NYSE$FLR
Fluor Corp · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
Fluor Corp reported Q2 2025 results with $4.0 billion revenue and $2.5 billion net earnings driven by NuScale gains.
Fluor Corporation announced its second quarter 2025 financial results on August 1, 2025. Revenue totaled $4.0 billion, down 6% year-over-year, while GAAP net earnings reached $2.5 billion due to significant mark-to-market gains on the NuScale investment. Adjusted metrics showed declines, with adjusted EBITDA at $96 million and adjusted EPS at $0.43, impacted by project cost growth and lower new awards.
- Revenue of $4.0 billion, down 6% y/y; new awards $1.8 billion, down 43% y/y.
- GAAP EPS $14.81 and net earnings $2.5 billion, boosted by $3.2 billion pre-tax NuScale gains.
- Adjusted EBITDA $96 million (down 42% y/y) and adjusted EPS $0.43 (down 49% y/y), including $54 million project cost impacts.
- Backlog $28.2 billion (80% reimbursable); cash and marketable securities $2.3 billion; revised 2025 guidance downward.
Headline financials
Revenue & EPS history
Fluor · Revenue · Quarterly
$3.98B
Revenue by segment
Fluor · $3.96B total across 3 segments · Q2 2025
- Urban Solutions$2.1B—53.0%
- Energy Solutions$1.1B—27.8%
- Mission Solutions$762M—19.2%
Forward guidance
Company revised 2025 adjusted EBITDA guidance to $475-$525 million and adjusted EPS to $1.95-$2.15 per share due to client hesitation and project delays.
Tailwinds
- LNG Canada project first cargo shipped; phase 2 FEED award received.
- COVID claims agreement reached.
Headwinds
- Client capital spending shifts and economic uncertainty impacting new awards.
- Cost growth on three infrastructure projects.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
-1.8%
Avg return
Earnings day
-2.7%
Avg return
5 days after
+1.7%
Avg return
30 days after
40%
29 / 73 earnings
Positive
+14.1%
Q3 2021
Best reaction
-30.3%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | -0.9% | -11.8% | -6.9% | |
| Q4 2025 | +7.0% | +18.1% | +5.3% | |
| Q3 2025 | +2.7% | +2.6% | -1.4% | |
| Q1 2025 | -0.1% | -2.7% | +16.2% | |
| Q4 2024 | -8.4% | -13.1% | -13.2% | |
| Q3 2024 | -15.5% | -14.6% | -5.3% | |
| Q2 2024 | -2.6% | -1.6% | +5.5% | |
| Q1 2024 | -5.4% | -7.0% | +5.2% | |
| Q4 2023 | -15.0% | -12.0% | -2.8% | |
| Q3 2023 | +2.7% | -1.1% | +12.6% | |
| Q2 2023 | +10.1% | +13.6% | +14.8% | |
| Q1 2023 | -0.6% | -1.8% | +7.7% | |
| Q4 2022 | -2.8% | -2.4% | -19.8% | |
| Q3 2022 | +13.6% | +7.4% | +19.3% | |
| Q2 2022 | -3.4% | +1.2% | +1.1% | |
| Q1 2022 | -3.2% | +0.8% | +9.4% | |
| Q4 2021 | +0.0% | +3.9% | +43.2% | |
| Q3 2021 | +14.1% | +9.8% | +10.6% | |
| Q2 2021 | +3.3% | +9.4% | -0.8% | |
| Q1 2021 | -0.1% | -2.5% | -17.3% | |
| Q4 2020 | -13.3% | -9.2% | +12.2% | |
| Q3 2020 | -8.1% | -5.7% | -4.0% | |
| Q2 2020 | +0.1% | +4.7% | +25.4% | |
| Q1 2020 | +4.5% | -3.4% | +33.2% | |
| Q4 2019 | -2.1% | -5.8% | +30.5% | |
| Q3 2019 | -4.0% | -1.1% | -10.0% | |
| Q2 2019 | -30.3% | -36.2% | -45.6% | |
| Q1 2019 | -25.1% | -24.6% | -29.2% | |
| Q4 2018 | +1.8% | +1.6% | -5.6% | |
| Q3 2018 | +4.8% | +9.8% | -6.7% | |
| Q2 2018 | +8.9% | +10.3% | +12.4% | |
| Q1 2018 | -22.1% | -24.0% | -16.6% | |
| Q4 2017 | -0.3% | +0.9% | -3.0% | |
| Q3 2017 | +6.6% | +9.4% | +10.8% | |
| Q2 2017 | -8.6% | -10.6% | -11.9% | |
| Q1 2017 | -6.5% | -6.1% | -11.6% | |
| Q4 2016 | +0.3% | +5.1% | -1.2% | |
| Q3 2016 | -13.0% | -13.4% | +3.8% | |
| Q2 2016 | -1.8% | -1.7% | -1.4% | |
| Q1 2016 | -4.5% | — | — | |
| Q4 2015 | -2.3% | — | — | |
| Q3 2015 | +1.2% | — | — | |
| Q2 2015 | -7.2% | — | — | |
| Q1 2015 | -3.7% | — | — | |
| Q4 2014 | +3.2% | — | — | |
| Q3 2014 | +1.2% | — | — | |
| Q2 2014 | -2.4% | — | — | |
| Q1 2014 | -0.3% | — | — | |
| Q4 2013 | +0.7% | — | — | |
| Q3 2013 | -1.5% | — | — | |
| Q2 2013 | +6.3% | — | — | |
| Q1 2013 | +6.5% | — | — | |
| Q4 2012 | -4.1% | — | — | |
| Q3 2012 | -6.9% | — | — | |
| Q2 2012 | +4.3% | — | — | |
| Q1 2012 | -1.5% | — | — | |
| Q4 2011 | +3.8% | — | — | |
| Q3 2011 | -1.3% | — | — | |
| Q2 2011 | -5.4% | — | — | |
| Q1 2011 | -3.0% | — | — | |
| Q4 2007 | -2.6% | — | — | |
| Q4 2010 | -2.6% | — | — | |
| Q3 2010 | +10.0% | — | — | |
| Q2 2010 | +1.5% | — | — | |
| Q1 2010 | +1.1% | — | — | |
| Q4 2009 | -5.5% | — | — | |
| Q3 2008 | -2.2% | — | — | |
| Q3 2009 | -2.2% | — | — | |
| Q2 2009 | -7.3% | — | — | |
| Q2 2008 | +1.1% | — | — | |
| Q1 2009 | +1.1% | — | — | |
| Q4 2008 | +1.1% | — | — | |
| Q1 2008 | +1.1% | — | — |
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