Fluor Reports Q2 Results

August 19, 2015

Fluor Corporation second quarter net earnings totaled $149 million, or $1.00 per diluted share, compared with $163 million, or $1.02 per diluted share a year ago. Consolidated segment profit for the quarter was $282 million, down from $313 million in the second quarter of 2014. Segment profit results reflect a 21 percent increase in Oil & Gas, which was offset by a decline in the Industrial & Infrastructure, Power and Global Services segments.

The Industrial & Infrastructure group reported segment profit of $58 million, compared with $96 million in the second quarter of 2014. Revenue for the quarter was $1.1 billion, down from $1.4 billion a year ago. Revenue and segment profit results reflect a continued decline in contributions from the mining and metals and infrastructure business lines.

"Although our backlog remains at a high level, the continued volatility of oil prices and mined commodities clearly has slowed the pace of new awards and tempered our expectations for the year,” said David Seaton, chairman and chief executive officer.