{"id":33132,"date":"2025-11-07T21:43:13","date_gmt":"2025-11-08T05:43:13","guid":{"rendered":"https:\/\/essential.construction\/news\/fluor-posts-q3-loss-remains-bullish-on-power-projects\/"},"modified":"2025-11-07T21:43:13","modified_gmt":"2025-11-08T05:43:13","slug":"fluor-posts-q3-loss-remains-bullish-on-power-projects","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/fluor-posts-q3-loss-remains-bullish-on-power-projects\/","title":{"rendered":"Fluor posts Q3 loss, remains bullish on power projects"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><br \/>\n        <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.constructiondive.com\/static\/img\/play.svg?500116090725\" alt=\"-\"><br \/>\n        Listen to the article<br \/>\n        <span class=\"text-to-speech__button__audio-length\">4 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"https:\/\/text-to-speech.divecdn.com\/newspost\/805068\/2025-11-07_16.53.40\/fluor-q3-loss-bullish-power-construction.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have <a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/contact\/\" target=\"_blank\">feedback<\/a>.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<p><span><span><span><span><span><span>Fluor swung to lower revenue and a third-quarter loss after a court ruling in Australia forced a $653 million charge, but executives remained optimistic about its shift toward reimbursable megaprojects, according to remarks during the <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/newsroom.fluor.com\/news-releases\/news-details\/2025\/Fluor-Reports-Third-Quarter-2025-Results\/default.aspx\" target=\"_blank\"><span><span><span><span><span><span><span>company\u2019s third quarter earnings call<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cDespite continued short-term uncertainty in some markets, we are well positioned with unmatched global engineering and construction expertise, disciplined execution, a predominantly reimbursable portfolio and a clear capital allocation strategy,\u201d said Fluor CEO Jim Breuer in a news release. \u201cWe remain confident in our ability to deliver significant value over time.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Breuer said delays in client investment decisions, driven by <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/construction-tariff-hopes-doubts-second-half-2025\/759434\/\" target=\"_blank\"><span><span><span><span><span><span><span>trade policy uncertainty<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>, have impacted 2025 new awards. In addition, most new awards in 2026 will be weighted towards the second half of the year, he added.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"image-right inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"headshot of Jim Breuer\" data-imagemodel=\"164194\" src=\"https:\/\/imgproxy.divecdn.com\/a0FttgtrLbZWs14NPFCCLQNzBXztT9WxYh-1RbmrvlE\/g:nowe:32:0\/c:1440:1800\/rs:fit:0:860\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9KaW1fQnJldWVyLmpwZw==.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Jim Breuer<\/p>\n<p>Courtesy of Fluor<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>Nevertheless, the Irving, Texas-based firm still expects about $90 billion in new awards over its four-year planning cycle, most of which will land between 2026 and 2028, Breuer said. He added the <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/government-shutdown-federal-construction-projects\/761465\/\" target=\"_blank\"><span><span><span><span><span><span><span>ongoing government shutdown<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> could affect near-term federal contracting activity but that Fluor\u2019s growing exposure to power work should provide some insulation from <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/higher-costs-fewer-deals-construction\/802826\/\" target=\"_blank\"><span><span><span><span><span><span><span>wider economic swings<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cWe\u2019re accelerating our efforts in the power market, given the increased need for power generation,\u201d said Breuer during the call. \u201cWe\u2019re pursuing a number of opportunities in the U.S. and internationally, particularly where we have an operational footprint.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>Segment performance<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><span><span>The firm\u2019s Urban Solutions segment posted $61 million in profit on a ramp-up in life sciences and mining projects, plus incremental bookings on a copper project in Canada and a U.S. pharma facility, said Breuer.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>On legacy infrastructure, Breuer said four long-running, unprofitable projects are nearing completion. For example, he said the Gordie Howe bridge should open to traffic by the end of the year or early 2026, the LAX people mover by early 2026, the I-635 project by the second quarter of 2026 and the I-35E phase 2 job by late 2026.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cOn many of these projects, we continue to pursue cost recoveries and change orders from clients and subcontractors,\u201d said Breuer during the call. \u201cWhile we ultimately expect to be successful in these recoveries, in many cases, these efforts materialize on an extended timeline.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The Energy Solutions segment reported a $533 million loss, largely due to an Australian court ruling on a long-completed LNG project Fluor built for Santos, an Australian energy company. The ruling, which Fluor plans to appeal, resulted in a $653 million charge.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>On a positive note, the company completed Train 2 at its LNG Canada project and handed over all systems.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cThis project will be remembered as one of the largest and most complex projects in Fluor\u2019s history,\u201d said Breuer during the call. \u201cIts success is a testament to our global capabilities, even in remote or difficult locations.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Missions Solutions earned $34 million with $1.3 billion in new awards, such as a six-year Department of Energy contract to extend Fluor\u2019s presence at the Portsmouth project in Ohio. Other prospects include work on a strategic range services contract for the Air Force, additional work to support the intelligence community and work for the National Cancer Institute, according to Fluor.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>Q3 results<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><span><span>Fluor reported a loss of $697 million in the third quarter of 2025, compared with earnings of $54 million in the same period in 2024, according to the release. Its revenue reached $3.4 billion in the third quarter, about a 18% drop year over year.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Backlog fell 10% from $31.3 billion a year ago to about $28.2 billion, according to the report. New awards in the third quarter, on the other hand, totaled $3.3 billion, up 21% from a year ago.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cInvestors will be pleased but likely still want more,\u201d wrote Andrew Wittmann, senior research analyst at Baird, a Milwaukee-based financial services company, in a research note. \u201cResults, however, were tough with weak orders, charges and delays all peppering the report.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.constructiondive.com\/news\/fluor-q3-loss-bullish-power-construction\/805068\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Listen to the article 4 min This audio is auto-generated. Please let us know if you have feedback. Fluor &#8230; <a title=\"Fluor posts Q3 loss, remains bullish on power projects\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/fluor-posts-q3-loss-remains-bullish-on-power-projects\/\" aria-label=\"Read more about Fluor posts Q3 loss, remains bullish on power projects\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[457],"tags":[],"class_list":["post-33132","post","type-post","status-publish","format-standard","hentry","category-construction-dive","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/33132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=33132"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/33132\/revisions"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=33132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=33132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=33132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}