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Fluor
(NYSE:FLR)
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Rating:58Neutral
Price Target:
$48.00
▼(-6.36% Downside)
Action:Reiterated
Date:08/10/26
The score is held back primarily by weak financial performance—large recent losses and negative operating/free cash flow—despite manageable leverage. Offsetting that, technicals are strong with the stock trading above key moving averages and positive momentum signals, while the latest earnings call conveyed improving operating trends, strong backlog/awards, and upgraded guidance. Valuation remains challenged given negative earnings, and the corporate event is a small positive on governance.
Positive Factors
Backlog and award momentum
Large awards and expanding backlog provide meaningful future work for Fluor’s engineering, procurement, construction, and project-management teams. A book-to-bill above one indicates continued order replenishment, supporting revenue visibility and utilization over multiple years.
Negative Factors
Severe profitability deterioration
The shift from strong 2024 profitability to substantial TTM losses indicates that revenue is not currently translating into dependable earnings. Persistent losses could weaken the equity base, constrain reinvestment, and reduce resilience when executing complex fixed-price or performance-sensitive work.
Read all positive and negative factors
Positive Factors
Negative Factors
Backlog and award momentum
Large awards and expanding backlog provide meaningful future work for Fluor’s engineering, procurement, construction, and project-management teams. A book-to-bill above one indicates continued order replenishment, supporting revenue visibility and utilization over multiple years.
Read all positive factors
Fluor Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across regions to reveal exposure to local economic cycles, commodity prices, and geopolitical risk, and to highlight markets where Fluor has growth opportunities or vulnerability.
Breaks down revenue across regions to reveal exposure to local economic cycles, commodity prices, and geopolitical risk, and to highlight markets where Fluor has growth opportunities or vulnerability.
Data provided by:
The Fly
The FlyFluor (FLR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.04B
Dividend Yield6.65%
Average Volume (3M)2.20M
Price to Earnings (P/E)―
Beta (1Y)1.24
Revenue Growth-4.77%
EPS Growth-151.32%
CountryUS
Employees22,995
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-12.05
Shares Outstanding133,741,070
10 Day Avg. Volume2,011,205
30 Day Avg. Volume2,203,240
Financial Highlights & Ratios
PEG Ratio1.25
Price to Book (P/B)2.07
Price to Sales (P/S)0.43
P/FCF Ratio-15.35
Enterprise Value/Market Cap0.91
Enterprise Value/Revenue0.35
Enterprise Value/Gross Profit-44.48
Enterprise Value/Ebitda-153.19
Forecast
1Y Price Target
$62.25Price Target Upside21.44% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)2.7
Revenue Forecast (FY)$16.57B
Fluor Business Overview & Revenue Model
Company Description
Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; and project management services worldwide. The company operates through three segments: Urban Solutions, Energy Solutions, and Mission Sol...
How the Company Makes Money
Fluor makes money primarily by contracting to plan, design, build, and manage large-scale projects and programs for customers, earning revenue as it performs work under those contracts. Its core revenue streams are (1) professional services (engin...
Fluor Earnings Call Summary
Earnings Call Date:Aug 07, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 06, 2026
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.Positive Updates
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.
Negative Updates
Operating Cash Flow Impacted by Large Tax Payments
Reported operating cash flow of negative $317 million in Q2, driven primarily by a $357 million tax payment associated with the conversion of NuScale shares; management noted normalized OCF excluding that tax would have been approximately +$40 million.
Read all updates
Q2-2026 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
In the call management reiterated strong Q2 operating results (Q2 revenue $4.3B, adjusted EBITDA $149M, adjusted EPS $0.91) and set full‑year targets of adjusted EBITDA $500–$525M (from a comparable $519M starting point after excluding ~ $23M of foregone JV profit), implying adjusted EPS of $2.70–$2.80 at the current repurchase tempo; adjusted operating cash flow of $300–$320M (ex the Q2 NuScale tax and the Q3 JV‑sale tax); G&A of $170–$180M (excluding up to $15M for ERP/tech); an assumed tax rate of 28–30%; a revenue mix of ~65% Urban / 20% Energy / 15% Mission with as‑reported segment margin expectations of 2.5–3% Urban, 6–7% Energy and ~6% Mission; and continued capital return plans (modeled $1.4B repurchases for 2026, $300M/6M shares repurchased in Q2), a Q2 cash balance of $3.0B (up to $3.2B on July 31), while noting the $90M pretax gain on the Mexican JV sale is outside guidance — management also expects a book‑to‑bill well above 1 supported by $6.1B of Q2 awards and $26.9B of backlog.Fluor Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
58
Neutral
Cash Flow
33
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.54B | 15.50B | 16.32B | 15.47B | 13.74B | 14.16B |
| Gross Profit | -124.00M | -120.00M | 574.00M | 477.00M | 355.00M | 454.00M |
| EBITDA | -36.00M | -245.00M | 732.00M | 449.00M | 376.00M | -182.00M |
| Net Income | -2.00B | -51.00M | 2.15B | 139.00M | 145.00M | -440.00M |
Balance Sheet | ||||||
| Total Assets | 7.54B | 8.24B | 9.14B | 6.97B | 6.83B | 7.09B |
| Cash, Cash Equivalents and Short-Term Investments | 3.04B | 3.77B | 2.96B | 2.59B | 2.62B | 2.34B |
| Total Debt | 1.07B | 1.07B | 1.10B | 1.16B | 1.13B | 1.19B |
| Total Liabilities | 4.75B | 4.96B | 5.15B | 4.92B | 4.83B | 5.52B |
| Stockholders Equity | 2.69B | 3.24B | 3.95B | 1.94B | 1.79B | 1.39B |
Cash Flow | ||||||
| Free Cash Flow | -330.00M | -437.00M | 664.00M | 106.00M | -44.00M | -50.00M |
| Operating Cash Flow | -287.00M | -387.00M | 828.00M | 212.00M | 31.00M | 25.00M |
| Investing Cash Flow | 2.36B | 502.00M | -333.00M | -277.00M | -78.00M | -122.00M |
| Financing Cash Flow | -1.30B | -862.00M | -116.00M | 127.00M | 315.00M | 122.00M |
Fluor Technical Analysis
Negative
51.26
Price Trends
51.84
Negative
51.39
Negative
49.30
Negative
Market Momentum
-1.88
Positive
28.70
Positive
10.84
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLR, the sentiment is Negative. The current price of 51.26 is above the 20-day moving average (MA) of 48.76, below the 50-day MA of 51.84, and above the 200-day MA of 49.30, indicating a bearish trend. The MACD of -1.88 indicates Positive momentum. The RSI at 28.70 is Positive, neither overbought nor oversold. The STOCH value of 10.84 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FLR.
Fluor Risk Analysis
Fluor disclosed 40 risk factors in its most recent earnings report. Fluor reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Fluor Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $4.70B | 11.24 | 27.41% | 1.77% | -4.37% | 13.37% | |
65 Neutral | $15.04B | 28.50 | 15.30% | ― | 23.46% | 86.29% | |
64 Neutral | $16.68B | 49.65 | 9.81% | 0.98% | 20.03% | -28.63% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $3.88B | 28.17 | 8.46% | 0.44% | 5.12% | -42.27% | |
58 Neutral | $6.04B | -3.85 | -57.08% | 6.65% | -4.77% | -151.32% | |
51 Neutral | $7.59B | 26.92 | 12.54% | 2.08% | -4.24% | -44.22% |
* Industrials Sector Average
FLR
Fluor
43.42
-4.25
-8.92%
ACM
Aecom Technology
60.83
-69.50
-53.33%
J
Jacobs Solutions
146.26
-12.81
-8.06%
KBR
KBR
39.53
-4.07
-9.34%
MTZ
MasTec
171.55
-33.37
-16.28%
PRIM
Primoris Services
66.94
-68.75
-50.67%
Fluor Corporate Events
Business Operations and StrategyExecutive/Board Changes
Fluor Adds Independent Director to Expand Board Oversight
Positive
Aug 4, 2026
On July 30, 2026, Fluor Corporation’s Board of Directors voted to expand the board from ten to eleven members, with the change becoming effective on August 4, 2026. The move reflects an effort to strengthen oversight and governance as the co...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.