Fluor Q3 2025 Financial Results
- Q3 share repurchases totaled $70 million, with an additional $800 million targeted by February.
- New awards amounted to $3.3 billion, with 99% being reimbursable.
- Backlog reached $28.2 billion, with 82% reimbursable.
- NuScale investment to be converted to Class A shares, with full monetization expected by Q2 2026.
Financial Performance
Fluor reported Q3 2025 financial results with share repurchases of $70 million and plans for an additional $800 million by February. The company secured new awards worth $3.3 billion, with 99% being reimbursable, and a backlog of $28.2 billion, 82% of which is reimbursable. Operating cash flow was strong at $286 million.
Revenue and Earnings
Revenue for the quarter was $3.4 billion, reflecting an 18% year-over-year decline due to a $653 million reversal related to the Santos ruling. The GAAP net loss attributable to Fluor was $697 million, impacted by the Santos ruling and a $401 million reduction in NuScale’s share price. Adjusted EBITDA increased by 29% year-over-year to $161 million, while adjusted EPS rose by 33% to $0.68.
Guidance and Investments
The company raised its 2025 guidance for adjusted EPS, EBITDA, and operating cash flow. Fluor plans to convert its NuScale investment to Class A shares, with full monetization expected by the end of Q2 2026.
Additional Financial Details
Fluor's cash and marketable securities improved to $2.8 billion by the end of the quarter. General and administrative expenses increased by 16% year-over-year to $43 million, including $12 million in restructuring costs.
Source: Fluor