Fluor Corporation reported its financial results for the first quarter of 2026, revealing a total revenue of $3.663 billion, a decrease of 8% from $3.982 billion in the same period of 2025. The company's gross profit for the quarter was $13 million, compared to a gross profit of $140 million in the previous year. Fluor's net earnings attributable to the company were $160 million, a significant recovery from a net loss of $241 million in the prior year. The earnings per share (EPS) for the quarter stood at $1.10, compared to a loss per share of $1.42 in the first quarter of 2025.
The decline in revenue was primarily attributed to reduced execution activity on several projects nearing completion, particularly in the Energy Solutions and Mission Solutions segments. Revenue from the Energy Solutions segment fell to $703 million from $1.206 billion, while Mission Solutions revenue decreased to $523 million from $597 million. In contrast, the Urban Solutions segment saw an increase in revenue to $2.437 billion from $2.157 billion, driven by a ramp-up in execution activities on life sciences and mining projects. The overall operating profit for the quarter was $92 million, slightly up from $91 million in the previous year.
Fluor's strategic developments included the completion of the sale of its ownership interest in CFHI for $124 million, which contributed to the company's financial recovery. Additionally, the company successfully divested its remaining shares in NuScale Power, generating total proceeds of $1.35 billion in February 2026 and an additional $473 million in April 2026. This divestiture has significantly bolstered Fluor's liquidity, with cash and cash equivalents increasing to $3.187 billion as of March 31, 2026, compared to $2.135 billion at the end of 2025.
Operationally, Fluor's backlog as of March 31, 2026, was $25.731 billion, a slight increase from $25.536 billion at the end of 2025. The company reported new awards totaling $2.689 billion for the quarter, down from $5.811 billion in the same period last year. Notably, 55% of new awards were related to projects located outside the U.S. The company also reported a significant increase in general and administrative expenses, which rose to $61 million from $36 million, primarily due to higher stock price-driven compensation.
Looking ahead, Fluor expressed optimism about its future prospects, citing strong client engagement and a robust pipeline of opportunities, particularly in energy, commodities, and advanced technologies. The company is well-positioned to capitalize on rebuilding efforts in regions affected by geopolitical tensions and is targeting approximately $1.4 billion in share repurchases for 2026. Fluor's management remains focused on executing its strategic initiatives while navigating the challenges posed by market conditions and project execution.
About FLUOR CORP
Fluor Corporation is a global professional services firm providing engineering, procurement, construction, fabrication, and project management across diverse industries including energy, infrastructure, life sciences, mining, and government. Its core value lies in delivering safe, efficient, and high-quality capital projects with a focus on innovation, market diversification, and sustainable solutions, serving clients worldwide through a broad business model emphasizing excellence in execution and risk management.
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