related backlog proactively to improve transparency and sharpen strategic focus.
Upgraded Full-Year Guidance
Revised adjusted EBITDA guidance to $500 million–$525 million and adjusted EPS guidance to $2.70–$2.80. Full-year adjusted operating cash flow guidance set at $300 million–$320 million (excluding certain tax payments). Segment margin assumptions: Urban 2.5%–3%, Energy 6%–7%, Mission ~6%.
Nuclear and Strategic Growth Wins
Booked the Centrus fuel enrichment award and highlighted broader capabilities across the nuclear value chain (SMRs, fuels, decommissioning), positioning Fluor to capture accelerating global nuclear investment.
DE:FLU Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed