FLUOR CORPORATION Reports Earnings Results for Second Quarter of FY2023
August 9, 2023
🌥️Earnings Overview
FLUOR CORPORATION ($NYSE:FLR) reported its earnings results for the second quarter of FY2023, ending on June 30 2023. Total revenue amounted to USD 3939.0 million, a 19.4% increase compared to the same period in the previous year. Unfortunately, net income decreased by 7.6%, totalling USD 61.0 million.
Price History
Despite the effects of the pandemic, the company managed to post impressive results. The stock opened at $36.8 and closed at $35.9, representing a 15.6% increase from its prior closing price of 31.1. This surge can be attributed to the strong performance of the company’s various divisions in the second quarter of FY2023.
Additionally, FLUOR CORPORATION’s total order backlog also increased from the previous year, which paints an optimistic outlook for the company’s future performance. Cost-cutting initiatives also enabled the company to record higher margins in the quarter. FLUOR CORPORATION’s management is confident of its ability to capitalize on market opportunities and sustain its growth trajectory in the coming quarters. The company is well-positioned to benefit from the expected economic recovery and is committed to delivering above-average returns to its shareholders. The stock surge on Friday demonstrates investors’ optimism about the company’s future performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fluor Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 15.01k | -54 | 0.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fluor Corporation. More…
| Operations | Investing | Financing |
| 65 | -52 | 172 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fluor Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.76k | 4.79k | 12.53 |
Key Ratios Snapshot
Some of the financial key ratios for Fluor Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.7% | -28.0% | 1.0% |
| FCF Margin | ROE | ROA |
| -0.2% | 5.2% | 1.4% |
Analysis
GoodWhale conducted an in-depth analysis of FLUOR CORPORATION‘s fundamentals to assess its financial health. According to our Star Chart, FLUOR CORPORATION earned a 7/10 health score, indicating that it is capable of paying off debt and funding future operations. We concluded that FLUOR CORPORATION falls into the ‘Rhino’ category, which means that it has achieved moderate growth in revenue or earnings. Given its strong asset base, medium profitability and weak dividend and growth metrics, FLUOR CORPORATION may be attractive to a variety of investors. Investors looking for a stable income stream may find FLUOR CORPORATION’s asset base and moderate profitability appealing. On the other hand, investors seeking to invest for growth may be more interested in companies that have achieved higher levels of revenue or earnings growth. More…
Peers
It is one of the largest engineering and construction companies in the world and competes with other major companies such as KBR Inc, Resource Development Group Ltd, and Jacobs Solutions Inc. These companies all provide similar services to Fluor Corp and often compete for the same projects.
– KBR Inc ($NYSE:KBR)
KBR Inc is a publicly traded engineering, construction, and services company based in Houston, Texas. It has been expanding its global presence and providing innovative solutions to clients around the world since the early 1900s. As of 2022, KBR Inc has a market cap of 7.01B and a Return on Equity of 14.53%. The company’s market cap is indicative of its financial strength and ability to generate returns for its shareholders. Its Return on Equity is an indication of the company’s ability to generate profits for shareholders relative to the amount of money invested by them. KBR Inc has a long history of providing high quality services to its customers and creating value for its shareholders.
– Resource Development Group Ltd ($ASX:RDG)
Resource Development Group Ltd is a diversified resources company with interests in the exploration and development of minerals, oil and gas, and other natural resources. The company has a market capitalisation of 155.8M as of 2022, making it a mid-sized player in the resources sector. Resource Development Group Ltd also has an impressive Return on Equity (ROE) of 3.69%, which is higher than the industry average and indicative of the company’s strong financial performance over the past few years.
– Jacobs Solutions Inc ($NYSE:J)
Jacobs Solutions Inc is a leading global provider of technology, engineering, and management solutions. The company has a market cap of 15.01 billion as of 2022, which is an indicator of its strong financial standing in the industry. Jacobs Solutions Inc is also performing well financially, as demonstrated by its Return on Equity of 10.18%. This suggests that the company is achieving a good return on its investments and is able to generate positive returns for its shareholders. Jacobs Solutions Inc has established itself as a leader in the industry due to its commitment to providing customers with quality solutions and services.
Summary
Investors in Fluor Corporation can take comfort in the company’s strong second quarter results, with total revenue increasing by 19.4% compared to the previous year. Although net income decreased by 7.6%, the stock price still moved up on the day of the earnings announcement. This suggests that investors are optimistic about the company’s prospects going forward, as the increased revenue figures bode well for future performance.
Additionally, it’s clear that Fluor’s management team is well-equipped to make decisions that will generate positive returns for shareholders. Going forward, investors should continue to monitor Fluor’s earnings, balance sheet, and cash flows to ensure that the company is delivering on its promises.
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