2024-04-11 07:33:20 ET
Summary
- Fluor Corporation's Q4 earnings beat was driven by an adjusted EPS of $0.68 per share, but GAAP earnings were negative at -$22 million.
- The company's reimbursable backlog has grown to an impressive overall 76%, providing a solid foundation for future financials.
- Fluor's bullish forward-looking fundamentals, including strong interest in various sectors and a robust prospect pipeline, suggest continued growth potential.
Intro
We wrote about Fluor Corporation ( FLR ) on three occasions in 2023 (April, July & September) when we rated the company a 'Buy' in all three commentaries. Encouraging trends in the Energy segment at the time and significant improvement in Fluor's backlog have led to a strong rally in the engineering & construction company, especially since the May lows of last year. Fluor was able to rattle off three consecutive earnings beats in Q2, Q3 & Q4 of fiscal 2023 where full-year guidance was increased on both the Q2 & Q3 earnings calls....
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For further details see:
Fluor: Reiterating 'Buy' Rating Due To Growing Reimbursable Backlog And Robust Pipeline