Fluor Shares Jump 17% After Q2 Revenue Hits $4.3 Billion and New Awards Triple

1 articles · Updated · Yahoo Finance · Aug 7

Fluor stock surged nearly 17% Friday after the engineering and construction group posted stronger-than-expected second-quarter results before the market open.
Revenue rose 9% year over year to $4.3 billion, while new awards more than tripled to $6.1 billion from $1.8 billion, signaling a much stronger project pipeline.
Adjusted net income climbed 79% to $129 million, or $0.91 a share, beating analyst estimates for roughly $3.9 billion in revenue and $0.70 per share in profit.
Fluor kept the low end of its adjusted EBITDA outlook at $500 million but cut the top end to $525 million from $560 million, citing the divestment of its stake in the ICA Fluor joint venture in Mexico.
CEO Jim Breuer said the award growth reflected client confidence and successful pull-through from front-end work, reinforcing investor optimism despite the narrower full-year EBITDA range.