With the announcement of its third quarter results, Fluor said that it will establish its initial EPS guidance for 2017 at a range of $2.75 to $3.25 per diluted share.
The quarter’s new awards were $7bn, including $5.6bn in Energy, Chemicals & Mining and $955mn in Government. Consolidated ending backlog of $44.3bn compares to $41.7bn a year ago.
Earnings attributable to the company were $5mn, compared to $176mn a year ago.
Results include the quarter’s consolidated segment profit of $25mn, down from $240mn a year ago. Meanwhile, revenue was $4.8bn, up from $4.4bn in the prior year.
The quarter’s new awards were $7bn, including $5.6bn in Energy, Chemicals & Mining and $955mn in Government. Consolidated ending backlog of $44.3bn compares to $41.7bn a year ago.
Corporate G&A expense for the third quarter of 2016 was $27mn, compared to $35mn a year ago. Fluor’s cash and marketable securities balance at the end of the quarter was $2.1bn.
As a result of the charge in Energy, Chemicals & Mining, the Company is revising its 2016 guidance for EPS to a range of $2.20 to $2.40 per diluted share, from the previous range of $3.25 to $3.50 per diluted share.
