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Fluor Corp FLR

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Morningstar’s Analysis

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Fluor Raises Full-Year 2021 Outlook After Solid Second Quarter; Increasing FVE

Analyst Note

| Krzysztof Smalec, CFA |

Fluor posted a second-quarter GAAP net loss from continuing operations of $0.08 and adjusted EPS of $0.32 (excluding NuScale expenses, currency exchange losses, and SEC investigation-related costs). Fluor’s second-quarter sales of $3,236 million came in slightly above the FactSet consensus estimate of $3,203 million. We’ve bumped our fair value estimate for Fluor to $19.50 from $19, which reflects our revised near-term projections and time value of money, partially offset by the implementation of a probability-weighted change in the U.S. statutory tax rate in our model.

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Company Profile

Business Description

Fluor is one of the largest global providers of engineering, procurement, construction, fabrication, operations, and maintenance services. The firm serves a wide range of end markets including oil and gas, chemicals, mining, metals, and transportation. The company’s business is organized into three core segments: urban solutions, mission solutions, and energy solutions. Fluor employs over 40,000 workers in more than 60 countries. The company generated $15.7 billion in revenue in 2020.

Contact
6700 Las Colinas Boulevard
Irving, TX, 75039
T +1 469 398-7000
Sector Industrials
Industry Engineering & Construction
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Distressed
Employees 43,717

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