Fluor Corporation second-quarter 2026 results

Financial highlights

Revenue for Q2 2026 was $4.3 billion, up 9% year‑over‑year. GAAP net earnings attributable to Fluor were $114 million; adjusted EBITDA was $149 million. EPS was $0.81 and adjusted EPS $0.91. Consolidated segment profit totaled $170 million. Cash and marketable securities at quarter end were $3.0 billion, and G&A expenses were $41 million. The company completed NuScale monetization in April and completed a $175 million divestiture of its Mexico JV.

Cash flow and awards

Operating cash flow was negative $317 million, which includes a $357 million tax payment tied to the NuScale monetization. New awards in the quarter totaled $6.1 billion (89% reimbursable). Ending backlog was $26.9 billion, 85% reimbursable, with legacy project backlog reduced to $119 million. The company returned $300 million to shareholders through repurchases during the quarter and remains targeting $1.4 billion of repurchases for 2026.

Outlook

Fluor narrowed its 2026 adjusted EBITDA guidance from $525–$560 million to $500–$525 million, reflecting removal of the previously estimated second‑half contribution from the Mexico JV. The company did not provide U.S. GAAP net earnings or EPS forward guidance or reconciliations.

Segment performance and conference call

Urban Solutions posted segment profit of $38 million on $2.9 billion revenue and $3.2 billion of new awards. Energy Solutions reported $88 million segment profit on $709 million revenue and $704 million of new awards. Mission Solutions recorded $44 million segment profit on $716 million revenue and $2.2 billion of new awards. Fluor will host a conference call at 8:30 a.m. Eastern on Friday, August 7; a replay will be available for 30 days.