Fluor Corporation reported a total revenue of $15.5 billion for the fiscal year ended December 31, 2025, a decrease from $16.3 billion in 2024. The decline was primarily attributed to a significant revenue reversal of $643 million related to a judgment on the Santos project in Australia, alongside reduced execution activity in the Energy Solutions segment. The company experienced a net loss of $62 million, compared to a net income of $2.1 billion in the previous year. This loss was influenced by various factors, including cost growth on infrastructure projects and the aforementioned revenue reversal.
In terms of operational performance, Fluor's Urban Solutions segment saw revenue growth to $9.2 billion, up from $7.2 billion in 2024, driven by increased project execution in life sciences and mining. Conversely, the Energy Solutions segment's revenue fell to $3.6 billion from $6 billion, reflecting the impact of the Santos project judgment and a slowdown in project execution. The Mission Solutions segment reported a slight increase in revenue to $2.7 billion, supported by higher project volumes for the U.S. Department of Energy and FEMA.
Fluor's total backlog as of December 31, 2025, was $25.5 billion, down from $28.5 billion in 2024. The backlog included 81% reimbursable contracts, indicating a strategic focus on securing contracts with more favorable terms. The company reported new awards totaling $12 billion, a decrease from $15.1 billion in the previous year, with a notable portion of these awards coming from international projects.
Strategically, Fluor continued to divest non-core assets, completing the sale of its Stork business and reaching an agreement to sell its fabrication yard in China for approximately $122 million. Additionally, the company successfully monetized portions of its investment in NuScale, generating $605 million from the sale of 15 million shares in 2025 and $1.35 billion from the sale of 71 million shares in February 2026. Looking ahead, Fluor anticipates further monetization of its remaining NuScale shares and aims to enhance its operational efficiency while navigating market challenges.
The company has expressed a cautious outlook, emphasizing the need for disciplined execution and cost management in light of ongoing market pressures. Fluor remains focused on leveraging its diverse project pipeline and maintaining strong client relationships to drive future growth.
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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