Skip to content
Optionomics Free · No account needed

Earnings analysis · 10-Q

FLR earnings analysis

Filed May 7, 2026 · Our reading of the company's report

The latest report

Fluor Corporation reported a total revenue of $3.663 billion for the first quarter of 2026, representing a 7.99% decline compared to $3.982 billion in the same quarter of the prior year. The company experienced a net…

Read full summary

Fluor Corporation reported a total revenue of $3.663 billion for the first quarter of 2026, representing a 7.99% decline compared to $3.982 billion in the same quarter of the prior year. The company experienced a net earnings attributable to Fluor of $160 million, recovering from a net loss of $241 million in the previous year's quarter despite decreasing margins across segments, notably in Urban and Mission Solutions.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $100 Operating expenses $0 Left as operating profit $0

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$0.93
Segment
Urban Solutions
Segment
Energy Solutions
Segment
Mission Solutions

What stood out

  • Revenue Resilience in Urban Solutions

    Urban Solutions segment revenue rose to $2.437 billion, an increase from $2.157 billion in Q1 2025, reflecting a strong ramp-up on life sciences and mining projects.

  • Operating Cash Flow Improvement

    Operating cash flow improved to $110 million, recovering significantly from a negative $286 million in Q1 2025, attributed to reduced working capital.

  • Cash Position Strengthened

    Cash and cash equivalents increased to $3.187 billion from $2.433 billion year-over-year, bolstered by $2.43 billion in proceeds from NuScale shares sales.

  • Equity Method Earnings Recovery

    Equity method earnings turned positive to $51 million compared to a loss of $393 million in the prior year, driven by better performance from joint ventures.

  • Positive Segment Profit in Energy Solutions

    Energy Solutions segment profit increased to $74 million with a margin of 10.5%, up from $47 million and 3.9% in the same quarter last year.

  • Stable Backlog

    Total backlog increased slightly to $25.731 billion from $25.536 billion in December 2025, with a significant portion from Urban Solutions.

What to watch

  • Decline in Mission Solutions Revenue

    Mission Solutions segment revenue fell to $523 million, down from $597 million in Q1 2025, impacted by contract completions and lower emergency service volumes.

  • Increased General & Administrative Costs

    G&A expenses rose significantly to $61 million from $36 million in Q1 2025, driven primarily by higher stock-based compensation expenses.

  • Legal Cost Uncertainty

    Costs associated with a $96 million charge from a court ruling on a previous DOE project negatively impacted Mission Solutions profitability.

Management's outlook

Management acknowledged a strong pipeline of opportunities, particularly in energy and commodities, with a softer projection for Mission Solutions.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.