Fluor Q2 Earnings Beat, Backlog Hits $26.9B, but Guidance Narrowed on Mexico JV Exit
FLR sits 33% above its 52-week low of $39.33.
Summary
Fluor reported Q2 2026 earnings that beat expectations on revenue and EPS, with new awards of $6.1 billion and backlog of $26.9 billion. Full-year adjusted EBITDA guidance was narrowed to $500-$525 million, reflecting the Mexico JV divestiture.
Key Events · Earnings and Guidance · FLR
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Q2 Earnings Beat
Revenue of $4.3 billion beat consensus of $3.92 billion; adjusted EPS of $0.91 beat consensus.
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New Awards Surge
New awards of $6.1 billion, up from $1.8 billion in Q2 2025, driven by a fertilizer project, life sciences award, and Centrus nuclear fuel facility.
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Backlog Remains Strong
Ending backlog of $26.9 billion, 85% reimbursable, providing multi-year revenue visibility.
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Guidance Narrowed
Full-year 2026 adjusted EBITDA guidance narrowed to $500-$525 million from $525-$560 million, reflecting removal of Mexico JV contribution after its $175 million divestiture.
Analysis · FLR · Real Estate & Construction
A strong Q2 beat saw revenue reach $4.3 billion and adjusted EPS hit $0.91, both topping consensus. New awards surged to $6.1 billion, pushing backlog to $26.9 billion. Yet the full-year adjusted EBITDA outlook was narrowed to $500-$525 million, as the $175 million divestiture of the Mexico JV removed its contribution. While the beat and robust backlog point to healthy demand, the guidance cut tempers the outlook.
How filings like this one have moved
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At the time of this filing, FLR was trading at $52.24 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 8 out of 10.