Overview

* Fluor Q2 revenue falls 6% y/y, missing analyst expectations, per LSEG data

* Adjusted EPS for Q2 declines 49% y/y, missing consensus, per LSEG data

* Co repurchased $153 mln in shares during Q2

* Adjusted 2025 guidance downward

Outlook

* Fluor revises 2025 adjusted EBITDA guidance to $475-$525 mln

* Company lowers 2025 adjusted EPS guidance to $1.95-$2.15 per share

* Fluor cites client hesitation and economic uncertainty impacting new awards

* Company assumes 2025 tax rate of 30% for guidance estimates

Result Drivers

* LNG CANADA - First shipment from LNG Canada project marked a key achievement

* INFRASTRUCTURE COSTS - $54 mln net impact from cost growth on three infrastructure projects due to subcontractor design errors

* CLIENT SPENDING SHIFT - Results impacted by temporary shift in expected capital spending from clients, seen as temporary by co

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $4 bln $4.55

Revenue bln (7

Analysts

)

Q2 Miss $0.43 $0.56 (8

Adjusted Analysts

EPS )

Q2 EPS $14.81

Q2 Net $2.50

Income bln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the construction & engineering peer group is "buy"

* Wall Street's median 12-month price target for Fluor Corp ( FLR ) is $55.00, about 3.2% below its July 31 closing price of $56.77

* The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)