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Fluor 4Q Net Up 31% As Revenue Rises

DOW JONES NEWSWIRES Fluor Corp.'s (FLR) fourth-quarter profit rose 31% as the engineering and construction company reported higher revenue, led by gains in its industrial and infrastructure segment. Fluor, the largest publicly traded engineering and construction company in the U.S., has posted improved bottom-line results over the past year amid higher sales and strength in its industrial-and-infrastructure unit. The company has also recorded record high new project awards and backlog in recent quarters. However, in the latest period, new awards fell 40% from the prior year and 37% from the third quarter. Backlog ended the quarter at $39.48 billion, from the prior quarter's record $41.83 billion. The company's industrial-and-infrastructure segment--lately Fluor's biggest by revenue--swung to a profit from a year-ago loss as its revenue increased 65%. The unit's revenue has been a pillar of support for Fluor in recent quarters, as the once-dominant oil-and-gas segment has dragged. Profit was down 9.3% in the oil-and-gas business in the latest quarter while the unit's revenue edged up 0.9%. Overall, Fluor posted a profit of $153.1 million, or 90 cents a share, up from $117.1 million, or 65 cents a share, a year ago. Revenue increased 19% to $6.25 billion. Analysts surveyed by Thomson Reuters expected earnings of 82 cents a share on revenue of $6.38 billion. In November, Fluor said it struck an agreement with nuclear alliance GE Hitachi Nuclear Energy to pursue a potential new nuclear power plant project in Finland. Shares of the company, which reaffirmed its full-year guidance, closed at $60.36 Wednesday and were unchanged after hours. Through the close, the stock is up 20% so far this year. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com

Stock News for Fluor (FLR)
DateTimeHeadline
11/30/201616:11:00Fluor Named to Forbes JUST 100 List
11/21/201616:12:00Fluor Signs Memorandum of Understanding with Clean Energy Future...
11/08/201616:23:00Brunswick County Power Station Recognized by ENR Mid-Atlantic...
11/08/201611:47:00The Construction Users Roundtable Recognizes Fluor for its Leadership...
11/08/201610:46:07Statement of Changes in Beneficial Ownership (4)
11/08/201610:44:37Statement of Changes in Beneficial Ownership (4)
11/08/201610:42:51Statement of Changes in Beneficial Ownership (4)
11/08/201610:40:10Statement of Changes in Beneficial Ownership (4)
11/03/201616:33:23Quarterly Report (10-q)
11/03/201616:22:16Current Report Filing (8-k)
11/03/201616:15:00Fluor Reports Third Quarter Results
11/02/201619:17:00Fluor Corporation Announces Quarterly Dividend
11/01/201616:19:00Fluor Announces Award of Sasol Oxygen Train Project in Secunda...
10/25/201609:00:00Fluor to Webcast Investor Day Presentation
10/19/201619:35:00ICA Flour se Adjudica un Proyecto de Oro y Plata en México
10/19/201617:51:07ICA Fluor Awarded Gold and Silver Mining Project
10/19/201617:02:00ICA Fluor Awarded Gold and Silver Project in Mexico
10/19/201610:11:00ABBとフルーアが世界の変電設備プロジェクトの実施に向けて提携
10/18/201616:17:00Fluor Completes Module Fabrication for Oil Sands Project
10/06/201608:00:00Fluor Corporation to Hold Third Quarter Earnings Conference Call

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