Fluor Q2 2026: $0.81 EPS, NuScale Exit Complete, $816M in Buybacks, Backlog Hits $26.9B
FLR sits 29% above its 52-week low of $39.33.
Summary
Fluor reported Q2 2026 net earnings of $114 million ($0.81/share) on revenue of $4.3 billion, completed its NuScale exit, and returned $816 million to shareholders via buybacks. Backlog rose to $26.9 billion.
Key Events · Earnings and Guidance · FLR
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Q2 Earnings Beat
Net earnings of $114M ($0.81 diluted EPS) compare to $2,460M a year ago, a figure inflated by NuScale gains. Revenue rose 9% to $4.3B, with Energy Solutions margin surging to 12.4%.
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NuScale Divestiture Complete
The final 40M NuScale shares were sold in April for $473M, bringing total cash proceeds since September 2025 to $2.43B. No NuScale exposure remains.
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Aggressive Share Buybacks
During H1 2026, $816M of stock was repurchased (17M shares). The board expanded the authorization by 30M shares, with buybacks targeting ~$1.4B for the full year.
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Backlog Growth
Backlog increased to $26.9B from $25.5B at year-end, driven by new awards including LNG Canada Phase 2, a uranium enrichment facility, and a fertilizer project.
Analysis · FLR · Real Estate & Construction
A clean quarter delivered $114M in net earnings, fueled by a 9% revenue increase and margin expansion in Energy Solutions. With the NuScale overhang now gone—the final shares were sold in April, bringing total cash proceeds to $2.43 billion—management is returning that cash aggressively, repurchasing $816 million in stock during the first half and targeting $1.4 billion for the year. Backlog grew to $26.9 billion, supported by major wins like LNG Canada Phase 2 and a uranium enrichment facility. While legal risks remain, including a $15 million False Claims Act verdict and a new securities class action, the core business is strengthening.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.9% of the 1661 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, FLR was trading at $50.88 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $6.8B. The 52-week trading range was $39.33 to $54.79. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.